Stakers affected by the UST De-Peg payout can now view the compensation website at https://compensation.insurace.io/
Once on the website, affected stakers can connect their wallet to view the updated compensation pool, and their specific compensation amounts.
This is in accordance with the Stakers’ Compensation Plan we produced after the UST De-Peg incident that was triggered on the 13th May 2022.
The proposal includes:
- Details on the UST De-Peg Incident
- Proposed Compensation
- Proposed Timeline
- Additional Compensation
- On-chain Execution Details
- Future Risk Mitigation Improvements and Strategies
Luna-UST case compensation plan for Staker’s Pool, stats date by 23 Jun 2022
All funds number in USD value, exchange rate is by 11 Jun 2022
Total Claim Payout Amount: 11,730,232
- from Premium Pool: 369,277
- from Staker’s Pool: 11,360,955
Before Stakers Withdraw (as of 11th June 2022):
Target Compensation Amount: $6,957,484
After Stakers Withdraw (at the time of 23 Jun 2022, around 40% staking capital withdrawn):
Target Compensation Amount: $4,142,005.25089
Additional Compensation Amount (distributed to remaining stakers): $703,869.687278
At the time of writing
Total Compensation Amount: $4,845,874.93817
Deposit Amount in July: 300k
Web Site:
https://compensation.insurace.io/
The Compensation Proposal aims to reduce the losses incurred by stakers down to a maximum 10% loss from this UST De-Peg payout over the course of the next 12 months or less.
A sum will be paid into an on-chain pool from which stakers can withdraw their compensation over the 12 months.
If stakers withdraw their stake or a portion of their stake, their compensation will be reduced proportionally.
The compensation is to allow stakers to earn back some of their losses, whilst helping to maintain liquidity in the InsurAce protocol.
The compensation will be paid using existing premiums, revenues from future premiums, and some vested INSUR.
