By popular demand, InsurAce.io has launched De-Peg insurance services for the DeFi community.
De-Peg cover provides protection in the event of a Stablecoin moving significantly below its pegged price.
Our Bundled Covers allows users to take advantage of two or more of our insurance products in one neat package.
These new products will be available from as little as 0.6% annual premium costs, with a combined initial capacity of $14 million.
These new insurance products add to our Smart Contract Vulnerability, IDO, and Custodian Insurance services already offered via the InsurAce.io dAPP
Stablecoin De-Peg Cover:
Our Stablecoin De-Peg Insurance will provide financial protection in the event of a stablecoin moving significantly below its pegged price, therefore giving peace of mind to Defi users when making investments using stablecoins.
The very first product we offer under this category will be the UST De-Peg Cover. We will compensate the insured for the value of the quantity of the UST the insured is holding at the ratio of 1UST = 1USD when UST moves off-peg, trading below $0.88 based on a 10-day Time Weighted Average Price (TWAP).
The annual premium will be as low as 0.63% to a maximum of 4.30%, determined algorithmically and depends on supply and demand for this cover. A target fair pricing range for this cover is defined between 2% and 3%.
Detailed T&Cs can be found here: UST De-Peg Policy Wording
Our new Bundled Cover makes 2 or more different covers bundled as one, which offers lower premiums, easier user experience and broader coverage for insurance users. With the same cover amount, the bundled cover will entitle the insured to claim for his loss if one or more of the included covers are triggered. With such an approach, the insured will actually pay less while getting more coverage.
Example: If A deposits 100 UST into Anchor, getting back 100 aUST. Then deposits this 100 aUST into Mirror. To be fully covered, he needs to buy a cover for UST de-peg risk with a cover amount of 100USD, a cover for Anchor with a cover amount of 100 USD and another cover for Mirror with a cover amount of 100 USD. Now with our bundled cover for Anchor + Mirror + UST De-Peg, he only needs to buy one cover with a cover amount of 100 USD, and get insured for both protocols and possible losses due to UST de-peg events.
Below are the Bundled Covers we are offering:
Detailed T&Cs can be found here: Bundled Cover Policy Wording
The bundled covers may include covers under the same risk type, or across multiple risk types, tailored for specific user cases. Institution users with specific demand, please contact us at firstname.lastname@example.org
InsurAce.io Protocol is a DeFi Insurance protocol that has quickly become the second-largest protocol in DeFi insurance. The $INSUR token was released in February 2021, followed by a mainnet launch to the Ethereum Network in April 2021.
InsurAce.io is a decentralized insurance protocol, covering 60+ protocols on 8+ chains, built to empower the risk protection infrastructure for the DeFi community. InsurAce.io offers portfolio-based insurance products with optimized pricing models to substantially lower the cost, up to 60% lower than other protocols, simultaneously reducing gas fees by up to 50%.