iTrust.finance project overview
Ahead of iTrust.finance’s IDO on SushiSwap’s MISO Launchpad on 23rd June, and the opening of our Mooncaster pre-IDO allocation event soon, we wanted to provide an overview of the project to fully convey to our Totem Warriors the scale of innovation behind their project, and how significant the launch of their $ITG token is!
What is iTrust.finance?
To put it plainly, iTrust.finance gives users easy access to DeFi insurance staking pools, with a long-term aim of providing staking solutions across the entire DeFi landscape. Their first strategic partner protocol is Nexus Mutual, and once the iTrust.finance platform launches users will be able to deposit into the iTrust staking vaults, and through those will be able to access the Nexus Mutual liquidity pools.
Why use iTrust.finance?
The question which now needs to be asked is why use iTurst.finance, as opposed to going directly to the insurance protocols and staking through their own platforms? The answer is simplicity; it can often be a complicated process, with a lot of information to work through and a lot of options available, to directly access DeFi insurance staking pools. iTrust.finance will manage the end-to-end staking process by providing an easy-to-use reward accrual platform.
Widening the addressable market beyond that currently accessed by DeFi Insurance protocols, iTrust.finance users will soon have the option to stake ETH, BTC, and a swathe of other DeFi Insurance tokens directly, across a number of different risk-assessed Vaults. Essentially, the iTrust.finance platform will be a single point of access to a wide range of insurance protocols, with very low barriers to entry and a very easy-to-use interface.
What other solutions does iTrust.finance provide?
Beyond providing simplicity and ease of access to DeFi insurance for users, iTrust.finance has two other core principles which underpin its operations; efficiency, and increased returns.
I. Efficiency: iTrust.finance’s risk-managed staking vaults will build cover capacity for insurance protocols, enabling lower premiums and increased adoption.
II. Increased Returns: iTrust.finance will maximise user staking rewards by solving the risk and usability flaws inherent to existing insurance protocols; and in the future by expanding to simple cross-insurer exposure. On launch, iTrust finance’s managed staking vaults will provide a brand new onboarding ramp for $wNXM holders, finally allowing them to receive staking rewards alongside $NXM holders.
$iTG Token Use Cases
The iTrust Governance Token ($iTG) is given as an incentive for stakers in the vaults, rewards for LPs who provide liquidity for the network, and to foster a strong active community.
The iTrust tokens have many uses within the iTrust ecosystem;
To participate in community discourse (e.g. Telegram/Discord) users must hold iTrust tokens, allowing access to closed groups.
Application and Aquisition of Voting IDs
To participate in community and governance votes, users needs to purchase a voting ID. Having iTrust tokens gives the user the right to access the application process where the user can then purchase a voting ID with the iTrust token.
The user needs to hold iTrust tokens for their voting ID to be valid. Once the user has a valid voting ID many areas of the DAO are open for participation.
Using the voting ID (purchased with $iTG tokens) the user can participate in the prediction markets, utilising $iTG token to stake on contract(s) they believe to be compromised.
Making correct prediction earns the user reputation, attributed to their ID. Utility of the reputational score will develop as the ecosystem expands.
User Defined Vaults
To launch a vault the user needs to pay an application fee in $iTG tokens.
Once the application is approved, the user(s) running the vault will be required to stake $iTG tokens for the period the vault is in operation.
The meritocratic reputation attributed to the users ID will affect the vault creation fees and charges, i.e. a better rating allows a lower fee to be paid.
Max Supply: 100,000,000
Initial Circulating Supply: 9,900,000
Total Raise (All Rounds): $2,550,000
Platform Raise: $150,000
- Raised: $400,000
- Price: $0.10
- Lock-up: 20% at TGE, the remaining distributed equally bi-monthly over 12 months
- Raised: $2,000,000
- Price: $0.25
- Lock-up: 10% at TGE, the remaining distributed equally bi-monthly over 12 months
- SushiSwap MISO: $150,000
- Price: $0.75
- Personal Allocation: $300 (or 400 tokens)
- No lock-up
Date: June 23, 2021
Time: 2PM UTC
Price per token: $0.75
Total number of tokens to be sold: 200,000
Maximum per person: $300 (400 tokens)
Whitelist Approval: 600 applicants will be approved for a whitelist place(500 actual allocations available at IDO).
How to participate:
In order to be eligible for whitelist selection, you must do all of the following:
- Follow @itrustfinance on Twitter
- Join our Telegram Community Chat Group
- Join our Telegram Announcement Channel
- Quote Retweet our IDO Announcement Tweet: https://twitter.com/iTrustFinance/status/1401969523335614467?s=20
- Fill out this form to apply for the whitelist
Telegram Announcements: https://t.me/iTrustOfficialAnnouncements
We’d like to thank our friends at iTrust.finance for partnering with us and giving the TotemFi community access to their $iTG token presale!
Following the IDO on SushiSwap’s Miso launchpad, $iTG will be listing Uniswap. The Totem Oracles who come closest to predicting what price $iTG will close at 24 hours after it lists will receive an allocation at one of the project’s presale prices!
We’ll be releasing further info around allocation pool sizes and how to enter our Mooncaster event over the coming days — stay tuned!
Thanks for reading,