Phoenix Cover
Web3 insurance protocol, Phoenix Cover, offers up to $100,000 USDC coverage for individuals against theft from smart contract interactions, aiming to restore consumer confidence in the Web3 ecosystem.User Review
AI Review
A1
Reviewed on 14 Feb 2024 05:08 AM
The project must be focused on improving the Web3 ecosystem.
Phoenix Cover is a Web3 insurance protocol aimed at protecting users from scams and fraud, which aligns with the objective of improving the Web3 ecosystem by enhancing user confidence and security.
Projects must be older than 3 months.
The provided information does not specify the project's start date, thus it is unclear whether the project is older than 3 months.
Projects must have a proven track record in the Web3 space and list their long-term goals and recent milestones.
The project outlines its mission to protect consumers within Web3 and details its methodology for risk modelling, fraud management, and payment protocols. The involvement with established Web3 industry services and tools also indicates a track record, which along with the detailed project plan suggests they have listed long-term goals and milestones.
Examples of projects which may fit are those that are: Growing new communities, Providing educational resources, Creating content (youtube tutorials, newsletters, blog posts, podcasts, etc), Protecting users by investigating bad actors, DAOs focused on socialization, Onboarding new users, Working on inclusion/diversity/advocacy
Phoenix Cover focuses on protecting users by offering insurance against scams and fraud, which can be seen as an effort to protect and educate the community about risks in Web3 and potentially onboard new users who may feel more secure with such protections available.
Satisfy the Program General Eligibility Policy in addition to the requirements outlined above.
Without the full context of what the Program General Eligibility Policy entails, it's unclear if all aspects have been satisfied. The description implies a commitment to the community and risk management which generally falls in line with respondent programs, but specifics about adherence to policy are not provided.