Fairside Claim Process

Claims are accessible to users with an active membership or coverage. Users with expired memberships have a 60-day grace period to file a claim for a loss which occurred during their active membership. After the membership has expired for more than 60 days, claims are not eligible within the system.

Approved losses will be settled in ETH, regardless of the chain or type of assets lost. All losses considered for sharing will be valued in ETH at the time of the loss. 



For example, if a member suffers a theft resulting in the loss of a Pudgy Penguin NFT valued at 10 ETH at the time of loss, 1000 LINK valued at 4.5 ETH at the time of loss, and 2000 TON valued at 3 ETH at the time of loss, the total claim amount eligible would be 10 + 4.5 + 3 = 17.5 ETH. To file a claim, users will need to pay a minimal fee for filling the claim, this payment is to off set a portion of the cost of the investigation.

Claim Filing Process

The process for filing a claim consists of three steps:

1. Payment for CSR:

   Users start by paying a fee and providing basic information about the loss.

2. Submit Detailed Report:

   Users then submit a comprehensive report detailing how the loss occurred, along with any evidence, using Hubspot forms. This information is saved directly in Hubspot. Users may optionally provide a local police report or other supporting documents and must specify the address for receiving claim funds.

3. KYC Verification:

   Finally, users complete a KYC form. Once successfully submitted, the claim is officially filed. Until this step is completed, the claim is marked as "Draft" and is only accessible to the user. The management page does not display Draft claims. After submission, lead assessors can access all claim information in Hubspot and begin their investigation. The lead assessor must return to the DAPP to upload their report once the investigation concludes.

Administrative Actions

Once a claim is submitted, assessors/cyber investigators can begin their investigation, setting the state to "Under Investigation." After completing the investigation and uploading their report, the state changes to "Investigation Completed."

Administrators then manage the claim through several stages:

• Preparing Vote: Admins prepare for the voting process by interacting with the smart contract using the createProposal method from the DAO contract.

• Casting Vote: Admins cast votes on-chain using the castOffChainVote method from the DAO contract.

• Preparing Payout: Admins prepare for the claim payout. If the claim is approved, the admin interacts with the smart contract using the processCostShareRequest method from the Claim contract via the Defender platform using Multi-Sig. This action emits the PaidCSR event, which the backend intercepts to save the payout amount and transaction hash in the database.

Claim Amendments

Users can submit an appeal to amend claim details once per claim. The appeal process is handled on the blockchain similarly to the original claim process. Only one appeal can be submitted per claim.