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The provider of insurance service for users DeFi InsurAce will pay the owners of stablecoins TerraUSD (UST) compensation in the amount of $ 11 million.
InsurAce’s chief marketing officer Dan Thompson said his company had processed most of the 173 claims filed to cover the damage suffered due to the collapse of the UST.
On May 13, the firm reduced from 15 to 7 days the period for accepting applications for compensation, which caused a negative reaction from the crypto community. As a result, the firm had to back down, and recently Thompson said that the organization is ready to consider 61 applications that were not sent on time.
InsurAce insures against risks associated with:
- Participation in IDO;
- Hacking crypto wallets;
- Hacker attacks on DeFi;
- “Untying” the rate of stablecoins from the dollar.
Options for insuring savings in stablecoins
InsurAce provides services to customers of decentralized services created in 20 blockchains, including ethereum (ETH), Polygon (MATIC) and Solana (SOL) cryptocurrency networks. For insurance, you will have to pay at least 0.0068% of the value of digital assets per day.
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