Stage One Results

Minimum Evidentiary Standard. The results of each verifier is submitted through the Verifier Dashboard and if the minimum evidentiary standard is met, then the request is either denied or issued a conditional approval. The minimum evidentiary standard differs depending on the type of protected event being verified. In some cases, a simple majority of Verifiers with the same result may be sufficient. In other cases, a quorum (e.g. 70% of Verifiers) may be imposed in order to fulfill the minimum evidentiary standard. The minimum evidentiary standard is specified in the bylaws of each mutual protection DAO and coded into smart contracts that control the payout process.

Conditional Approval. If the Verifiers agree that the documents are authentic and that the protected event occurred, a conditional approval is issued and the request is moved to Stage Two.