Skip to main content

FAQs ❓

About Kohin​

1: What is Kohin?

Kohin is the first decentralized insurance layer for prediction markets. It offers bettors a safer way to bet by insuring every bet, big or small, ensuring that you’re not left empty-handed when the odds don’t favour you.

2: Why does Kohin matter?

Kohin addresses the critical issue of risk management in prediction markets. By providing decentralized insurance, Kohin allows bettors to place bets with confidence, increases participation, and supports sustainable growth for platforms.

3: What is Kohin V1?

Kohin V1 is the initial release of Kohin’s decentralized insurance platform. It currently supports prediction markets on the Azuro Protocol, focusing on sports combo bets and providing a secure, user-friendly insurance solution.

4: How does Kohin benefit bettors and platforms?

Kohin addresses the risks involved in prediction markets and aims to achieve:

  • Increased Confidence: Allowing bettors to place bets without the fear of devastating losses.
  • Higher Participation: Providing a safety net that encourages more users to join and engage in betting.
  • Ecosystem Growth: Enabling safer betting opportunities, leading to increased volumes and improved user retention for platforms.

5: What prediction markets does Kohin support?

Currently, Kohin supports prediction markets built on the Azuro Protocol and is working to expand to other platforms like Polymarket.

6: What is Kohin’s vision for the future?

Kohin aims to expand insurance coverage to more prediction markets, diversify eligible bet types, and establish itself as a cornerstone for safer and smarter betting experiences.

Account​

1: Do I need an account to use Kohin?

No traditional account is required. You’ll need a crypto wallet compatible with Polygon to interact with Kohin.

2: Which wallets are supported?

Kohin supports popular wallets like MetaMask, TrustWallet, WalletConnect etc. Please ensure your wallet is connected to the Polygon network.

3: What if I lose access to my wallet?

Since Kohin doesn’t store user data, you must have access to your wallet’s private keys or recovery phrase. If lost, Kohin cannot recover your funds or account access.

4: Is there a KYC process?

No, Kohin operates on a decentralized model, so no KYC is required.

Bet Insurance​

1: What is bet insurance?

Bet insurance allows you to recover your stake if your bet loses. By paying a small premium, Kohin ensures you’re not left empty-handed.

2: How does bet insurance work?

  • Place your bet on a supported platform.
  • Purchase insurance through Kohin.
  • If you win the bet, you receive your winnings from the platform, but the insurance premium is non-refundable.
  • If you lose, Kohin refunds your stake after completing the claim process.

3: What is the insurance premium?

The premium varies based on the bet amount and odds. For example, insuring a $100 bet might cost $20 (illustrative).

4: How do I claim an insurance payout?

Claims are processed automatically with no questions asked. Simply complete the claim process on the Kohin platform to receive your refund.

5: What types of bets are eligible for insurance?

Currently, only sports combo bets are eligible for insurance coverage under Kohin V1.

6: How can I buy insurance for my bets on Kohin?

To buy insurance on Kohin:

  • Place a combo bet on a supported betting platform like Bookmaker.
  • Go to app.kohin.xyz and connect your wallet.
  • Navigate to the "My Bets" section and locate your bet.
  • Click "Get Insured" and review the insurance details.
  • Complete the payment for your insurance through your wallet.
  • Once purchased, view your active insurance slips in the "My Cover" section.

7: What happens after the match?

  • If you lose the bet, go to the "My Cover" section and click "Claim Insurance" to receive your bet amount in USDT in your wallet.
  • If you win the bet, the insurance cannot be claimed as the premium is non-refundable.

8: What other important factors should I consider before buying insurance?

  • Please note that an insurance claim can only be made if your bet loses by just 1 leg.
  • Kohin reserves the right to review the outcome of the game and enable the insurance claiming option upon approval in the following scenarios:
    • If the odds increase by 10% or more from the time the cover was booked.
    • If any of the sub-bets are cancelled.
    • In any scenario where unusual events are detected to protect platform users from bad actors or potential technical errors.
  • Insurance covers only the original stake amount of your bet. It does not account for potential winnings, premiums, or additional fees incurred.
  • Slippage or network transaction fees on the Polygon network are not covered by the insurance and are solely the user's responsibility.
  • All transactions are processed via automated smart contracts. Any disputes regarding payouts or deductions will be based on the contract's recorded data, which is final and binding.

Liquidity Pool​

1: What is a liquidity pool on Kohin?

A liquidity pool is a decentralized pool of funds contributed by users to support Kohin’s insurance payouts. By contributing, users can earn a share of the premiums paid by bettors.

2: How can I contribute to a liquidity pool?

  • Connect your wallet to Kohin, and navigate to the Earn section.
  • Click on the Add Liquidity button and follow the instructions.
  • Once you add Liquidity you'll start earning.

3: What are the risks of providing liquidity?

While contributing can be rewarding, risks include fluctuations in payout demands and potential loss of principal if payouts exceed premiums collected.

4: Can I withdraw my funds?

Yes, you can withdraw your contribution anytime, subject to pool-specific terms.

5: Are there limits on contributing to liquidity pools?

No fixed limits exist, but participation is subject to the available pool size and specific platform conditions.

Others​

1: Does Kohin have a governance model OR Token?

Not currently. Future iterations may introduce governance features and $KO Token to empower community decision making.

2: How does Kohin ensure compliance with regulations?

Kohin adheres to decentralized principles and strives to operate transparently within legal frameworks applicable to blockchain based services.

3: Where can I report bugs or provide feedback?

Join our Discord to report issues or share feedback. The team values user input to improve the platform.

4: Are there tutorials or guides available?

Yes, comprehensive guides and resources are available on Kohin’s YouTube and community channels to help users get started.