# Eligibility

Phoenix Cover is a Web3 insurance protocol that covers individuals up to $100,000 USDC in the event that their funds are stolen when interacting with a smart contract. Our mission is to bring consumer confidence back to Web3 and empower a community of traders, investors and hodlers.

We believe Web3 is struggling due to the prevalence of scams and fraud. We want to build a protocol that can protect the individual users so that if they do get robbed on-chain, they have a fall back position.


We have been working on this since September 2022, we did a launch under a different name and have since rebranded and expanded the team.

# Milestones 
## Achieved (these were set by VCs)
- Launching POC to prove demand
- Hire crypto actuary
- Figure out how to get policy limit to $100k USDC

## Long-term goals
- Increase the number of risks we insure
- Smart contract audit & staking infrastructure
- Insure $10m worth of assets
- Integrate risk oracle for further automation of claims process
