BinStarter

Extended Insurance Protocol (EIP) is a next-level specialized insurance protocol that constantly evaluates the performance of the project in the TGE and keeps evaluating the price of the token during the entire vesting schedule, and is activated when the price of the token remains below the IDO price 5 days in a row.The main purpose of this protocol is to create a highly-protected environment for both investors and project owners by adding new topics to our current insurance protocol.Let’s take a closer look!You can find the projects with Extended Insurance Protocol will have an EIP sticker beside their names on our announcements and our website. Also, their insurance content can be seen in our “IDO PROJECTS” tab.Example:<img src="https://academy-public.coinmarketcap.com/optimized-uploads/7a8ef9b0fd24455d9679ecc5a8e0b56b.png" />This recently-developed protocol will function with two different variables.Let&#39;s take a project IDO and listing that has 25% at the TGE, 25% monthly vesting over 3 months, and 1 USD public sale price as an indication:<img src="https://academy-public.coinmarketcap.com/optimized-uploads/530a028b8c004251bc6cc11b90e090ff.jpeg" />In the first scenario, if the token price can hold the minimum value of 4X, the Extended Insurance Protocol ends 24 hours after Listing.Let’s take the same example and apply it for the second scenario.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/0158c85d789d42a987587cef414ec9fb.jpeg" />If the project cannot meet the demanded X4 for 24 hours after TGE, the EIP protocol starts functioning and evaluating. If the token price stays lower than the IDO price for 5 consecutive days during the vesting period, BinStarter will return the remaining vested portion.The Protocol works as below.25% - TGE - August 7th, 2022If the token price remains below the IDO price for 5 consecutive days between August 7th and September 6th, 2022, BinStarter will return %75 of the investment  to investors.25% - First Vesting - September 7th, 2022If the token price remains below the IDO price for 5 consecutive days between September 7th and October 6th, 2022, BinStarter will return %50 of the investment to investors.25% - Second Vesting - October 7th, 2022If the token price remains below the IDO price for 5 consecutive days between  October 7th and November 6th, 2022, BinStarter will return %25 of the investment to investors.25% - Third Vesting - November 7th, 2022When the last vesting distribution is completed, the EIP ends.Frequently Asked Questions1. What will happen if the token price remains below the IDO price for 4 consecutive days then moves upper than the IDO price for the last day and again goes below on the following day?If the price remains higher than the IDO price for 24 Hours, the EIP will not be activated and the countdown will restart.2. Let’s say I’m going to be collecting 100 tokens according to this example. I took 25 tokens in TGE and 25 tokens in the first vesting but I did not claim it, and in the next vesting period the EIP is activated, is it possible to get all my funds refunded?In this scenario, we will get %50 since holding or selling the tokens was the investor’s choice.3. Is this Protocol applicable to all the projects?Previously signed agreement projects are not involved with this protocol. You can see the projects that are involved with the EIP sticker in the “IDO PROJECTS” section.4. Who can Benefit from the EIP?All $BSR holders have the right to attend the IDOs with an EIP sticker

What is the Extended Insurance Protocol and How Does it Work?

BinStarter

Other articles published on Aug 19, 2022

Cryptocurrency price update: SHIBA INU PRICE ANALYSIS : Bears have gained control of the bulls, a...

The Terms of CoinMarketCap Community Giveaway

Decentralized Onboarding of the Smart Hub

Top cryptocurrency news: Ripple Partners with Travelex to Launch Enterprise Crypto Payment Servic...

Bobcoin (ERC20) now added to the TrustWallet system

Cryptocurrency price update: SOLANA PRICE ANALYSIS : Solana slides 11 percent: a challenge of the...

Join our free newsletter for daily crypto updates!