InsurAce Notification Bot

Published on: 27.04.2023
InsurAce Notification Bot

InsurAce Notification Bot has been introduced. This innovative system allows users to subscribe to specific on-chain notifications through Telegram, keeping you informed about their insurance covers and product capacities.

Stay up to date with your insurance covers and monitor product capacities with ease. The InsurAce Notification Bot offers two simple commands to subscribe to the notifications you want.

/subscribe wallet {wallet address}

Example: /subscribe wallet 0x544c42fBB96B39B21DF61cf322b5EDC285EE7123

/subscribe capacity (product id) (capacity in USD)

Example: /subscribe capacity 188 10000 to get notified when Compound V3 (ID 188) has a $10,000 capacity.

How to Subscribe

  • For Telegram, users can visit: InsurAce Bot
  • Simply run /start
  • Receive hints for the subscribe commands
  • To unsubscribe, run /start and follow the menu

Use Cases

By subscribing to the InsurAce Notification Bot, you can receive essential notifications for the following events:

  • Cover purchased.
  • Cover canceled.
  • Policy expiring
  • Coverage expired.
  • Subscribe to capacity notifications with specific product IDs and capacities in USD.

Background and Subscription Flow

The Web3 environment shares similarities with Twitter in terms of public information availability. Users can subscribe to content that interests them.

Once subscribed, users will receive messages in their respective channels when events are triggered. Information sources are abstracted via adapters and are configurable, allowing for easy expansion of the system to include more information sources without code changes.

Highlights & Discussion

With Web3’s focus on wallet addresses rather than identity, user experience is simplified. However, this can also lead to potential abuse or spam subscriptions. To mitigate this, we may implement additional measures, such as periodic email liveness confirmation with CAPTCHA verification.

Telegram & Discord have rate limits for their bot APIs, limiting our ability to support a large number of users. Email/SMS does not have this limitation. Our first version supports Telegram, with additional channels to be added later based on demand.

ABOUT InsurAce

InsurAce, a decentralized global risk cover protocol, offers mutual protection for digital assets against risks such as hacking, smart contract bugs, and stablecoin de-pegging. The platform features two membership-governed mutual pools and uses the $INSUR token for membership rights. With smart contracts issuing covers and a seamless user experience, the need for intermediaries eliminates. The platform’s unique selling points include Low Fee Portfolio Cover, a Wide Product Range, SCR Mining, and Reliable Transparent Payouts.

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RESOURCES

InsurAce Protocol

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