💰 Plans and cover details

Below are the plans that DegenInsure supports, as well as their requirements.

Primarily, DegenInsure offers cover for

• Hard rug pulls

• Slow rug pulls

Under the following plans

• Basic plan (5K $DGNS holding required, covers up to $1k worth of assets, gets you 50% reimbursement in the case of hard rugs and 60% reimbursement in the case of slow rugs)

• Standard plan (7.5K $DGNS holding required, covers up to $2.5k worth of assets, gets you 60% reimbursement in the case of hard rugs and 70% reimbursement in the case of slow rugs)

• Premium plan (10K $DGNS holding required, covers up to $3.5k worth of assets, gets you 75% reimbursement in the case of hard rugs and 80% reimbursement in the case of slow rugs)

• Advanced plan (15K $DGNS holding required, covers up to $5k worth of assets, gets you 75% reimbursement in the case of hard rugs and 80% reimbursement in the case of slow rugs)

• Elite plan (30K $DGNS holding required, covers up to $7k worth of assets, gets you 85% reimbursement in the case of hard rugs and 90% reimbursement in the case of slow rugs)

• Ultra Degen plan (80K $DGNS holding required, covers up to $10k worth of assets, gets you 90% reimbursement in the case of hard rugs and 95% reimbursement in the case of slow rugs)

Hard Rug Pulls

The following criteria must be met for you to be eligible to claim

• you must be holding any of the above amounts of $DGNS and must have paid your premium.

• you must have purchased a plan before the rug pull happened.

• you must still be holding the required amount of tokens under your plan when you go to claim.

• The DEX where the token was traded must have been a well-known and established DEX, and must be based on Ethereum with at least $50M daily trading volume

• No Ponzi schemes or projects with unusually high APYs (>100% APY) are covered. Equally, no Ohm forks or derivatives are covered.

• The project must rug at most 3 hours after its launch for full reimbursement, and you must still be holding 100% of your purchased tokens after the rug.

• The token rugging cannot have been an obvious rug (unlocked liquidity, botted chat, no website, no roadmap, botted socials, etc.

• Newly-made and unestablished meme tokens are not covered.

• Substantial supply must not have been held by the deployer.

• The launch must not have been heavily sniped or have weird pre-launch movement.

• Anti-whale measures must have been taken at launch.

• More than 2 influencers with scamming track records should not be used for marketing purposes.

• The deployer wallet must not have links to previous scams.

• No weird pre-launch token transfers (except publicly stated ones to influencers).

• Pre-launch liquidity must be greater than 2 ETH.

• No unusually high buy/sell tax (>5%).

Slow Rug Pulls

The following criteria must be met for you to be eligible to claim

• you must be holding any of the above amounts of $DGNS and must have paid your premium.

• you must have purchased a plan before the rug pull happened.

• you must still be holding the required amount of tokens under your plan when you go to claim.

• The token devaluation must be 90% or higher from where you purchased

• The team must be totally inactive. No mods or team members presence in the group

• The project must have been abandoned within the time in which you purchased and activated your plan.

• You must not be holding >50% of your initial bag if you bought in early and had multiple chances to sell at great gains

• The project must have had a product or visible signs that they were building one (screenshots, GitHub repos, etc)

Before going to claim

• ensure you have tokens in the wallet you're using to claim or the form will not submit

• ensure you have a plan

All the above plans last for only 14 days each, at which point you will need to purchase cover again if you wish to be covered. Equally, insurance is offered in tranches of $20,000, at which point another tranche will be opened after the first one closes.