how is a system/coin like this affected by the chain above it? You say that this is ETH based, so I am going to make up numbers to illustrate. Lets say that ETH is 0.01/BTC and your asset is worth 100 ETH each. That would mean that an overall value could be placed indirectly at your asset being worth 1 BTC each, 0.01 times 100. Now, as the price of ETH rises and falls, how does that affect your asset?
The Inchain token and and insurance contract are ETH based but their assets does not have to be. You would not be able to run a trade bot using only ETH, so they will have other assets as well.