SygmaOne

SygmaOne is a generalized framework for parametric insurance in Web3, enabling anyone to insure any type of blockchain transaction—from bridge transfers to swaps, oracle feeds, or liquidations—by indexing the transaction’s parameters, measuring its associated risks in real time, and automatically issuing on-chain or off-chain policies.

This allows protocols, wallets, and users to offer/receive protection with no paperwork, no claims adjusters, and no manual reviews.

Claims are settled instantly based on cryptographic attestations or cross-chain proofs, triggered only when specific, measurable risk conditions are met.

We use LayerZero’s lzRead to fetch remote chain state only at claim time, verifying whether the conditions for payout are met—keeping monitoring costs low while ensuring trust-minimised proof of loss.

This is just the beginning of a modular, composable insurance layer for all of Web3.

This project uses LayerZero messaging, more specifically lzRead to check the status of a bridging transaction on the destination chain to see if it has been received. If it has not been received within a specific timeframe, the user can claim the insurance. This type of insurance is called Parametic Insurance. We use Solidity with Foundry for the smart contracts and React+NextJs+DaisyUI for the frontend.