(06:36) A DAO (Digital Autonomous Organization) is a form of cooperative structure that first appeared when ethereum was launched. The idea is essential in the iTrust architecture because the company wants to build a fully decentralized community-driven organization. While there is a need to build some foundational structures as it starts, iTrust aims to be fully decentralized within three years. A DAO would enable iTrust to help multiple protocols build cover capacity and to create a decentralized community that takes ownership of the DAO and help steer its direction.
Currently, iTrust is building the vault structures of Nexus Mutual (the launch case) to build its cover capacity, then onboard future insurance protocols. But eventually, when fully decentralized, iTrust wants the community to build the vault structures that people can stake into.
iTrust From User’s Point of View
(10:32) A user would need to log into the platform with their metamask, after which they would be several vaults they can stake into. At launch, users would be able to stake directly into two vaults, the Nexus index and an iTrust low-risk strategy vault. The iTrust low-risk is the company’s strategy vault including various pre-accessed contracts; risk-assessed, and smart contract audited.
(11:38) As other insurance protocols are onboarded in future, additional vaults would be created. Once there are multiple insurance protocols, there is a possibility of cross-protocol vaults with higher yields across different combinations,
“… a lot of users don’t know what contracts to stake into but if you’re not staking, you don’t benefit from earning rewards across the multiple contracts you can stake against. I think there’s one side of the user’s perspective of just not wanting the administrative burden and having to manage the stakes but also, there’s a lack of understanding as of what you can do and I think that’s where we’re trying to fill with an easy to use, simple direct platform,” Robert explained.