Following our successful launch of our UST De-Peg, stablecoin and Bundled cover launch last month, we are delighted to announce the launch of our USDT Stablecoin De-Peg Insurance service.
Following a successful launch of our Stablecoin De-Peg insurance, InsurAce.io is delighted to add USDT De-Peg insurance to its list of 80+ protocols covered. De-Peg cover provides protection in the event of a Stablecoin moving significantly below its pegged price.
The annual premium for USDT De-Peg cover will be as low as 0.63% to a maximum of 3.50%, determined algorithmically and depends on supply and demand for this cover. Early birds will enjoy the lower premium. The average premium price is predicted to be 1.5%.
We have already seen huge uptake of this new product and have already sold 3M worth of this cover on Ethereum in one transaction!
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 was our UST De-Peg Cover. We compensate the insured for the value of the quantity of the UST, and now USDT, the insured is holding at the ratio of 1USDT = 1USD when USDT moves off-peg, trading below $0.92 based on a 10-day Time Weighted Average Price (TWAP).
The annual premium will be as low as 0.63% to a maximum of 3.50%, determined algorithmically and depends on supply and demand for this cover.
Detailed T&Cs can be found here: USDT De-Peg Policy Wording