Active Coverage - The cumulative value, expressed in USDT, of all the policies that the Policy Holders have bought against a particular coverage pool.
Appeal - The process of re-assessing a claim that has already been decided on. In the Appeal process, the claim is evaluated only by Trusted Voters with high reputation scores.
BMIxCover Staking Contract - Smart contract pool that holds bmixCover and provides stakers with additional BMI rewards based on the Project X Coverage Pool utilization ratio.
BMI Staking Contract - Smart contract that allows users to stake BMI. Users who stake BMI receive stkBMI tokens, which accumulate BMI staking rewards and are eligible for voting in the DAO.
Capacity - The number of funds available for coverage; The current maximum obtainable policy amount for a particular Coverage Pool X.
Capital Pool - Smart contract that manages USDT deposited in all the Project Pools within the Ecosystem and the Reinsurance Pool. Generates yield via DeFi protocols.
Claimant - Policy Holder that has submitted a Claim.
Claiming Value - The amount of money that the claimant is asking for. This value should be supported by the evidence provided by the Claimant and cannot exceed the policy maximum.
Coverage - The right to submit a claim. If approved by the Voters, the claimant may receive compensation up to their policy maximum.
Coverage Event - Refers to any event covered by a policy that would make the policy holder eligible to make a claim and be reimbursed for a loss.
Coverage Pool - A pool of funds controlled by a smart contract that has been assigned to cover a specific project or platform.
Coverage Provider - A user that provides capital into a coverage pool.
Coverage Provider Yield - Yield that the Coverage Provider is earning in exchange for bearing the risk and providing liquidity to a given Project Pool. This accounts for 80% of the Premium.
Open/Active Claims - Claims that are in the process of being voted on. Voters evaluate the evidence provided by Policy Holders and decide on the validity of the Claim.
Policy Holder - A user that purchases coverage from a coverage pool against the capital provided to the coverage pool.
Premium - The amount paid, or that is required to be paid, for a specific coverage policy.
Project X - Any project with a coverage pool in the Bridge Mutual Protocol (X stands for the project's name).
Project X Coverage Pool - A coverage pool belonging to Project X (see definition above)
Protocol - Bridge Mutual’s platform and ecosystem.
Protocol Fees - Fees, wherever implemented, that accrue in the Reinsurance Pool (typically a nominal amount).
Reinsurance Pool - Accumulates Protocol Fees and revenue from the Capital Pool to the protocol's capital efficiency. Reinsurance Pool supplies funds to coverage pools in the ecosystem (earning yield and reducing coverage price).
Reputation Score - A user’s level of reputation on Bridge Mutual which increases or decreases based on how accurately a user assesses claims. The Reputation Score starts at 1.0x and can go up to 3.0x.
Shield Mining - A process in which projects can incentivize Coverage Providers with additional rewards in the form of native tokens of the Project X. Tokens are distributed to Coverage Providers of the Project X Coverage Pool as additional rewards.
Trusted Voter - The top 15% of active voters by Reputation Score.
Utilization Ratio - The amount of coverage funds that have been utilized by active policies against a coverage pool divided by the total amount of coverage funds available in that coverage pool. The higher the Utilization Ratio, the more expensive the Coverage. Suppose 1,000 USDT of coverage funds are available in a coverage pool, and active policies reserve 500 USDT worth of coverage. In that case, the Utilization Ratio for that coverage pool is 50%.
Voters - Users that stake stkBMI to vote on coverage claims. Voting power - Equals the number of stkBMI multiplied by the Reputation Score.

Token glossary

BMI token - The native token of the ecosystem. If staked, the user receives stkBMI tokens.
stkBMI token - Issued as proof of deposit of BMI. stkBMI grows in value and allows users to accumulate rewards from the Protocol’s reward pool. If staked, the user gains the right to vote on coverage claims.
bmixCover token - Issued as proof of deposit of USDT into any Project X coverage pool (for example, bmiSushiCover or bmiCompoundCover). bmixCover is a yield and risk-bearing token that accumulates USDT passively whenever a new Policy Holder pays a Premium in exchange for Coverage. Coverage Providers can stake their bmixCover tokens for a fixed period in exchange for additional rewards. When bmixCover is staked, the user receives a trade-able NFT bond. This NFT aims to give the user a way out of their position without removing USDT from the ecosystem; they can sell this NFT on the open market, and other users may purchase it to give themselves ownership over the staked bmixCover.
BMI NFT Bond - A non-fungible bond issued as proof of ownership of bmixCover deposited in the Staking Contract. The bond is fully transferable and can be sold on any NFT marketplace
ETH/BMI LP token - A liquidity Pool token issued to the users in exchange for providing BMI liquidity on Sushiswap.
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Token glossary