Let me rephrase the question. Your insurance 375 Million, works out

Question

Let me rephrase the question. Your insurance 375 Million, works out

as only 5% of your aum. Which means in case of a claim on the insurance, if someone had 1000 usd, they'll get 50 USD from the insurance.

Now back to your collateral. If your collateral is USD backed, all good. But if your collateral is volatile assets, what is it? What's the exact % of it(rather than just over 100%)? Because over a 100% doesn't have any use. If market crashes further 50%, the collapse will be substantial.

Finally, the fully backed assets (usdx gbpx etc..., you are saying these are fully backed. Are these backed by actual usd? Or also volatile assets.

A discussion has emerged after luna and nexo among couple of others where referenced as being having the same exact flaws, and we ought to understand and to have some actual hard figures, rather than marketing blurb.

#cryptocurrency #english #nexo

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15.05.2022

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Chaarrlie

Yan | Nexo | No support on DM
No one is evading the query, give me a second to r...

I know you are just telegram admin. I dont expect to tell me clear what it is and what will happen..but you should push it fw telling that ppl keeps asking this more and more

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15.05.2022

Yan | Nexo | No support on DM

Insurance works in the following cases and for assets stored with the custodians: Third-party hacks, copying, or theft of private keys Insider theft or dishonest acts by BitGo employees or executives Loss of keys Assets accepted as collateral can be seen here: https://support.nexo.io/hc/en-us/articles/360008240993-What-coins-are-accepted-as-collateral, each with it's own LTV and a threshold for margin call at 83,3% LTV. That is - if markets plummet and borrowers do not add excess collateral liquidations commence before any losses occur. Nexo requires overcollateralization of 200%-500% for all issued credit lines (not the same for each loan, so I cannot give you an exact number). The model was stress-tested during the 2018 crypto crash and again in March 2020. FiatX have a 1 to 1 ration with fiat assets - you deposit 100$ and you get 100USDX on the platform.

0

15.05.2022

Yan | Nexo | No support on DM · Accepted Answer

Yan | Nexo | No support on DM

No one is evading the query, give me a second to read it all. Shift just started. Have some patience please.

0

15.05.2022

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Let me rephrase the question. Your insurance 375 Million, works out

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