Please describe exactly what you are planning to build. Make sure to include the following:
- Start with the need or problem you are trying to solve with this project.
- Describe why your solution is going to adequately solve this problem.
- 
We addressed the incentive approach for RISK LITERACY of teenager simply by empowering teenagers to drive prevention behavior, that decrease risk and perils. Parents engage through the design and set up the desired pattern for prevention – nudge their kids to behavior that result in less damage or injure. 

Our intention is also to validate the concept of "social token" and leverage blockchain capabilities for "Loyalty & Reward". We would love to test and validate a prototype to empower teens with DeFi solutions for embedded / open finance PoC-pilot
We educate teenagers about RISK LITERACY through prevention

For each type of RISK, teenagers get enrolment and assignments for prevention behaviour that decrease risk (perils).

Achieved prevention will define a scoring - track of teenager path to decrease risk (perils).

We envision that this behaviour & achieved prevention might be used as a “social token” like a proof of risk decrease. This means that teenagers could be rewarded or earn NFTs as loyalty for achieving RISK LITERACY – during the path of education & achievement certain prevention habits.

This section should be 2-3 paragraphs long.

Please describe in more detail why this proposal is valuable for the Chainlink and Etherisc ecosystem. 
Answer the following questions:
- What are the benefits to getting this right?
- What are the risks if you don't get it right?
- What are the risks that will make executing on this project difficult?

Because prevention driven behavior might decrease risk & perils. Intrepid-stars do this in an engagement & gamification way where teenagers received an incentive for performed prevention & RISK LITERACY achievement. Our social token approach that leverage DeFi and blockchain capabilities of NFTs also deliver good example of a learning path for teens. 
Our intention is also to validate the concept of "social token" and leverage blockchain capabilities for "Loyalty & Reward". We would love to test and validate a prototype to empower teens with DeFi solutions for embedded / open finance PoC-pilot. 
This section should be 1-3 paragraphs long.

Please describe in details what your final deliverable for this project will be. 
Include a specification of the project and what functionality the software will 
deliver when it is finished.

Please break up your development work into a clear set of milestones. 
This section needs to be very detailed (will vary on the project, 
but aim for around 2 pages for this section).

For each milestone, please describe:
- The software functionality that we can expect after the completion of each milestone. 
  This should be detailed enough that it can be used to ensure that the software meets 
  the specification you outlined in the Deliverables.
- How many people will be working on each milestone and their roles
- The amount of funding required for each milestone
- How much time this milestone will take to achieve (using real dates)

Sum up the total requested budget across all milestones, and include that figure here. 
Also, please include a budget breakdown to specify how you are planning to spend these funds.

Specify your team's long-term plans to maintain this software and upgrade it over time.`

- Team Member 1
https://www.linkedin.com/in/ale%C5%A1-furlani%C4%8D-00a30185/

- Team Member 2
https://www.linkedin.com/in/mojca-simonovi%C4%8D-4a3b38166/ 

- Team Member
- ...

 
https://www.linkedin.com/in/ale%C5%A1-furlani%C4%8D-00a30185/


https://www.linkedin.com/in/mojca-simonovi%C4%8D-4a3b38166/ )

- ...

Please describe (in words) your team's relevant experience, and why you think 
you are the right team to build this project. You can cite your team's prior 
experience in similar domains, doing similar dev work, individual team members' backgrounds, etc.

Please provide links to your team's prior code repos for similar or related projects.`

Please include any additional information that you think would be useful in helping us
to evaluate your proposal.

Please describe exactly what you are planning to build. Make sure to include the following:
- Start with the need or problem you are trying to solve with this project.
- Describe why your solution is going to adequately solve this problem.

This section should be 2-3 paragraphs long.

Please describe in more detail why this proposal is valuable for the Chainlink and Etherisc ecosystem. 
Answer the following questions:
- What are the benefits to getting this right?
- What are the risks if you don't get it right?
- What are the risks that will make executing on this project difficult?

This section should be 1-3 paragraphs long.

Please describe in details what your final deliverable for this project will be. 
Include a specification of the project and what functionality the software will 
deliver when it is finished.

Please break up your development work into a clear set of milestones. 
This section needs to be very detailed (will vary on the project, 
but aim for around 2 pages for this section).

For each milestone, please describe:
- The software functionality that we can expect after the completion of each milestone. 
  This should be detailed enough that it can be used to ensure that the software meets 
  the specification you outlined in the Deliverables.
- How many people will be working on each milestone and their roles
- The amount of funding required for each milestone
- How much time this milestone will take to achieve (using real dates)

Sum up the total requested budget across all milestones, and include that figure here. 
Also, please include a budget breakdown to specify how you are planning to spend these funds.

Specify your team's long-term plans to maintain this software and upgrade it over time.`

- Team Member 1
- Team Member 2
- Team Member
- ...

- Team Member 1 LinkedIn profile
- Team Member 2 LinkedIn profile
- Team Member 3 LinkedIn profile
- ...

Please describe (in words) your team's relevant experience, and why you think 
you are the right team to build this project. You can cite your team's prior 
experience in similar domains, doing similar dev work, individual team members' backgrounds, etc.

Please provide links to your team's prior code repos for similar or related projects.`

Please include any additional information that you think would be useful in helping us
to evaluate your proposal.

The problem that Nomis is going to solve is the over-collateralization in DeFi borrowing which is an entry- and adoption barrier for mainstream borrowers.

Nomis is a crypto protocol based on a mathematical prediction and AI model enabling protocol users with a favorable on-chain credit score to borrow crypto with a fair collateral and APR on a case-by-case basis. On the other hand, Nomis is an open-source protocol that helps web3 developers both building new on-chain solutions and use cases, and balancing already existing high-TVL protocols.

Nomis brings two crucial competitive advantages to the table:
1) Nomis is an open-source solution that helps web3 developers leverage credit scores building better on-chain products and communities.
2) Nomis offers the most robust financial snapshot of a potential borrower hiring hierarchy analysis as a scoring method.

Nomis will help Chainlink to grow its TVL, # of active users (as a result of acquisition of mainstream borrowers), as well as # of active on-chain developers, and # of on-chain use cases (as a result of opportunity provided to develop new DeFi solutions on-top of the Nomis open-source protocol).

The final deliverable for Nomis: Nomis credit score accuracy ≧ the top3 credit bureaus' score accuracy.
We aspire to achieve this deliverable as it will crush the entry- and adoption- barriers to crypto loans for mainstream borrowers and people that have no access to credit today. Nomis will deliver its value through DeFi dApps (via API) built on-top of it.

Milestone 1: Data extraction from NEAR Protocol; Basic attribute calculation (on-chain data and transaction history) (09/01/2022)
- Code for attribute extraction.
- Landing with calculated attributes.
Cost: $15,000

Milestone 2: Credit score calculation via Nomis' AI-algorithm; Web3 login connection to boost UX (10/01/2022)
- Code for credit score calculation.
- Web-wallet integration.
Cost: $15,000

Milestone 3: API & documentation development (11/01/2022)
- API for credit score calculation.
- Documentation for using API.
- Personal area to API stats.
Cost: $20,000

Milestone 4: DST (Decentralized Score Token, non-transferable dynamic NFT which contains wallet’s current credit score) implementation (12/01/2022)
- Contracts for tokens.
- Web-page for token exploration.
Cost: $15,000

Milestone 5: Community building (Twitter, Discord, Telegram) — 20K total followers as a milestone for 3 months (01/01/2023)
- Twitter Account with ≥ 5,000 followers.
- Discord Account with ≥ 5,000 followers.
- Telegram Account with ≥ 10,000 followers.
Cost: $15,000

$75,000 in total. 
Cost breakdown: 70% —product development (mathematicians, developers), 30% —marketing.

Although, the long-term vision for Nomis goes far beyond credit scoring for DeFi.
In the future, other Chainlink dApps will use the Nomis score as a wallet qualifier for making job offers, for adding in whitelists, for offering special marketing terms, or just for inviting to a private party, etc.

- Alex Barabash, CEO
- Arty Shatilov, CPO
- Fedor Cherepanov, CTO
- +7 ready-to-go-full-time mathematicians and developers

## Team Member LinkedIn Profiles

## Team Website

- [Whitepaper](https://artemshtlv.notion.site/Nomis-Protocol-e859b9e3bae6412fb99d6119a8d2e5a4)
- [MVP](https://nomis.cc)

## Relevant Experience

## Team code repositories

# Additional Information

We aim to become Germany's first sustainable property insurance company. We want to do things differently: cooperatively, in the public interest, transparently, socially, and sustainably. Our first product, ver.de BIKE, is already on the market and, in response to demand from our potential customers, we intend to expand the ver.de BIKE product to include group contracts. The long-term goal is to offer our most popular products, household, and liability insurance, with BaFin approval.
So far, ver.de uses an open-source standard software environment for this purpose, which has been adapted to ver.de's needs: Our hardware runs mostly on Linux (mint), and for the website interface we use Wordpress as well as a store solution from Wordpress.
Our goal is to use open source blockchain technology for transparent inventory management in the long run: Customers* can see the status of their contract in it and make legitimate changes to their data themselves (such as address changes, adding new bikes, etc…).

- What are the benefits to getting this right?
  We intend to use the Blockchain Technology as a secure, easily scalable, and freely available technology, which should subsequently 
  also save It costs and clerical and administrative costs. And to be adapted and further developed for later products. BaFin requires a 
  good IT solution and solid calculations for the IT costs for the approval. Here, we see great potential in blockchain technology.

- What are the risks if you don't get it right?
  Have a traditional untransparent IT infrastructure which is not able to handle crypto currencies. When the government introduces 
  crypto currencies, those IT systems would be outdated. 

- What are the risks that will make executing on this project difficult?
  Customer familiarity with blockchain.
  Mapping/reflecting insurance laws on blockchain infrastructure.
  Auditing and reporting.
  Communication between traditional and blockchain systems.

A green insurance that is based on blockchain infrastructure.  The blockchain should keep the customer data safely and compliant with GDPR and should be modifiable to allow the customers to make changes within the contract (adding/removing bikes, address change, upgrade/downgrade). A system that is allowing auditability and ready for communication with broker systems. A system providing legitimation and authorization.

Chainlink acts as an oracle provider for claims processing on the blockchain:
This process can be extended and generalized to general claims processing with the following general components: A trigger function (e.g. upload report), a review function by an expert, determination of cause and amount of damage, approval or rejection, fraud, recovery.

The processing of bicycle theft claims is a good example of this. General steps of claims processing such as checking whether there is a contract, whether the premium has been paid, whether multiple claims have been reported by the same customer earlier, etc. are performed independently by the blockchain of etherisc.

In this case, the claims process with chainlink oracles begins with an interface through which customers upload the theft report received from the police. Once the report is submitted, a review process begins where an insurance adjuster reviews the report. For example, in the case of a theft report, a claims adjuster verifies that the report is genuine, as well as the date, object, etc. If the report is approved, chainlink proceeds with processing the claim. The next step is to determine the amount of the claim. In case of rejection, a fallback function would be implemented (e.g., contacting the customer again). The claim is also marked as suspected fraud if there is a suspicion of fraud, or marked as a potential case for recovery if there is evidence of this.

In this use case, the police theft reports are uploaded and connected to etherisc's smart contract blockchain. The release of the claim by the expert is transmitted to the smart contract blockchain with all related documents and information via the chainlink oracle and this triggers the payment of the claim. In case of a rejection, the documents from the chainlink including the justifications by the claims handling expert are also transmitted to the blockchain and archived there.

At a later stage of the project, other claims can also be processed with the help of the chainlink oracle, uploaded to the smart contract blockchain and triggering the payout: for example, also fire and burglary claims, as data from fire department reports or police reports and notifications can be uploaded here as well and processed manually or automated later. Also tap water damage, electronic damage or liability damage can be processed in perspective with Chainlink as oracle, the documents and results can be transferred to the blockchain for archiving and the oracle can trigger corresponding payouts of the smart contract blockchain

![Development_Roadmap](https://user-images.githubusercontent.com/103127713/162396406-1f1dbf47-f3fa-43ee-8f0d-161c9dd757c7.png)

Total Budget: 80.000 EUR for:
- Internal/External development staff
- Technical infrastructure (e.g. additional servers)
- External Consultancy 

Develop and prepare the blockchain for more products. Extend the interfaces with more actions/functionalities. 

- ver.de AG
- Techgenossen eG

- https://www.linkedin.com/company/verde-ag/
- https://www.linkedin.com/company/techgenossen/

https://www.ver.de
https://techgenossen.de/

**ver.de**: Offers protection solutions for the safety of their customers for bikes and other items against theft, vandalism and crash. The team has developped all the processes and is at market since 2020.

**techgenossen.de**: Conceive, design, and develop future-oriented digital products. Bad web applications harm the environment, the democracy, the economy. And annoy. With Techgenosssen, digital is better: holistic, resource-saving, public good-oriented.

We use open-source software. 
We have been elected as social business (see https://euclidnetwork.eu/2022/03/top-100-women-in-social-enterprise-2022/)
We generate positive impact with our assets in a transparent way, (see https://www.ver.de/kapitalanlage) 

“Why blockchain?” – This is a question that blockchain enthusiasts hear frequently when they present their projects. And indeed, many projects – also in the insurance industry – are not (yet) a perfect fit for the technology, e.g. because the implementation is not really decentralized or advantages of the solution are more than offset by increased IT complexity. 
We all have to be aware that we are still the in early days of blockchain adoption. The technology will advance, as will regulation. 
We from InsureBlox team strongly believe in the potential of blockchain for the insurance sector, especially as it is a perfect solution for some of the major problems that today’s customers have with insurance: lack of transparency, high complexity and, last not least, unreliability, when it matters most: frequently, insurers refuse to pay out for various reasons, and customers are let alone. One example for this is the recent flooding event in the Ahr valley in Germany, where insurance customers face substantial problems to get the compensation they had hoped for.
We at InsureBlox are on a mission to change this: We provide parametric and embedded insurance coverages that are easy to understand and simple to deal with. And they pay out automatically. We explore use cases in different industries, like property, travel, logistics and energy, and we have already developed two prototypes to try out the technology, including also Chainlink oracle services. Going forward, we will also make use of new business models and technologies, including IoT sensor data and pay-per-use models.
Currently, we face a few regulatory limitations which are different by jurisdiction: In Germany, we cannot sell our coverages as “insurance” products as long as they are not backed by a licensed insurance carrier. Therefore, regarding the first products that we will launch, we will stick to low sums insured and offer “protection” products based on a trustworthy software solution (following the regulatory model agreed between Etherisc and BaFin, the German supervisor).
The first coverages that we want to develop (maximum sum insured of 5,000 EUR) are:
•	Holiday weather protection (e.g. in case of sustained bad weather/rainfall during a summer holiday) and comparable coverages for the hospitality industry
•	Basic flooding coverage (to compensate homeowners regarding costs from a minor/ seasonal flooding event) 
•	Hailstorm coverage (e.g. for photovoltaic power plants on rooftops)
The first product we will develop and launch with the help of the Chainlink/Etherisc grant is a holiday weather coverage. This coverage partly compensates holidaymakers if there is bad weather during their holiday, e.g. holidaymakers get 25% of the value of the travel package back, if they face four days of sustained rainfall during a one-week holiday in the Mediterranean. 
We decided for this coverage after intensive research and based on the following reasons:
•	We have carried out substantial market research including comprehensive interviews with 20 potential customers. Bad weather (notably too much rain and lack of sun) is a major issue for the majority of the holidaymakers. There is a clear market potential for this product.
•	The product idea is not new. However, it has not yet accomplished main market adoption. It is still a rather untouched market niche (Sensible Weather from the US is a new start-up active in this segment).
•	The product is easy to understand for customers and promises to have an attractive user experience (also some betting aspects).
•	Apart from holidaymakers as a potential customer group, the coverage can also be included in packages sold to the hospitality industry (hotels, resorts etc.).
•	The workflow and IT implementation is comparatively simple. 

Etherisc’s GIF enables the use of parametric insurance in a fully automated way, which is exactly what InsureBlox is all about. The DIP platform incentivizes insurance product developers to launch products and oracle operators to provide data services, they are compensated with DIP tokens. With our product and also by setting up the oracle (and its aggregation), we will be part of this ecosystem. We will test the functionalities of the GIF, including also the new risk pool / staking mechanism, and maybe spot some bugs or otherwise lead to improvements. Hereby, we support the growth of the ecosystem and the value of the DIP token. 
Our product aims to have a significant impact, reimbursing holidaymakers who have a bad holiday experience due to bad weather. Chainlink is essential in our project, because it generates transparency and trust in the oracle data that we use for claims assessment. The insurance industry seems to be a major target market for Chainlink, this means bringing our product live and selling a substantial number of policies would probably be a good showcase. This would contribute to generating (even) more attraction for Chainlink, the LINK token and increase the overall TVL of Chainlink. 
The main risk lies in the proper implementation of the intelligent contract, which might lead, amongst others, to fraudulent policy applications and therefore the wrongful reimbursement of certain insureds. Our smart contract will depend on Etherisc's risk pool functionalities, so the possibilities of siphoning the smart contract should be limited. Fingers crossed 😉
In addition, we have to make sure that our risk model is solid, i.e. based on a state-of-the-art actuarial model and appropriate data. Probably, we will start with some travel destinations where the weather conditions are generally more stable (e.g. Baltic Sea).
Another major risk is basis risk, which might lead to unsatisfied customers and bad reputation. Basis risk in our case is the risk that the weather conditions which the holidaymaker experiences during his trip are different from the weather conditions measured at the pre-defined weather stations. Therefore, it is important to be transparent about the data used and also to monitor the accuracy of data shown in weather apps.
Regarding the successful execution of the project, the main challenge is that we are a small team at the moment. We plan to integrate new team members through the Chainlink/Etherisc grant in order to have all the necessary skills to develop our solution. Developing and deploying smart contracts has many risks. That's why our team must have a broad set of competencies. We seek at least part-time support from some senior web3 developers and from one more frontend resource.

The objective of the project is to develop and launch all necessary frontend and backend components for the holiday weather coverage based on the Etherisc GIF and an oracle network based on Chainlink. This includes several components: frontend, the smart contract, pricing module, integration with the GIF smart contract modules, and the integration with Chainlink services.
Please have a look at our first high-level draft of the workflow below (subject to changes based on discussions with both Etherisc and Chainlink).

Chart 1: High-level draft of workflow for the proposed parametric insurance coverage (holiday weather protection), without any cash flow processes 

We will develop this using the GIF sandbox, and then test and launch it on one of the EVM-compatible blockchains that GIF and Chainlink currently operate on.

Please see the table below. It shows the different software components/tasks, technologies used, budget requested and expected delivery dates. 
The dates are based on the assumption that the grant is approved quickly, i.e. early July, otherwise target dates have to be adapted. Please also bear in mind that the risk pool component of the GIF is not yet published and it might require some more time until a solid code base is available. We will keep Chainlink and Etherisc up to date about our progress.
 
Chart 2: Development roadmap and budget request

Architecture and workflow/processes:
We have already developed a first version of the workflow including the frontend, our smart contract, the GIF modules, Chainlink modules and our pricing backend, see above.
We will discuss our approach with you, ask for advice about the optimal architecture and workflows based on the peculiarities of the GIF framework and the experience with the products that Etherisc has already launched. 
Our results will be published in form of workflow and architecture charts.
IT infrastructure
Based on the business architecture, we will also develop the IT infrastructure. We will discuss our approach with Etherisc and seek external sparring/advice from partners, e.g. Andrei Martchouk and Tobias Latzke from Project Q. 
Our results will be published in form of architecture charts.
Smart contracts
We will build the smart contract based on our knowledge from similar projects in the past, notably from our prototype “Ocean Storm” that we developed during the last Chainlink fall hackathon. 
The smart contract will have standard functionalities required for a parametric insurance product, please have a look at our draft workflow to get an impression about the main elements and how they interact. We have already experience with developing all the necessary functions including the Chainlink technology stack. What is new for us, is the integration into the GIF framework. We have studied it already, and with the help of Etherisc, we will manage to get an integrated smart contract.
For assessing potential payouts, we will retrieve the necessary data via the Chainlink oracle services (Node, Keepers, Adapter, Bridge). We will investigate how we can combine different data sources using the Chainlink data aggregation mechanism. 
 Pricing
Our pricing function will be based on an actuarial model and historical data. Regarding the actuarial model, we are advised by independent pricing experts. The historical weather data will be retrieved from weather APIs. The result of the pricing will be brought on-chain via Chainlink. 
Risk-pool integration 
We plan to use the newly developed risk-pool function of the GIF framework. This part of GIF is still in development / testing stage, so we do not yet know in detail how the integration works. We will discuss this asap with the Etherisc team.  
Front-end
Please see the draft workflow for the major functionalities of the front-end. Core modules are policy application, request of the status of the policy, and notifications regarding the payout. 

Please see the table in the previous section regarding the budget requested.

Our coverage will mainly focus on European destinations at start, we will improve the pricing model to fit more destinations step by step. Due to the regulatory limitations, we will start to sell to customers in Germany. We are eager to explore if and how we can sell to customers in other countries, notably France, in the second step. 
Our first version will receive payments in crypto only. In order to be attractive to a wider audience, and to sell via travel agencies and travel platforms, we will extend the payment options to also accept fiat/credit cards. 
The smart contract must also be able to evolve, thanks to the EIP-1882 (Universal Upgradeable Proxy Standard), we will be able to improve the smart contract to integrate the evolutions of the risk model and to ensure the resilience and gas efficiency.

https://insureblox.gitbook.io/hackathon/ocean-storm/demo-video
This is the Gitbook site of our recent Chainlink hackathon project “Ocean Storm”, a parametric insurance coverage for vessels and their freight against heavy storms on high seas.
The InsureBlox website is currently under development, the first release will be launched in September.

We are a versatile and ambitious team that strives to make an impact for insurance customers, with easy, transparent coverages that pay out in seconds rather than months. Three of us have a background in insurance. Martin has a business background and almost 20 years of experience in insurance (business development, project management including IT transformation and test management). He has been active the blockchain ecosystem since 2017. Kevin is an actuary with 7 years experience (life & non-life reserving, project management for business transformation and automation). In early 2021, he committed himself to becoming a web3 developer and pursues this goal full-time. Malte is an IT developer with 10 years of experience, his first steps in Web3 started in 2017. Thomas holds a Master’s degree in physics and is currently doing a Ph.D. in economics. He started coding in the web3 space a few months ago.
Malte and Martin developed a first prototype of a crop microinsurance coverage together with external partners in 2017, and successfully pitched it at the Blockchain Competition in Zug, Switzerland. 
Kevin, Malte and Martin developed the Ocean Storm prototype (a parametric storm insurance for vessels on high seas) during the Chainlink Hackathon in fall 2021.
Thomas, Kevin and Martin worked on a parametric weather coverage in the Chainlink Hackathon in spring 2022.

Please have a look at the demo video of our Ocean Storm parametric insurance coverage developed for the Chainlink Hackathon in fall 2021. We are looking forward to realizing this ambitious project.