Discover more from OpenWorld’s Newsletter
1st AMA with CoverCompared (about CoverCompared)
25 April 2022
It’s the 1st AMA between OpenWorld & CoverCompared. Our partner is a project which provides insurance for crypto projects and users. During the AMA, you will be enlightened about the importance of insurance in crypto and discover more about CoverCompared services. Our partner also provides a 10% discount code. Let’s get started!
Mr. TranDzung | $OPEN: Hi @ksadani. Nice to meet you today!
Mr. Kunal Sadani | CoverCompared: Hello ! Thank you for having me here today 😁
Its a pleasure to get acquainted with the OpenWorld team !
Mr. TranDzung | $OPEN: Ok. Thanks too. I will mute the group to start the AMA. Today, OpenWorld community is honored to host Mr. Kunal Sadani @ksadani – The CEO of CoverCompared in order to have an AMA session with us.
For a brief introduction:
CoverCompared is a frictionless marketplace that offers a plethora of traditional as well as crypto-based insurance policies which can be purchased in exchange for cryptocurrencies. Our vision is to align insurance purchases with the core principles of decentralized technology to provide global access to everyone while offering a censorship-resistant platform and build a open-source technology governed by software and controlled by its users.
Please welcome Mr. Kunal Sadani – The CEO of CoverCompared to join us today!
In today’s AMA, we will have 3 main sections
Part 1: A few general questions from me for Kunal to explain about Cover Compared and what it does.
Part 2: Kunal will pick 3 community questions from Twitter and answer directly in here.
Part 3: The live section, community will bring live questions and Kunal will pick 2 of them to answer.
We are delighted to announce that there are rewards for AMA participants.
5 people with 5 chosen questions will be rewared $10 for each. Payment method is $CVR token.
Are you ready, Kunal? @ksadani
Mr. Kunal Sadani | CoverCompared: Let's get started 😎
Mr. TranDzung | $OPEN: Perfect! After you finish one question, please use the check mark✅. Then we will move to a next one
Mr. Kunal Sadani | CoverCompared: Sure!
Section 1: 5 Introductory questions
Mr. TranDzung | $OPEN: The first question for section 1 with 5 Introductory questions
Let us begin with a small introduction about you as well as your project
Mr. Kunal Sadani | CoverCompared: Well my name is Kunal Sadani and I am the CEO of CoverCompared.
As a bit of background on myself, I have lived in Dubai (UAE) for over 15 years. I’ve spent most of my career developing, building & managing large-scale B2C insurance products & markets for multinational insurers (AIG & Allianz). I have worked in senior leadership roles building products & partnerships in the Middle East & Africa Region. In my last position, I headed the Retail Insurance vertical for Policybazaar (an insurtech valued at over $1billion with VC partners like SoftBank & Tencent).
Our project came into fruition in late 2019 and the main aim is to emphasize safety for users by offering insurance coverage either in the traditional sense or for your crypto assets at affordable rates.
We at CoverCompared are bringing forth a platform that will offer a combination of traditional and crypto-asset-based insurance policies to our users at incredibly affordable rates, all in exchange for cryptocurrencies.
Mr. TranDzung | $OPEN: Very nice! It means your project has gone through many ups and downs of the market and still be there.
We know in crypto, if project can survive through hard tests, it will grow up more 💪
We are very excited to be joining hands with the CoverCompared community but could you let our communities know some of the benefits to be reaped from this partnership?
Mr. Kunal Sadani | CoverCompared: Very true!
We are equally excited to be collaborating with an amazing project as OpenWorld, especially with the future looking more towards Metaverse.
CoverCompared has always collaborated with projects that think on similar wavelengths as us. We are very happy to provide OpenWorld users with a special code- OPEN, that grants a 10% discount on all insurance policies listed on our marketplace while providing users with access to a variety of insurance policies by pioneering insurance providers, compare them, and almost instantly get coverage for their assets- be it crypto or NFTs, in the OpenWorld metaverse.
Mr. TranDzung | $OPEN: Regarding the 10% discount code, it will be given later after the AMA for potential investors / users on Cover Compared.
It's our pleasure to have a collaboration with Cover Compared, not only in the discount but also other things in future
Mr. Kunal Sadani | CoverCompared: Absolutely!
Mr. TranDzung | $OPEN:
I understand that your dApp is now live! Could you let me know some of the unique features it offers?
Mr. Kunal Sadani | CoverCompared: Well through our project, CoverCompared we aim in being the first within the DeFi space and CoverCompared can be defined as basically a frictionless marketplace that offers varied traditional as well as crypto-asset based insurance policies so that our users can customize & purchase as per their needs.
We take pride in being the first-ever platform to revolutionize the insurance industry by offering various policies all in one place in exchange for crypto tokens thus further pushing cryptocurrency as a mainstream payment system.
We are also the first-ever platform that enables users to engage in policy purchasing alleviating any burden of gas fees on our users.
Among all these unique features we offer, I have to say being the first-ever platform to offer both traditional and crypto-based insurance in exchange for crypto tokens is something that lets our dApp stand out from the crowd.
Mr. TranDzung | $OPEN: Insurance is important for crypto asset because crypto space is high risky with lots of holes for attackers.
For the sake of security and safety, insurance is helpful for crypto enthusiasts to sleep well without fear of nightmare.
It's very good to know Cover Compared is a project provides such services.
With crypto-insurance gaining large traction nowadays, how would you say CoverCompared stands out in the DeFi space ?
Mr. Kunal Sadani | CoverCompared: At CoverCompared, we are always on a constant journey to bring forth new innovations to the DeFi space that would suit the need of users.
As mentioned, we are the first-ever marketplace to offer a combination of traditional as well as crypto-asset based insurance policies & provide the option for our users to pick & choose as per their needs all in exchange for their crypto tokens. Our policies are also priced at extremely affordable rates than on any other platform without the hassle of gas fees.
With the DeFi space facing critical hacks on the daily, it is has become evident that Insurance has become an imperative need of the hour and CoverCompared aims to space the gap of deficiency of insurance within the digital world.
Mr. TranDzung | $OPEN: Your words enlighten people who have yet know about risks in crypto. Total value hacked on DeFi platforms have increased a lot in the past 2 years, according to report from Chainalysis.
Mr. Kunal Sadani | CoverCompared: Yes, the total funds lost to hacks just keep going up in trajectory.
Mr. TranDzung | $OPEN: True Kunal. With the growth of crypto and DeFi, it will increase more in future. I have no doubt about that. I also want to add the article on annual total cryptocurrency stolen in 2019 - 2021
Mr. Kunal Sadani | CoverCompared: Thank you !
A must-read for all crypto enthusiasts.
Mr. TranDzung | $OPEN:
For the sake of our user’s curiosity, what does CoverCompared have in store for the future?
Mr. Kunal Sadani | CoverCompared: That is a very intriguing question 😄
As mentioned, we aim to bring attention as well as provide much needed security and safety within the DeFi space but along with that we also aim to dominate within the insurance realm whether it be traditional or crypto-based.
We are very excited about all the works we currently have in the pipeline whether it be in regard to onboarding new partners or our dapp, we have so much more in store than what has been brought forth to our partner.
We are constantly & consistently trying to infuse the latest technology to bring forth innovative creations for our users & our future looks ever so bright. So stay tuned!
Mr. TranDzung | $OPEN: Great answer! We are going to the 2nd section of the AMA, with 3 chosen questions from Twitter.
Are you ready Kunal?
Mr. Kunal Sadani | CoverCompared: Let's keep it going 💪
Mr. TranDzung | $OPEN:
The first question from Yannlance on Twitter
Mr. Kunal Sadani | CoverCompared: Wow ! A very straightforward question😎
Well I think we have covered the part about how CoverCompared stands out in the DeFi space.
As crypto gains more traction and more users, people tend to forget the safety aspect of the space and we are here to help protect your crypto holdings via the varied crypto exchange & smartcontract covers we offer at never-seen-before. affordable prices.
Our partnership with OpenWorld will provide both our communities with global access to each of our unique services whilst also keeping the space open for us to potentially venture into the metaverse in the future.
Mr. TranDzung | $OPEN: Thanks for the answer Kunal!
The next question is from Msmijinyawa
Meanwhile, everyone can visit https://covercompared.com/ and discover their platform. There will be a last section, with live questions.
Please prepare your questions and ask here after I unmute the group. Then Kunal will pick 2 questions to answer. Please don’t send your questions to me in DM.
Mr. Kunal Sadani | CoverCompared: This partnership is aimed to mutually benefit both our communities as we offer crypto insurance to the OpenWorld community users for a discount and our users get to explore the wide metaverse of OpenWorld.
We would also be looking further to expand the intent of this partnership for the future.
Mr. TranDzung | $OPEN: A strong partnership is built between us. Additionally, we are aiming at building up a Partner Alliance which will bring positive net-effects in future. Together, OpenWorld, Cover Compared and other partners in our Partner Alliance can support each other from Marketing to Technical stuffs.
Let's move on the last question from Twitter.
This one is from BullGod19
Mr. Kunal Sadani | CoverCompared: Well currently on our dApp users can purchase device protection as well as medical second opinion products all for cryptocurrencies and at a 25% discount when using our token $CVR
We also have partners coming onboard that offer travel insurance as well as health insurance soon. This is only the tip of the iceberg as we are looking into expanding the traditional insurance coverages offered.
You can check our dApp out via the below link to learn more.
Mr. TranDzung | $OPEN: Impressive!
Previously, you told that there is 10% discount code for OpenWorld members in case they want to join Cover Compared. Could you share more details on how to use that code? Any article from Cover Compared on it?
Mr. Kunal Sadani | CoverCompared: Sure !
We will be providing a special discount code to OpenWorld users , using which they can purchase any insurance over on our dApp for a 10% discount.
You can read more on this in the link provided here : https://covercompared.medium.com/covercompared-collaborates-with-openworld-metaverse-ddbcb2761b31
Mr. TranDzung | $OPEN: Nice! Now, I will unmute the group and AMA participants will bring their questions to you. Please pick 2 questions to answer for this live section.
2 minutes later
@ksadani You can start to pick 2 questions
I see lots of messages from bot 🙃 but I think you can choose 2 authentic ones to answer
Mr. Kunal Sadani | CoverCompared: Wow ! Great to see an incredibly active community here 😊
Mr. TranDzung | $OPEN:
Question 1 from Bullish Doge @bullishdog3
Where all can I find $CVR listed?
Mr. Kunal Sadani | CoverCompared: This is a question I come across often. $CVR is currently listed on 3 exchanges which are:
Orion Protocol: https://trade.orionprotocol.io/pools/CVR-USDT
Mr. TranDzung | $OPEN: The market today is great for people who have spare money to accumulate discount crypto, exclusively $CVR
Links above, so make sure you do your due diligent research on Cover Compared and make your investment decision 🧐
Additionally, there is Hoo exchange https://hoo.com/spot/cvr-usdt
Question 2 from Altmaxine
What exactly is a DeFi insurance aggregator?
Mr. Kunal Sadani | CoverCompared: A really great question!
People often confused CoverCompared for an insurance provider but rather we remain as aggregators which means that we onboard insurance providers onto our platform who offers their services.
Our platform helps enable global access to users to purchase these different insurance policies in exchange for cryptocurrencies. As aggregators , we play the role of the middleman to ensure safety of the DeFi space as well as safety to our users.
Mr. TranDzung | $OPEN: Nice Kunal! It's very good to have middleman for safety of crypto users. Thanks for your time today to be here with us and informative AMA.
We will have recap for the AMA which will be published on Substack and Medium. Links are as follow
In case anyone missed the AMA, you can visit our landing page or Wiki and get link to our partner website
✅ Website: https://openworld.vision/
✅ Wiki: https://wiki.openworld.vision/backers-and-partners
CoverCompared logo already deployed on our landing page and soon OpenWorld logo will be deployed on CoverCompared at https://covercompared.com/partners
I will make an annoucement to claim AMA rewards, and will pass information to CoverCompared team for processing it.
In addition, tomorrow, we will be guest in the second AMA between us
This time, it will be hosted in Telegram of Cover Compared.
Make sure you check their social media channels for more information
Mr. Kunal Sadani | CoverCompared: Thank you so much for your time and once again, it was a pleasure being here 😊
Wish you all the best for your future endeavors !
Mr. TranDzung | $OPEN: 1st AMA winner list 🚨
From Twitter (use your Twitter account to claim reward)
From Telegram (DM @TranDzungOW on Telegram)
- Your ERC-20 address to claim $CVR reward
Thanks for your participation 🙏