The problem Nova Protocol solves

The Problem

Crypto is wild. From rug pulls to bridge hacks, users get wrecked all the time — and there's no safety net.

We thought:
Why should insurance be stuck in TradFi when Web3 needs it more than ever?
What if you could get covered without trusting anyone — no claims officers, no centralized middlemen, just pure, automated protection?

So we built Nova Protocol.

🌌 Enter Nova: Autonomous, Modular, and On-Chain Insurance

Nova lets anyone get decentralized, trustless insurance for their on-chain assets — whether it's DeFi protocols, bridges, or even your own smart contracts.

It’s smart. It’s automated. And yes, it’s powered by AI agents.

🛡️ What Can You Use Nova For?

✅ Get Coverage for your favorite DeFi protocol or wallet

⚙️ Autopay Premiums using a wallet-bound AI Agent

🤖 Build Your Own Agent that handles payments for you

🔍 Submit Claims that get verified via on-chain & off-chain data

💰 Earn Yield by funding risk pools and collecting interest

Now the How It Works:

1. Policy Engine + AI Agent a.k.a the Automation Layer
   Choose your category (bridge, protocol, wallet, etc.)

   Each category maps to a risk level

   Pick your coverage amount and duration

   Nova calculates a fair premium, and your AI agent mints the policy

   ➡️ Your agent has a wallet with autopay.
   ➡️ You fund it, and Chainlink Automation handles the rest.

2. The Yield Layer (Where Premiums Go)
   There are three risk pools: Low, Medium, and High.

    Each premium goes to the correct pool based on risk.
   
    LPs (Liquidity Providers) can stake ETH into these pools and earn rewards
   
   🎲 Higher risk? Higher yield.
   

3. The Verification Layer
   When something bad happens:

   Submit a claim.
   
   Nova’s Verification Layer kicks in.
   

Powered by Chainlink Functions, we fetch real data (like DeFi token crashes, exploits, etc.) from sources like CoinGecko.

If the data checks out — boom, your coverage hits your wallet.

💸 Want to Earn Instead?
Become a Risk Pool LP:

Deposit ETH into low, medium, or high-risk pools.

Earn interest on premiums paid.

Higher the risk, bigger the rewards.

🌟 Why Nova Is Different
✅ No centralized underwriters

✅ No manual reviews

✅ No delay if your claim is legit

🔁 Fully modular: AI, Chainlink, yield strategy layers

💡 Fully trustless: the whole system lives on-chain

Challenges we ran into

It was really hard trying to manage so many smart contracts since most of them are very interdependent on each other. But, it was definitely a learning point juggling so many interfaces and so many functions all while integrating them for the user experience.

We have more features on our mind but decided instead to focus on the important ones. Integrating Chainlink Automation for the Autopay was really hard and so were the Chainlink Functions but I guess that's what this hackathon was supposed to do, i.e. push us.