Takadao Docs
Takadao Whitepaper v2 (tDAOs)
Takadao Whitepaper v2 (tDAOs)
  • Introduction
  • PART A. BACKGROUND
    • 01 - The Insurance Industry
      • Origins of insurance: Mutual protection and risk-sharing
      • The rise of the modern insurance industry
      • The insurance industry today
      • Key Consumer Complaints Against Insurance Companies
    • 02 - Introducing Takadao
      • Takadao: Addressing Consumer Complaints and Industry Challenges
      • Basics of the Blockchain
      • “Taka DAOs (tDAOs)” vs. Centralized Insurance Companies
  • PART B. TAKADAO: THE DAOs
    • 03 - Takadao Technology
      • The Takadao technology stack
      • tDAOs’ user journey
        • Risk assessment and KYC
        • Contribution
        • Membership Credits
        • Get a Payout
        • Redistribution of Surplus
        • Participate in Governance
    • 04 - Underwriting & Risk Management Algorithm
      • Introducing Dynamic Underwriting
        • Absence of capital providers
        • Fluctuating reinsurance protection
        • Using data in real time
      • Takadao dynamic underwriting: A closer look
      • Risk and the Benefit Multiplier (BM)
        • Individual risk and the Base Benefit Multiplier (B.BM)
        • Portfolio risk and the Benefit Multiplier Adjuster (BM.A)
      • Dynamic Underwriting Reserves
        • Calculating the Benefit Multiplier Adjuster (BM.A)
        • The Dynamic Reserve Ratio
        • How underwriting surpluses are calculated
    • 05 - tDAOs’ Tokens aka Membership Credits
      • Membership Credits
      • Make a contribution, receive Membership Credits, become a member
      • Membership agreement
      • Redeem/burn Credits, exit the DAO
      • Credits determine insurance benefit
      • Discontinuing membership before contract maturity
    • 06 - Benefits Payout Protocol
      • Decentralized Benefit Payout Management (DBPM) - A multistage process
        • Stage One - Document Review
          • Pre-verification
          • Manual Verification
          • Stage One Results
        • Stage Two - IRL Verification
          • Stage Two Results
        • Stage Three - Professional Review
  • PART C. TAKADAO: THE COMPANY
    • 09 - The Takadao Vision
      • Vision & Mission
      • Business Model
      • Shariah compliance
    • 10 - The Takadao Token (TAKA)
      • Token Utility
        • TAKA for Fees
        • TAKA for Staking - Reprotection Pool (rePool)
        • TAKA for Rewards
        • TAKA for Governance
      • Token Supply and Distribution
        • Token Supply
        • Token Allocation
        • Token Emissions Schedule
      • Value Accrual and Price Stability: Sources of Token Demand
        • Buy Back and Burn (BBB)
          • Schedule for BBB
          • Mechanism for BBB
        • rePool Staking
          • Benefits of rePool
          • Distribution of rePool yield
          • rePool Loan Support to tDAOs
          • tDAO to rePool Loan Repayment Modalities
        • Lock-up and Vesting Schedules
  • References
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  1. PART B. TAKADAO: THE DAOs
  2. 06 - Benefits Payout Protocol
  3. Decentralized Benefit Payout Management (DBPM) - A multistage process
  4. Stage Two - IRL Verification

Stage Two Results

Stage Two verification sources and methods are disclosed to Verifiers on the Verifier Dashboard and results of the verification process are submitted on the same dashboard. As was the case with Stage One, depending on the type of protected event, a simple majority of Verifiers agreeing may be sufficient or a quorum may be imposed in order to reach the necessary evidentiary standard.

Request Approved. If evidentiary standard is achieved and the results are positive that the protected event occurred, the payout request is approved and payment is posted for final approval by the Treasury Committee (described in subsequent sections). The amount of the payout is determined by the underwriting algorithm and smart contract and is not decided by Verifiers.

Request Denied. If evidentiary standard is achieved and the results are negative that the protected event occurred, the payout request is denied and the member referred to fraud screening to determine if the request was fraudulent and if the member should be expelled from the DAO.

Request Deadlocked. If no evidentiary standard is achieved and/or the Verifiers are deadlocked on whether the protected event did or did not occur, the request is passed on to Stage Three.

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Last updated 6 months ago