Decentralized crypto insurance powered by prediction markets and community staking.
Protect.it is a decentralized insurance protocol that enables users to hedge against smart contract exploits by participating in prediction-based coverage markets. Instead of relying on traditional insurers, users stake stablecoins either “for” (insure) or “against” (decline coverage) the likelihood that a given protocol will be hacked during a specified coverage period.
If a hack occurs and is confirmed via an oracle or governance mechanism, users who staked “for” are compensated from the opposing pool. Premiums and payouts are dynamically adjusted based on stake distribution, creating fair, transparent, and market-driven coverage.
To improve accessibility, Protect.it integrates Privy, offering a seamless, secure, and wallet-abstracted onboarding experience that lowers the barrier for non-technical users while maintaining full self-custody.
Built on an EVM-compatible chain with gas-optimized contracts and a UI inspired by Viem and Polymarket, Protect.it delivers a trustless, user-friendly, and community-governed alternative to traditional DeFi insurance models.
First we took time to brainstorm and write a MVP PRD We split the tasks as backend and front end.
FrontEnd: Built UI concept on Figma. Then Figma converted to JavaScript using rocket.new and Cursor. As JavaScript Structure was messy and lead to somme errors we migrated the UI to a TypeScript Format. Some minor visual modifications were made.
In parallel: BackEnd: Smart contract for the deployment of tokens for "yes" and "no" tokens. To Describe the Prediction Market based constant product AMM. And a factory to deploy the Prediction Markets.
We combined the FrontEnd and BackEnd and retook the UI.