Takadao is not an insurance company. Takadao is a technology company that revolutionizes the insurance industry by leveraging blockchain technology and Decentralized Autonomous Organizations (DAOs) to create mutual protection communities as alternatives to traditional insurance companies. Unlike conventional insurers, Takadao-powered tDAOs are community-owned and managed through transparent, immutable smart contracts, eliminating the profit-driven motives of traditional insurance entities.

Members of the tDAOs collectively own and govern the insurance funds. They receive Membership Credits for their contributions, which give them rights to surplus distributions and ensure that the community's interests are prioritized.

All transactions and governance activities are recorded on a public blockchain, allowing for full transparency. Takadao employs a dynamic underwriting model that adjusts benefit payouts based on the fund's performance, ensuring solvency and fairness. Claims are processed through a decentralized, double-blind verification system involving DAO members to ensure fairness, speed, and accuracy without the biases of centralized management.

The Reprotection Pool (rePool) is a staking pool funded by TAKA token holders that ensures price stability for the TAKA token and provides 0% interest loans to Takadao that support the tDAOs. It steps in during catastrophic events to maintain fund stability, and rePool stakers earn yield from Takadao revenues.

Takadao will launch an airdrop campaign in August 2024 that leads up to the launch of The LifeDAO in December 2024. The LifeDAO is the first tDAO run on Takadao technology and is a life insurance alternative targeted at the billions of Muslims who are uninsured globally due to a lack of shariah-compliant insurance alternatives. Interested individuals can join the waitlist for early access by visiting takadao.io.