HawInsure is a generalized options suite built on the Ethereum blockchain that allows DeFi users to create put and call options. HawInsure also provides an easy interface to buy and sell options.
Put options work as insurance in traditional finance. A put option gives the buyer the right to sell a set stock at a specified price on or before a set date. This means that no matter how low a stock's price goes, the investor has the right to sell the stock for the agreed upon price. HawInsure uses put options to provide option buyers insurance on their Dai and their assets on Compound (Dai and USDC).
HawInsure allows options sellers to earn premiums on their collateral and allows options buyers to protect themselves against technical, financial and systemic risks in DeFi. These risks include hacks, bank runs, a DeFi crisis etc.