Legal and FAQ
Testnet prototype
CapFare runs on NEAR testnet (or a local sandbox for demos) with test USDC that has no value. No real money is accepted or paid out, fiat top-ups and IBAN payouts are simulated, and NEAR Intents is only used for dry-run quotes.
CapFare is price protection, not insurance. A commercial launch would require partnering with a licensed insurer or another appropriately licensed financial partner, and a licensed payment provider for euro top-ups and payouts.
Prices in demo deployments come from a scripted price source and are labelled as such. Booking emails in demos are synthetic test confirmations.
What is covered
- One exact flight number, departure date, fare class and airport pair.
- Price Cap: bookings made between activation and expiry; payout uses the airline's price at booking time and what you paid, whichever is lower.
- Drop Guarantee: drops of the airline's price for the same flight during the window after your purchase.
What is not covered
- Seat availability. If the fare class sells out, a cap cannot be used; with sold-out refunds switched on, the premium is refunded.
- Other flights, dates or fare classes, taxes added after booking, baggage and seat fees.
- Bookings you cancel. Refundable tickets are checked one day before departure.
Deductibles and activation delays
Each payout is reduced by a deductible, and a Price Cap only counts bookings made after its activation delay. These rules keep premiums low by making it pointless to buy protection seconds before booking at a price you already know.
Personal data
Booking emails and references are encrypted on your device for the booking checker. Only flight, date, fare class, price, refundability, booking time and an anonymous booking fingerprint (nullifier) leave it. We use no tracking cookies and no third-party analytics.
Questions
- What happens if I don't book?
- Nothing more happens. The cap expires at the end of the period you chose and the premium is not refunded, unless your fare class sold out while the cap was active. Still deciding? Renew it before it ends and the new cover starts the moment the old one stops.
- What if the flight sells out?
- We don't cover availability. If the oracle sees your fare class sold out while your cap is active and unused, the premium goes back to your credit.
- What if I cancel my booking?
- Then there is no payout. For refundable tickets we check one day before departure that the booking still exists before paying.
- Which airlines work?
- Coverage works for any booking whose confirmation we can verify. In this prototype that is KLM-format confirmations (tested with synthetic examples). More airlines follow.
- Why is there a deductible and an activation delay?
- They keep premiums low. Without them, people who already know a price is about to jump would buy protection seconds before booking, and everyone else would pay for that.
- How do I get paid?
- To your CapFare balance in USDC by default. From there you can withdraw to a bank account (IBAN) through a licensed payment partner, or receive another digital asset. On testnet these are simulated.
- How do you check my booking?
- Two ways. Upload the original confirmation email: its digital signature shows it came from the airline or travel site and wasn't changed. Or open your booking page with the CapFare extension and press Verify with CapFare: our checker loads that page straight from the booking site and sees the booking as it is now, including a cancellation. Either way only the flight, fare, price and a scrambled fingerprint of the lead passenger's name come back, so only your own booking can be used.
- Is this insurance?
- No. It is a testnet prototype of price protection. A commercial launch would require a licensed insurer or another appropriately licensed partner.
- Do I need crypto?
- No. You sign in with a passkey, pay with prepaid credit and never pay network fees. On testnet everything uses test money.