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Horace-Butteryak

Correct me if i'm wrong, but I note that inurace

sells ousd contract insurance...it does not cover de-peg. my understanding with ousd, is there is no contract I am staking to or depositing to, i'm holding it in my wallet. so isn't the insurace contract insurance kinda pointless?

#cryptocurrency #english #origin
0

4 ответов

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Farid | Origin Protocol-

Our coverage is against smart contract hacks and bugs at protocol level. Underlying faults, including oracle failures are not covered at the moment... Something we are working on too. In the future we will be adding a de-peg insurance coverage to this product. We have a few million dollars worth of coverage available on each chain for OUSD at this time. We expect it to be a popular product so we will look to increase capacity once it sells out. Full cover wording can be found here for anyone who wants to dig deeper: ​​https://files.insurace.io/public/en/cover/SmartContractCover_v2.0.pdf Specific coverage of each insurance project, please check their policy.

0
09.01.2022
Horace-Butteryak Автор вопроса
Farid | Origin Protocol
Our coverage is against smart contract hacks and b...

ok, got that. but wouldn't the side affect of hacks or bugs cause ousd to loose peg. seeing as there is nothing for me to deposit into a contract, a hack or bug would not cause me to loose any OUSD. only the value of my OUSD. still don't see the point of their insurance.

0
09.01.2022
JordanCoin-K
Horace Butteryak
ok, got that. but wouldn't the side affect of hac...

Right I’m understanding same too, there’s really no point, it’s not like they can take the coin out of ur personal wallet…

0
09.01.2022
Obito Uchiha-

There are stable coin de-peg coverages. I was recently looking for an insurance and found out it. If you want to buy insurance, you should definitely check Bright Union. They offer the cheapest price out there!

0
17.01.2022

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