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inSure DeFiinSure DeFiby0x9FB1995dC5A08D16704b542BB5039C04158c56f50x9FB1…56f5

Follow-up - [UNION Protocol Governance Token ] Drastic Devaluation

Voting ended over 2 years agoFailed

The member 0xCfebB1492B7C9cC0321BD3f2BD520291199F48Ed enabled the insurance policy on 03/05/2022. (This can be verified on-chain and here: https://insuretoken.net/check-coverage.html?address=0xCfebB1492B7C9cC0321BD3f2BD520291199F48Ed) The token value is taken on the 7th day of the contribution, i.e. when the policy becomes active.

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The price of UNN on 03/12/2022 was ~$0.0019, and the current price is $0.0002, less than 90% devaluation. The insurance policy covers only >98% devaluation. In addition to that other criteria are also not met:

  • UNN is listed only on one CEX (2 CEX requirement is not met) - Criteria not met
  • UNN token doesn't have a listed audit on CMC. - Criteria not met

All the criteria can be verified on the website: https://insuretoken.net/plan.html

Hence, this insurance claim for the UNN token drastic devaluation is not eligible.

[Copy of the ticket]: The project UNION Protocol has its own fungible token (UNN) that is listed and tracked on CoinMarketCap and Coingecko:

https://coinmarketcap.com/currencies/union-protocol-governance-token/

https://www.coingecko.com/es/monedas/union-protocol-governance-token

Token of the project is listed on multiple Exchanges

token address: 0x226f7b842E0F0120b7E194D05432b3fd14773a9D

Insured wallet Wallet:0xCfebB1492B7C9cC0321BD3f2BD520291199F48Ed

Drastic Devaluations - Crypto asset that lose more than 98% of the initial invested $ amount.

Initial invested $ amount: $119.96 or 0.06626246562634595eth at the time

Current invested $ amount: $0.56

Transaction:https://etherscan.io/tx/0x892b0ea73acc081c5d7f0a01eb4fe3a9be170a58277f7343d9769b7a7c902eb0

Screenshot 2023-08-30 121927.jpg

I ask the community to vote for the reimbursement of $119 worth of SURE, as this claim meets all the eligibility criteria for Insure Defi.

Off-Chain Vote

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Discussion

inSure DeFiFollow-up - [UNION Protocol Governance Token ] Drastic Devaluation

Timeline

Sep 05, 2023Proposal created
Sep 05, 2023Proposal vote started
Sep 30, 2023Proposal vote ended
Oct 26, 2023Proposal updated