As part of the recent UST De-Peg Claims, Vote and Payout, certain claims were rejected outright, and others were rejected by the Advisory Board pending a separate vote due to ambiguity in the cases. The second of these separate votes will take place in 24 hours’ time.
An official announcement was made on May 13, 2022, informing the affected cover owners to submit their claim request. The deadline for claim submission was set to May 20th, 2022 23:59:59 UTC. (Reference: InsurAce.io Official Blog Post)
Per InsurAce.io’s claim process linked in the cover wording for group claims, cover owners are required to submit claim requests before the deadline set in the official announcement for the group claim.
InsurAce.io team has compiled the claims submitted after May 20th, 2022 23:59:59 UTC with the proposed payout details following the criteria stated in Claim voting proposal for UST De-peg in the public spreadsheet below:
- Voting start time: Tuesday, 28 June 2022 09:00:00 UTC
- Total claimed: $209,481.21
- Deadline for INSUR staking to participate: Tuesday, 28 June 2022 08:45:00 UTC
- Voting period: 48hrs
- Voting page: https://app.insurace.io/Claims/GroupClaims
- Voting rewards: 10,000.00 INSUR
The Advisory Board Report can be found here: CLICK HERE TO ACCESS THE REPORT
Here is our documentation on how our voting system works: https://docs.insurace.io/landing-page/documentation/protocol-design/claim-assessment/claim-assessment-process
The vote will last 48 hours and it will be to accept or reject a group claim proposal.
The UST Exclusion claims will be processed as a Group Claim and will be voted on by our Claim Assessors following our process.
Should you have any objections, you can make an appeal after the voting during the complaint stage.
For details, you can refer to Group Claim Assessment Process
Also, refer to this example of a Group Claim based on the recent Elephant.Money exploit.
Anyone can participate in the vote by staking INSUR tokens into app.insurace.io, no single user can accrue more than 5% of the voting power.
For new users who wish to participate in the claim voting, please follow the guide further down this page.
Voting is open to all INSUR holders who hold and stake INSUR before the vote start date.
How to Get INSUR
If you wish to participate in the claim voting, the first step is to get INSUR tokens.
You can get INSUR tokens from any of the official exchanges listed here: www.insurace.io/market
If you get tokens from a CEX, make sure you withdraw to Ethereum Network, then use our bridge to transfer the tokens to other networks such as BNB Chain, Polygon or Avalanche.
If you buy from Huobi, do not withdraw to HECO network. This network is not currently supported by our app.
You can watch a video guide here: Quick and EASY Guide of How to get $INSUR 💸
Stake to become a Claims Assessor
With the INSUR in your EVM wallet, you are ready to stake to become a Claims Assessor.
INSUR staked as the claim assessor for the vote will not be used for payouts.
Please follow these two guides to become a Claims Assessor:
A video guide can be found here: Become a Claim Assessor to get MORE $INSUR tokens 🤑
Claim Assessor Guide explaining voting weights:
PAYOUT OF THESE CLAIMS WILL NOT IMPACT STAKED FUNDS
How to Vote
Please follow this guide on how to cast your Vote:
A video guide on how to vote can be found here: How to vote 🗳️ STEP 2 – Become a Claim Assessor!
The successful side of the vote will be rewarded with INSUR tokens for their winning Vote.
The Result of the vote will be verified and announced on all Official InsurAce public channels. Twitter, Telegram, and Discord have the latest information and full updates.
Following an accepted vote by the Claims Assessors, the payout details will be released.
Appeals & Complaint Process
In the result of a Rejected vote. There is no appeals process since this vote is on a complaint.
We now have dedicated discord servers for both Claims and Stakers. Join the conversation here: InsurAce Discord
Alternatively, you can send emails to firstname.lastname@example.org for further communications.
Please see our original blog post on Stablecoin De-Peg Cover here:
Review our cover wording for UST De-Peg here:
Become an Assessor: