# The Onboarding Process

As with any insurance product, Know Your Customer (KYC) checks are a mandatory requirement. This serves as the first line of defense against scammers and fraudsters. There will be a combination of onboarding options and approvals before the insurance coverage inception.

### Onboarding Options

* Existing Owners of Pains NFT (OGs) prior to the launch of the insurance product
  * All OGs will be offered insurance coverage. We assume that anyone who has held a Pains NFT for over two years is not a scammer but a supporter of the project.
  * A claims form and KYC information will be required before any claims are paid, to prevent duplication and ensure thorough wallet analysis.
* New Owners of Pains and all claims reported will be subject to:
  * Wallet Risk Analysis by both Xerberus\* and Crowed Trends\*\* (more details on Xerberus and Crowed Trends below).
  * Manual checking by the claims manager using TapTools.

New users joining the Pains ecosystem must hold a minimum value of ADA before purchasing insurance. It wouldn’t make sense for someone to buy insurance if they don’t own ADA or tokens to insure. Therefore, we’ll set the following criteria:

* Minimum wallet value: 1,000 ADA.
* Minimum wallet age: 3 months.
* Exemption: Those who agree to share their premium LinkedIn or verified social media accounts (X, Instagram, Meta) will be exempted from these requirements

## The Xerberus Protocol&#x20;

The Xerberus Protocol introduces a blockchain-based solution for assessing and managing risks associated with crypto assets. Traditional financial metrics do not apply well to these assets due to their decentralized and novel nature. Xerberus uses a mathematical framework called the "Wallet Graph" to analyze transaction data across blockchain networks, creating a risk rating system for tokens. This system evaluates factors like decentralization, diversity, and liquidity to generate reliable risk scores. The decentralized protocol allows node operators to validate data and involves on-chain governance to ensure transparency and accuracy, making it a valuable tool for the growing DeFi ecosystem.

{% embed url="<https://www.xerberus.io/>" %}

## Crowded Trends

Crowed Trends, a data-driven platform on the Cardano blockchain that provides independent, unbiased insights for dApps and blockchain ecosystems. Currently, we use Looker Studio for self-service analytics and Python with Twitter APIs for real-time data. Our infrastructure combines bare metal and cloud, with data stored in PostgreSQL. In the future, we plan to migrate to decentralized storage and expand our tech stack. We also aim to offer exclusive content for NFT holders within the Cardano ecosystem via WordPress.

[linktr.ee/crowdtrendz](https://t.co/UGiptMrcwP)

## JotForms

Also onboarding should be fun easy and friclines, we shall be utilizing Jotform enterprise to manage the forms for both onboarding and claims management.
