Traditional insurance makes you file a claim and trust an adjuster. Refract makes the claim disappear. On-chain oracles verify the trigger condition and the contract pays out automatically — usually within seconds of a qualifying event. Capital providers underwrite the risk pool and earn premium yield; policyholders get guaranteed, instant coverage.
Trust the oracle, not the adjuster — and the oracle's methodology is fully transparent and verifiable on-chain.
| Type | Trigger | Base rate |
|---|---|---|
| 🪙 Stablecoin Depeg | USDC price < $0.95 for 15+ min | 3.0% / yr |
| 📉 Market Crash | Market index 24h return < −30% | 4.5% / yr |
| 🛡️ Liquidation Shield | Collateral ratio < 85% | 6.0% / yr |
| 🔐 Smart Contract Risk | Protocol TVL drops > 50% in 1h | 9.0% / yr |
| Flight delayed > 120 min | 2.4% / yr |
| Repo | What's inside |
|---|---|
| refract-contracts | Soroban (Rust) smart contracts — risk pool, policy registry, oracle |
| refract-backend | Oracle monitoring, claim processing, and the REST/WebSocket API |
| refract-frontend | Next.js web app for policyholders and capital providers |
┌───────────────┐ reads/settles ┌──────────────┐
data feeds ──▶ │ RefractOracle │ ◀────────────── │ RefractPool │ ◀── LPs deposit USDC
(price, TVL, └───────────────┘ │ prices·sells │ ◀── holders buy policies
flight, …) │ ·pays claims │
└──────┬───────┘
│ indexes
┌──────────▼────────────┐
│ RefractPolicyRegistry │
└────────────────────────┘
When a feed crosses a policy's threshold (and is fresh within 30 minutes),
anyone can call process_claim and the pool pays the holder instantly.
SECURITY.md.
We build in the open and welcome contributors. Each repo has a CONTRIBUTING.md
with a "good first contribution" list, plus issue/PR templates and green CI.
Start there — and be excellent to each other (CODE_OF_CONDUCT.md).
Refract is funded through Drips — every repo carries
a FUNDING.json so support splits transparently to the people building it.