UST de-peg coverage update. Dear community: Due to the UST price continuously falling below $0.
16 May 2022, 17:08
🛡UST de-peg coverage update🛡
1️⃣Dear community: Due to the UST price continuously falling below $0.85 for 5 days, we have submitted and approved the UST de-peg claim.
2️⃣UST reserve pool is frozen, withdrawals and deposits are suspended.
3️⃣Payout amount of USDC and TIDAL will be proposed in 24 hours from now (1 pm EST 5/17/2022), followed by a voting period for 72 hours.
4️⃣Voting process will be similar as last time, users interested in voting can delegate votes to themselves, or to our team (in the governance page at app.tidal.finance). The voting addresses delegated before don’t need to delegate again, new addresses need to delegate before the voting starts in 24 hours.
5️⃣The estimated max payout is 85,000 USDC, failed claims will be returned to USDC providers. Details on covered addresses and evidence required to qualify for the payout will be shared soon in the voting proposal.
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16 May 2022, 17:14
🛡UST de-peg coverage update🛡
1️⃣Dear community: Due to the UST price continuously falling below $0.85 for 5 days, we have submitted and approved the UST de-peg claim.
2️⃣UST reserve pool is frozen, withdrawals and deposits are suspended.
UST de-peg coverage update. Dear community: Due to the UST price continuously falling below $0.
🛡UST de-peg coverage update🛡
1️⃣Dear community: Due to the UST price continuously falling below $0.85 for 5 days, we have submitted and approved the UST de-peg claim.
2️⃣UST reserve pool is frozen, withdrawals and deposits are suspended.