Proposal to extend insurance period

The current insurance periods are less than a month. I think the platform would offer more stability with a longer duration period. Additionally, a longer period would help mitigate gas fees to those who partake in the insurance. At the same time, the risk increases for those providing insurance with a longer period. My proposal is to add multiple insurance pools with different time periods. A 1 month, a 3 month, and a 6 month. I would propose that the APR % increases as locked time increases.

Little notes about gas fees…
As LP we can do nothing, because our liquidity automagically migrate into next epoch if we didnt pulled out it inbetween epoches.
What about different timeframes for pools - I agree it can be good idea…
but… is it possible maybe to invent some mechanism which allow insurance buyers automatically switch their insured positions between epoches ?

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I think I like this idea and would like to understand if it’s possible as well, and what that would look like.

One way how it can be achieved (theoretically)) is to run two epoch simultaneously with half-crossing in timeframe.
For example:
epochA is [1 January till 1 Mart ] (yes, two months term)
epochB is [1 February till 1 April ]
As we know, our insurance positions are liquid as erc20 rokens.
So, in this case start from 1 February we can sell insuranceA for insuranceB on open market. Which in fact gives us insurance prolongation …
Ofcourse its VERY draft idea… but… just the case…

This is actually very intuitive. Your LP tokens from different pools are tradeable against each other on the open market.

This seems like it might be feasible. But you would need to find sellers for the tokens from Feb to April pool that would be willing to trade for the Jan to March right?

I guess I’m wondering about just more of a variety of lengths.

A possible solution (also very draft) might be creating a vault whose strategy is automatically renewing the protection position using a portion of USDC deposited in the pool. This could create a virtual prolonged contract but still some limits like 1) it is not guaranteed the amount of USDT protected will stay constant when renewing 2) the pool itself still requires rotation 3) extra OPIUMs may be needed as incentives if the renewing is executed by users, then we need some gas compensation 4) if a user wishes to join the pool in the middle, they may need to buy the protection themselves for the period before auto-renewal

spoiler: we are testing now insurance that sellers can go in and out any time, it will be easier to stake/unstake (any time) and second step we do continuous insurance (rate needs to be adjusted)