🌪️Natural disaster insurance

Onboarded projects need to stake CRST for the duration of the insurance period to gain access to the service

To ensure the permanence of captured carbon, Coorest collaborates with Etherisc to develop a DeFi natural disaster insurance product for NFTrees and CO2 tokens. Lost trees and released CO2 can be recovered through replanting minimizing negative effects on the backing of CO2 tokens. The onboarded project will be able to apply for this insurance to cover flooding, storms, and wildfire risks. Premiums are calculated based on natural disaster historical data for the onboarded area, the types of coverage, the period of coverage, cost of replanting. Premiums will be paid in stablecoins and CO2 tokens. Two decentralized risk pools (stablecoin and $CCO2) for this insurance product will be created. Satellite data provided by Floodlight will monitor and assess damages that trigger pay-outs from the risk pools. Pay-outs from the stablecoin risk pool serve to cover the replanting activities of the lost trees. The CO2 token risk pool serves to cover the lost and released CO2.