Platform, ongoing works and plans

From last time update, we have completed the Aigang.Data Insurance Risk Model Upload functionality and social features (comments). The integration with MetaMask is also completed and it will be a link for user experience between Aigang.Platform and their personal wallets (eg. staking AIX). For those who don’t have AIX tokens on their wallet, we are building a convienent tool in Platform to buy/sell/trade AIX tokens from open market (and in future with fiat), to be able to use Aigang platform with AIX tokens.

Development update:

Development team has started to publish short updates on development work sprints, published every 2 weeks — https://github.com/AigangNetwork/aigangnetwork.github.io/wiki

It covers news and updates to Production (eg. new releases for Platform or protocol), QA ready for testing and tasks for next sprint. We hope it will give more light to our work and approach towards building Aigang and involve more people to contribute.

We also have made a decision to create a testing group for development and releases. Everyone who can and want to help us with feedback, testing and fixing bugs will be able to join internal bug bounty and testing group and can share a reward pool for their work. Will be announcing as separate post soon.

Insurance Risk Model: Product for Phone Battery Insurance

Based on the data we collected from our PoC apps for phone battery insurance, we have created first Insurance risk model and it is uploaded to Aigang Platform. Our first risk model is based on AIX tokens, meaning paying for insurance, payouts for claims and insurance capital pool will be based on AIX tokens. It is likely that for this first smart contract insurance we will make full insurance pool from Aigang wallet, and in future we will be adding a community based insurance risk pooling (example of investment in insurance can be found from our earlier PoC — https://investment.aigang.network/insurer.html).

Full product description (for insurance geeks) — https://bit.ly/2wYCVY6

Prediction Markets (light): Product for Phone Battery Insurance

As mentioned before, we are working for our Aigang.Predictions platform part and first decision we took was to use our Insurance Risk model and product for phone battery as test case scenario.

Eg. our first Prediction Market for Phone Battery Insurance can have these questions as input, and output in answers from Insurance product smart contracts:

What will be the profit ratio of the pool?

a) Expected 25%

b) Higher than 25%

c) Lower than 25%

How much premium will be written?

a) 9,000–10,000 AIX

b) More than 10,000 AIX

c) Less than 10,000 AIX

What will be the loss ratio of the pool?

a) 50%-60%

b) Lower than 50%

c) Higher than 60%

What will be the claim frequency?

a) 5.0–10.0% (5–10 claims per 100 policies)

b) Lower than 5.0%

c) Higher than 10.0%

We are working on Prediction market architecture & PoC, and will be announcing its release as we get closer to implementation.