Revolutionizing Onchain Insurance: Leveraging Veri

# Bounties and WHY:
1. Ora Bounty 1 - AI Oracle x DeFi: Our project harnesses the capabilities of Ora's LlaMA2 for constructing AI-enhanced DeFi applications. This powerful infrastructure allows us to integrate advanced AI analytics, improving decision-making processes within the DeFi space.
2. Ora Bounty 4 - ZK Oracle: Leveraging the ZK Oracle's capacity for historical data access and boundless computation, we have developed a fully automated hack detection system. This innovation is critical to our project's autonomy, enabling it to operate without manual intervention.

# Project Description:

Problem to Solve: 

DeFi platform vulnerabilities necessitate DeFi insurance to protect customers. The current claim process, based on the insurer's discretion, does not guarantee payouts for valid claims [1]. Additionally, the traditional method leads to lengthy, complex evaluations to ensure claims meet policy terms [2], resulting in:

1. Time-consuming processes

2. Controversies due to ambiguous policy interpretations

Solution:

We propose an on-chain, decentralized insurance model using a verifiable AI [3] to interpret coverage terms and assess claims. This model ensures fairness and transparency, supported by ZK-verified data via zkAutomation [4].

Conclusion:

Our system introduces a transparent, trustless claim arbitration mechanism in DeFi Insurance, employing @OraProtocol technologies.

Reference:

[1] [DeFi Insurance: Managing Risks of Digital Assets](https://neptunemutual.com/blog/defi-insurance-managing-risks-of-digital-assets/)
[2] [Why DeFi Insurance Needs an Ethereum-Native Claims Arbitrator](https://blog.kleros.io/why-defi-insurance-needs-an-ethereum-native-claims-arbitrator/)
[3] [@OraProtocol's verifiable LLM AI infrastructure](https://www.ora.io/app/opml/llm) 
[4] [@OraProtocol's zkAutomation technology](https://docs.ora.io/doc/cle-standards/zk-oracle/zkautomation)

# Slides:

2024/03 ETHTaipei Hackathon - Revolutionizing Onchain Insurance: Leveraging Verifiable AI for Ultimate Decentralized Coverage 

# Github Repo
https://github.com/ethTaipei2024/insORAnce

# Deployed Smart Contract
- InsOARnce smart contract (v2): https://sepolia.etherscan.io/address/0x9Fe737c0818a64Fc9b60D01bA2f1F8DC63C826Dd#events
- Mocked Protocol smart contract: https://sepolia.etherscan.io/address/0x9ebEE9820BfC27775D0Ff87dBA8e94B5FD52d9F3
- CLE smart contract:
https://sepolia.etherscan.io/address/0xebf8b8c3dfd9bdfe9700a2de90f7c226a7ce8ce5#internaltx

# Answers to the questions:
* You may build on top of projects for certain challenges.  => Built on top of OraProtocol
* You must clarify what was built during the hackathon in the description. => Everything other than the `AIOracleCallbackReceiver.sol` were built during the hackathon.
* How it's made? => PTAL the demo clip and slides for the design, flow chart and system architecture.

# Team description:
Poming Lee; [email protected]; Senior Security Researcher
Juno Chiu; [email protected]; Junior software engineer

# Category/Tags: #Ora#DeFi#ZK#AI