Dear Nami Community, Since 2023-09-05 07:30 (UTC), Nami Exchange has officially integrated Nami Insurance on the trading platform, providing users with effective tools to manage risks when trading with support for insurance of digital assets in Spot Wallet and Nami Futures USDT trading position. The following article will provide detailed instructions on how to use Nami Insurance on Nami Exchange. I. How to access Nami Insurance? 1. Login via Nami Exchange website. At the Product , select Nami Insurance 2. Login via Nami Exchange App. There are 3 different ways to access Nami Insurance from the Nami Exchange app: Homepage Interface, Spot Wallet and Nami Futures USDT Position Option 1 : At Homepage interface , user selects Insurance or Nami Insurance from quick selections Option 2 : At Wallet , select Spot , then choose Buy Cover Option 3 : At Nami Futures , select opened Futures Position, the detailed interface will appear, then choose Buy Cover II. Depositing and Withdrawing Assets in the Insurance Wallet 1. From the Website To check the balance in Nami Insurance Wallet, user clicks on " Buy Cover" . The Available is the Insurance Wallet’s balance. To Deposit into the Insurance Wallet, users click on the "+" symbol in the “ Available” section to transfer funds from Spot Wallet to Insurance Wallet. Ensure that the available balance is at least equal to the required margin to open an insurance contract successfully. 2. From the App Similar to the website, users click on the "+" symbol in the “ Available” section to transfer funds from Spot Wallet to Insurance Wallet . III. How to Make an Insurance Contract Nami Insurance currently supports two types of insurance contracts: Independent Insurance Contract Insurance Contract for Nami Futures USDT positions. 1. How to Make an Independent Insurance Contract? After logging into Nami Insurance, user has two ways to make an independent Insurance Contract: From the Website Step 1: In the Buy Cover interface, user selects the assets you want to insure and make a corresponding prediction ( Bull for an increased market or Bear for a decreased market). Tips: When predicting a Bull market, user may consider buy cover for Short Futures positions to minimize potential losses. When predicting a Bear market, user may consider buy cover for assets in your Spot wallet or for Long Futures positions to minimize potential losses Step 2: Nami Insurance system will automatically suggest the best insurance contract for you with specific parameters: Q-Cover, P-Claim, Period, and Margin . User is able to customize the input parameters if needed. The system will automatically provide the corresponding remaining parameters. Step 3: Click Buy Now to review the information then click Confirm . Next, choose View Details to review the detailed contract information. From the Nami Exchange application: Step 1: Access Nami Exchange app, select Insurance on the Homepage interface or Buy Cover on Spot Wallet Step 2: Select the asset you want to insure and your expectation (Bull or Bear). Nami Insurance system will suggest the best insurance contract with specific parameters such as Q-Cover, P-Claim, Period, and Margin . Users can also customize the input parameters. The system algorithm will provide the corresponding remaining parameters. Tips: When predicting a Bull market, user may consider buy cover for Short Futures positions to minimize potential losses. When predicting a Bear market, user may consider buy cover for assets in your Spot wallet or for Long Futures positions to minimize potential losses Step 3: After selecting Buy Now , user verifies the information and chooses Confirm . You can choose View Details to review the detailed contract information. 2. How to open a Nami Futures USDT Position Contract? From the Nami Exchange website : Step 1: In the Nami Futures interface, choose the opened Nami Futures position that the user wants to insure. Step 2: Select the order detail, then choose Buy Cover . Step 3: Nami Insurance system will automatically provide the Bull or Bear trend that opposes your Nami Futures position. You cannot change this trend, specifically: If the Nami Futures position is a Sell order, the insurance will support following the Bull trend. If the Nami Futures position is a Buy order, the insurance will support following the Bear trend. Additionally, Nami Insurance system will suggest the best insurance contract with specific parameters such as Q-Cover, P-Claim, Period, and Margin . User can also customize the input parameters if needed. In that case, the system algorithm will automatically provide the corresponding remaining parameters. Step 4: Select " Buy Now " to check the information and press " Confirm " to complete the making of this insurance contract. From Nami Exchange application Step 1: Choose the opened Nami Futures position that you want to insure. Step 2: From Details , select “ Buy Cover ”. Nami Insurance system will automatically determine the Bull or Bear trend, opposite to the Nami Futures position that the user has made. You cannot change this trend, specifically: If the Nami Futures position is a Buy order, the insurance will support following the Bear trend. If the Nami Futures position is a Sell order, the insurance will support following the Bull trend. Additionally, Nami Insurance system will suggest the best insurance contract with specific parameters such as Q-Cover, P-Claim, Period, and Margin User can also customize the input parameters if needed. In that case, the system algorithm will automatically provide the corresponding remaining parameters. Step 3: Select " Buy Now " to check the information and press " Confirm " to complete the making of the insurance contract. IV. Tracking Nami Insurance Contract Status 1. From the website. At the Buy Cover interface : Select Available Contract to view unexpired contracts Select Contract History to view expired contracts User can then choose an insurance contract to check the detailed information. For an expired contract, user is able to Buy back this one with the same information if needed. 2. From Nami Exchange App At the Nami Insurance interface, scroll to the bottom of the screen Select Available Contract to view unexpired contracts Select Contract History to view expired contracts Then, user can choose an insurance contract to check the detailed information. For an expired contract, user is able to Buy back this one with the same information if needed. Example A user purchases insurance with a BTC/USDT contract for a Bull market prediction with the Margin: 50 USDT, Q-Claim: 116.47 USDT, P-Claim: 32,317.5 USDT, Period: 1 day. After purchasing the insurance, the Insurance wallet will lock 50 USDT margin from the insurance contract. User's balance will then fluctuate according to the status of the corresponding contract: Claimed: If the BTC price touches the insurance claim price (P-Claim) of 32,317.5 USDT, the insurance contract is paid out. The Insurance wallet's balance increases by an additional 66.47 USDT (the extra payout portion for the insurance contract), and the locked 50 USDT margin in the Insurance wallet will be unlocked. (The insurance claim value Q-Claim = Margin + Insurance Payout) Liquidated: If the contract is liquidated or expires, the insurance contract is terminated. Contract Liquidated : If the BTC price touches the Liquidation Price (P-Expire) of 25,631.6 USDT, the insurance contract is liquidated. User loses the margin, and the Insurance wallet balance is reduced by 50 USDT. Contract Expired: At the contract's expiration, if the BTC price is at 28,000 USDT, falling between the Refund Price (P-Refund) of 29,577 USDT and the Liquidation Price (P-Expire) of 25,631.6 USDT, the user loses the margin, and the Insurance wallet balance is reduced by 50 USDT. Canceled : Users can proactively terminate the contract before its expiration under certain conditions: If the Market Price (P-Market) falls between the Refund Price (P-Refund) of 29,577 USDT and the Insurance Claim Price (P-Claim) of 32,317.5 USDT, and the 50 USDT margin is unlocked. The Insurance wallet balance remains unchanged. Refunding : At the contract's expiration, if the Closing Price (P-Close) is 30,000 USDT, falling between the Refund Price (P-Refund) of 29,577 USDT and the Claim Price (P-Claim) of 32,317.5 USDT, the user's margin of 50 USDT is unlocked, and the Insurance wallet balance remains unchanged. V. Insurance History Tracking User can use the Transaction History function to track your Nami Insurance transaction history. 1. From the Nami Exchange website. In the Wallet , select Overview , then Transaction History , and finally Nami Insurance. Choose a transaction to view detailed information. 2. From Nami Exchange App: In the Wallet, select Transaction History , then Nami Insurance. Choose a transaction to view detailed information. Important noted: Decreasing the ratio of Margin to Total Coverage (Q-Cover) gradually will increase the Payout Ratio (R-Claim), but the gap between the Liquidation Price (P-Expire) and the Market Price ( P-Market) is closer, the contract will be liquidated easier. When extending the insurance period, user will reduce the risk of liquidation due to the policy expiration, but the payout ratio (R-Claim) will be lower. To keep the same rate and margin value, user can adjust the Q-Cover higher The percentage on the chart represents the distance at a specific price level (P-Claim, P-Refund, P-Expire) to the market price. For more information Introduced Nami Insurance Hedging Protocol on Nami Exchange Description of glossaries used in Nami Insurance Status system Nami Insurance contracts Example of Asset Insurance for Spot Trading Example of Future Position Insurance How to use the Insurance Calculator tool? Note: Nami reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. Risk Warning: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Nami is not liable for any losses that might arise from your investment. This information should not be regarded as financial or investment advice. About Nami Exchange Nami Exchange is a trading platform belonging to the Nami Foundation ecosystem that enables dynamic trading and effective investing through its Spot and Futures trading systems, which offer a wide selection of nearly 700 trading pairs, support leverage up to x125, and 24/7 live support in Vietnamese & English. ___ Website: https://nami.exchange/ Download Nami Exchange app here . Nami’s community: Telegram Nami Global Community: https://t.me/NamiGlobalGroup Twitter: https://twitter.com/NamiExchange Facebook Global Community: https://www.facebook.com/groups/namiglobal About Nami Insurance Nami Insurance is a decentralized hedging protocol applying Blockchain technology to provide a solution to support asset insurance when the market fluctuates against predictions. Website: http://namiinsurance.io/ Whitepaper: https://docs.namiinsurance.io/ Twitter: https://twitter.com/nami_insurance