If UST is zeroed, it is expected to pay $15 million and the claims process has been launched - Aliens: AI Crypto News & Markets Updates
Logo
Logo

Feed

Coins

About

If UST is zeroed, it is expected to pay $15 million and the claims process has been launched

PublisherPublisher
Aliens

Sat, May 14, 2022

InsurAce, a DeFi insurance protocol, said that since the 10-day time-weighted average price (TWAP) of UST has been lower than $0.88, its UST de-anchor insurance claim process has been officially launched, and insurance holders who meet the following corresponding standards are eligible for the application Propose compensation.

In a blog post, the project said, "If UST is zeroed, we expect to pay approximately $22 million. Assuming everyone receives it, and apparently not ruling out (some people have sold their UST, which may make insurance Invalid). After talking to some policyholders, our latest estimates put this lower total at about $15 million. We have a TVL of about $50 million and revenue of over $2 million plus reserve capital. So, we have enough funds, even if UST is $0."

Source: Insurace.io

Share to

The best experience is on the app

Everything happening in the crypto world, in real time

app

Recommended Stories

Article list item background

Luna relaunch kicks crypto hype machine back into gear

The price of Luna jumped about 18% on Wednesday, though it remained at less than a fraction of a cent. . Read more at straitstimes.com.
The Straits Times
·

4h

Defi

Recommended Stories

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens

Advertise