On Sunday, April 18th, we had the pleasure to welcome to our Telegram chat:
Jaskanwar Singh, The CEO & Co-Founder of UnoRe, and
Sujith Sizon, The CTO & Co-Founder of UnoRe.
We asked them questions about the development of UnoRe.
Q~ Briefly introduce yourselves, a bit of your backgrounds and how you got into crypto?
Jaskanwar Singh : Hi all! My name is Jaskanwar Singh, and I’ve been in tech and insurance for most of my career. I was CTO to the 4th largest health insurance provider in the Middle East- the youngest ever in the region. I was also awarded the “Top 50 Tech Innovators” award at InterCon the same year for my contributions towards the technology sector; I’m super excited to be here today!
Both Sujith and I got interested in the crypto space before the last ICO boom. We saw the potential and we were excited! Later on in 2017 Sujith and I built a decentralized app (dApp), a first-of-its-kind car trading platform built on the blockchain called AutoChain. This was when we dove into the crypto space wholeheartedly, I would say.
Sujith Sizon : Hi guys, how are you all? I am Sujith Sizon, co-founder of UnoRe. I have worked with several state-sponsored studies regarding insurance trends in the KSA, and I’m also a tech strategy consultant at Management Partners — commonly known in the industry as the ‘McKinsey of the Middle east.’ Thanks so much for having me 😁
With our experience in insurance and technology along with a great team backing us, UnoRe is sure to reach inimitable heights! 🚀
Q~ Let’s learn some more about the project. What is UnoRe all about in detail?
A~ Firstly, UnoRe is the world’s first reinsurance trading platform, powered by Polkadot. A platform where we will allow the community to invest and earn huge returns from one of the safest asset classes in the world.
Our project will remove barriers to entry for investors regarding capital and regulations while also enabling users to involve themselves in the process of insurance and reinsurance at the same time!
We will also evolve into a cutting-edge reinsurance platform that not only allows people to design and create innovative insurance products, but also helps the community access risk as a wealth-generating tool. Additionally, they earn large profits and trade in the same for similarly sizable returns 💸
Q~ Share with us the usecases of the $UNO token?
A~ There are multiple use cases for the $UNO token, and it is an integral part of all three verticals of our platform. All the token use cases/ utilities can’t be listed together, some of them are listed below:
1- Users can buy insurance using the token; they will also be offered discounted rates if they use $UNO.
2- They will receive all claims in the form of $UNO and reinvestment in the form of staking using the token will further be incentivised.
3- In order to invest in Risk Pools, transaction fees will have to be paid in the $UNO.
4- In order to be an innovator, $UNO proportional to the minimum sales goal has to be staked.
Cassiterite : Would you like to share the minimum. % ?
Sujith Sizon : This % will be calculated by the UnoRe actuarial team for each case based on the product proposed!
5- If part or all of the claim is retained in $UNO, users will be provided with access to VIP staking pools where they can make up to 60% APY!
In addition, those who stake the token for a specified time and who meet our criteria will be able to join the governing body of UnoRe as underwriters, as part of the actuarial team, as claim assessors, and so on.
We will be releasing detailed tokenomics soon as well, so please make sure to follow our social media for updates on that! 😁
Q~ Did you raise funds so far? Can you share more details about your private sale rounds ?
A~ Yes! We have raised funds and we have basic reserves thanks to our venture capital partners and their assistance. The private sale was a huge success as well. We were oversubscribed on the second day of sale due to high demand, and we have also received 2500+ allocation requests till date. In addition we have received more than $38 million in strategic sale allocation requests, so you can see how excited the community is about our project!
We have an article up on our Medium about our private sale, check it out! 😁
Private Sale Closed with Overwhelming Demand
UnoRe’s team is eternally grateful to the crypto community’s support of our groundbreaking project. We are excited to scale our operations…
Q~ Could you share the recent progress and your future plans for UnoRe with us?
A~ Sure. Recently, we’re very excited to have partnered with crypto insurance protocol PolkaCover and we have more partnership announcements lined up! We plan to complete the development of our risk investment platform and our platform for innovators (Build Your Own product) in Q2 2021.
Additionally, there has been significant progress in developing our platform dApps, and we’re currently on track for a pretty exciting launch! Stay tuned to our social media platforms to know more!
In the coming few months, we will be onboarding multinational reinsurance brokers (innovators and insurtechs). In Q3, we will be launching UnoRe’s legal entity, providing reinsurance capacity. Lastly, in Q4, we will be launching our platforms on the Kusama testnet.
Like I said, we are on track to launch as scheduled and we are at the stage where we have doubly intensified our marketing efforts — so make sure to follow all our social media to keep updated!
QUESTIONS FROM TELEGRAM
Q~ Different partnerships are essential for insurance projects. We need to work with other projects to create an ecosystem. What is the partnership of UnoRe? Is there any criteria for a partnership?
A~ Absolutely, I agree! Like I said, we’re very excited to have announced our first partnership with Polkacover recently. We at UnoRe believe in choosing partners that bring value to the vision of our project — which is to deliver the world’s first. comprehensive, decentralised reinsurance platform catered to the needs of the community.
So all I can say is keep a look at our social media platforms for exciting announcements soon to come! 😉
Q~ What do you value most in future project development? Where will you start? What is the general plan?
A~ Our next priority will be to create our reinsurance cell. We’ve already begun this process and also are on track to complete the development of our risk investment platform and our platform for innovators (Build Your Own product) in Q2 2021.
We’ve also made significant progress in developing our platform dApps, and are currently on track for a pretty exciting launch! 😄👌
Q~ Where can I find details information about your team members?
A~ You can find all details on our website unore.io and also on our social media! 😊
Q~ Congrats on getting your first client and partner Polkacover, can you give us more details on this partnership, what will you be offering them?
A~ Thanks, appreciate it ☺️ By partnering with Polkacover, we plan to increase their reinsurance capacity — UnoRe will provide them with additional liquidity and a second layer of protection to supplement their reserves, thus ensuring they remain on the competitive and creative vanguard 💡
Q~ Is the $UNO an ERC20 token or BEP20 token? What blockchain will you work with? Thank team UNORE 👍👍
A~ Both! As for your second question, initially we’ll be launching our platform (BYO and investment portal) on Binance Smartchain. Meanwhile we will also be conducting testing activities on the Kusama network; once the Polkadot mainnet is live and our team is comfortable, we will be migrating all our platforms there 👍
Q~ Having previous experience in the field of Insurance, what are the problems and gaps you are addressing and how do you plan to solve it?
A~ The current reinsurance industry is highly exclusive as well as restrictive. This means that not only is it closed off to investors, it also stifles innovation causing inadequate coverage in the crypto insurance industry. This in turn affects the end user as they will not be protected adequately.
We will solve these issues by providing a platform for innovators, investors, and also for traders to buy and sell risk in a safe manner.
Going back to why we started UnoRe, we are going to propel the next generation of insurance products with our platform for innovators giving users access to new generation insurance products. With our platform for investors, we are going to make this closed off industry accessible to everybody, and with our platform for traders, we will allow the community to trade in one of the safest asset classes in the world, risk!
It’s really nice having the UnoRe project in here!!!
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