Tallinn, Estonia, April 28, 2021 (GLOBE NEWSWIRE) -- UnoRe, the world’s first decentralized reinsurance platform, has launched its IDO on the popular Decentralized Exchange Polkastarter.
UnoRe is allocating $200,000 worth of $UNO tokens to the Polkastarter IDO, at $0.12 per token. The IDO follows an earlier strategic private sale of $UNO, which took place in March.
Only whitelisted users can participate in the IDO, which includes $POLS holders and a standard (public) pool. Each of the pools has an allocation of $100,000 worth of $UNO. 980 winners of whitelist selection who have successfully passed KYC are eligible for the IDO; 980 of them qualify to buy $250 worth of $UNO token today.
Within 1-3 hours of the IDO start, $UNO is set to be listed on Uniswap, with initial liquidity of $200,000. Less than 2% of the token supply will be in circulation after the IDO, while the remaining supply will be distributed over the next 7 years.
“My experience within the sector made it apparent to me how reinsurance as an investment is a severely untapped industry. UnoRe was born as a vision to allow retail investors entry into this impervious market and enable them to leverage it to its fullest monetary potential. We are going to change the way risk-trading is transacted – forever! ” said Jaskanwar Singh, Co-Founder and CEO of UnoRe.
UnoRe is building its platform on Polkadot and Web 3.0 to offer simplified and digitized reinsurance, which is insurance for insurance companies. The ability to trade in this lucrative market has been controlled by a few large corporations for decades. UnoRe is the first company to let the average platform user enjoy the benefits of trading and investing in the reinsurance market.
UnoRe’s CEO and Co-Founder Jaskanwar Singh is a seasoned Health Insurtech specialist who has won several international awards for innovation in the Insurtech and blockchain industries. Co-Founder and CTO Sujith Sizon has received a Hall of Fame award as a top security researcher at Xiaomi. He also spearheaded several government appointed large tech projects.
UnoRe is currently developing products across several verticals in the reinsurance market – from traditional health and travel industries to parametric and crypto. The project is backed by a cohort of blockchain VC firms including Kyros Ventures, Black Edge Capital, Moonrock Capital, Fairum, DFG and many others.
About UnoRe
UnoRe is the world’s first decentralized reinsurance platform powered by Polkadot, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. The platform aims to break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest into the market while also introducing much-needed transparency into the industry as a whole. UnoRe will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the UnoRe ecosystem.
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About Polkastarter
Polkastarter is a fully decentralized protocol for launching new ideas. Our curation process and industry access enable us to offer the best new projects in blockchain and digital assets. With Polkastarter, decentralized projects can raise awareness, build a loyal community, and receive long-term support. Users of the platform will be able to participate in a secure and compliant environment and use assets both in and beyond the current ERC20 standard. For more information, visit polkastarter.com
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