Description: Our Ethereum-based COVR tokens act as incentive-based fuels for the CrowdCoverage insurance ecosystem. Within the CrowdCoverage ecosystem, COVR tokens act as service validators, claims-management incentives, and anti-fraud devices. Primarily, COVR tokens operate much in the same manner as tokens in an arcade, or as service validators. That is to say, tokens must be used to “run” the CrowdCoverage platform. As such, tokens are included in the price of purchasing an insurance policy on the CrowdCoverage platform; this nominal fee serves multiple purposes.



Primarily, COVR token fees compensate for the gas used in the sending and receiving of tokens. A minimal amount is also retained by the company and used for maintenance of the platform itself.



Second, COVR tokens are used to incentivize the efforts of tribunal members. Tribunal members consist of users trained by the CrowdCoverage team according to a standardized protocol of investigating and voting on claims; in essence, they decide whether policy stipulations have been sufficiently met, and thus whether a payout should occur in the occasion of a claim. This reward mechanic ensures that claims are handled both fairly and efficiently. We are proud to announce, however, that we do NOT require that deductibles and premiums be paid in COVR tokens; on the alpha platform our users will be free to pay insurance providers in Ethereum. Eventually we hope to expand our catalog of cryptocurrencies accepted in our payments, but this will be largely determined according to demand by insurance providers. COVR tokens will only ever be required for incentivization fees, and even then we may later allow for internal platform atomic swaps, which will allow users to pay for their entire premium in the cryptocurrency of their choice (and that cryptocurrency will be immediately exchanged into COVR and the currency of choice for the provider chosen).





In an effort to promote community involvement, COVR tokens will also grant token holders special voting rights in Product Direction polls. At regular intervals, the CrowdCoverage team will hold votes asking its community to vote on, for example, the nature of product packages to be added to the platform, or which forms of insurance to include next. The more tokens a user holds, the more sway their vote will be given. Learn more by checking out our whitepaper.





Please note that each investor's right to tokens is contingent upon the successful development of such tokens and to the extent applicable, the blockchain upon which they function. There is no guarantee that successful development will ever occur. More can be read on this in the "risks" section of this document.