InsurAce.io is delighted to announce the launch of MIM Stablecoin De-Peg Insurance service.
Following the successful launch of our Stablecoin De-Peg insurance, InsurAce.io is delighted to add MIM De-Peg insurance to our list of 80+ protocols covered.
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.
MIM De-Peg Cover
The MIM De-Peg Cover will compensate the insured for the value of the quantity of the MIM the insured is holding at the ratio of 1MIM = 1USD when MIM moves off-peg, trading below $0.93 based on a 10-day Time Weighted Average Price (TWAP).
The annual premium will be as low as 0.75% to a maximum of 5.00%, determined algorithmically and depends on supply and demand for this cover. The fair unit cost (when 50% is sold) is 1.88%, the target unit cost range is from 1% to 2.75%
Detailed T&Cs can be found here: MIM De-Peg Policy Wording
About InsurAce.io
InsurAce.io is a decentralized multi-chain insurance protocol, 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; launches insurance investment functions with flexible underwriting mining programs to create sustainable returns for the participants; and provides coverage for cross-chain DeFi projects to benefit the whole ecosystem.
At the time of writing, InsurAce.io has provided coverage to 80+ protocols, safeguarding over $110M DeFi assets on 10+ public chains.
InsurAce.io is backed by DeFiance Capital, Parafi Capital, Alameda Research, Hashkey group, Huobi DeFiLabs, Hashed, IOSG, Signum Capital, LongHash Ventures and a dozen of other top funds.
Join InsurAce.io community:
Website | Twitter | Telegram | LinkedIn | Announcements | Medium
