TX Delay Insurance

Problem Statement

This project provides a solution for mitigating the inconvenience and financial loss caused by transaction delays in Ethereum Virtual Machine (EVM) networks. It introduces a smart contract that acts as an insurance provider, allowing users to reclaim losses incurred due to delays without modifying their original transactions. The solution also uses an RPC proxy to record proof of transaction delays, enabling efficient claim processing.

Solution

This solution involves creating a smart contract that acts as an insurance provider for transactions. The contract will allow users to purchase insurance for their transactions, which will cover losses incurred due to transaction delays.In order to avoid modifying the original transaction, we provide a proxy RPC, which records the timestamps / block number when the transaction is broadcast and executed. This proxy signs the interaction, so it can be used as a proof of transaction delay when claiming the insurance payout.