Sales Policy


Uno Re will be insuring a set of pre-defined smart contracts/protocols. Each protocol will have an associated SalesPolicy contract which will be created by the addProtocol function in the Sales Policy Factory Contract. When the addProtocol function will be called a new Sales Policy contract will be created based on ERC271. The ERC721 is to represent bought policies for that particular protocol.

And we partner with Biconomy and support gasless meta transactions based on EIP-712 signature for the policy purchase function.


Buy Policy

To buy a policy for insuring funds in a particular protocol the buyPolicy function will be called through executeMetaTransaction function by the user.

executeMetaTransaction function is in EIP712MetaTransaction basic contract of biconomy, which is inherited into SalesPolicy contract and it will help gasless metatransaction with biconomy SDK or API.

We need to verify if the buyer sends the correct policy info including coverage amount and policy price. So we will check this function transaction on the backend using the signer's signature, which is determined by the project team.

    function buyPolicy(
        uint256 _coverageAmount,
        uint256 _coverageDuration,
        uint256 _policyPriceInUSDT,
        uint256 _signedTime,
        address _premiumCurrency,
        bytes32 r,
        bytes32 s,
        uint8 v

Input Variables :

  • _coverageAmount : refers to the amount being insured in that particular protocol

  • _coverageDuration : refers to the duration for which the cover is being bought

  • _policyPriceInUSDT : refers to the price of the policy in USDT

  • _signedTime : refers to the time at which the signature was signed

  • _premiumCurrency : refers to the currency in which the policy is being bought

  • r : refers to sign parameters

  • s : refers to sign parameters

  • v : refers to sign parameters

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