Fairside
  • Overview
    • The Problem: We Lack Consumer Protection
    • The Solution: Community Aligned Coverage
    • Vision & Mission
  • Membership and Coverage
    • Membership Signup
    • Covered Assets
    • Covered Events
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  • Claims and Valuations
    • Valuation of Loss
    • Claims Assessment
    • Claims Process
  • Capital Pool and $FAIR Token
    • Capital Pool
    • What is $FAIR?
    • How $FAIR Works
    • Benefits of Holding $FAIR
  • Technical Overview
    • $FAIR
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    • Fairside Claim Process
  • Solution Design
    • Capital Pool: Bonding Curve Overview
      • Fairside Bonding Curve
      • Bonding phases
      • Funding Pool
      • Bonding Curve Formula
      • Bonding Curve Safeguards Mechanisms
    • Fairside Network
      • Fairside Network Model
      • Membership details
      • Membership fee distribution
    • Fairside Claim Process
      • Cost Share Benefits
      • Claim & appeal process
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  1. Claims and Valuations

Valuation of Loss

ETH and Altcoins:

  • ETH: The value of your ETH is straightforwardly calculated based on the market price at the time of loss.

  • Altcoins: Similarly, altcoins are valued based on their market price at the time of loss. On rare occasions, for altcoins with extremely low liquidity, we will evaluate them on a case-by-case basis to ensure a fair and accurate valuation.

NFTs:

  • For you:

    • Self-Report: You'll just need to fill out a self-report detailing the NFT's valuation at the time of loss. This gives you the chance to notify us of aspects that may affect its valuation- such as locked tokens, IP prominence, and rarity.

  • For us:

    • Appraisal Services: We gather data from three reputable NFT appraisal services

    • Internal Valuation: Our internal team conducts an independent valuation considering factors like floor price, standing offers, past sales, and rarity.

    • Comparison and Review: We compare the internal valuation with the data from appraisal services and your self-report to ensure accuracy.

    • Manual Review: A final manual review is conducted to confirm the valuation

If you disagree with the final NFT assessment, please file an appeal for a reassessment.

This process ensures that you receive a fair and accurate payout based on the current market conditions and comprehensive evaluations.

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Last updated 7 months ago