Follow-up on the Claim: [UST on Anchor Protocol] Drastic Devaluation

[Investigation] From the on-chain data, it is visible that the UST token was deposited to the account 20/05/2022: https://finder.terra.money/columbus-5/address/terra1hgfv0yaw0wt4n7yzudlryfekp55lu5406zg9n5

Based on the requirements set by the community members, the insurance plan coverage is enabled on the 7th day of placing tokens in the wallet of the member. The price of the token is calculated on the coverage enablement date. I.e. 27/05/2022: UST price ~0.03676 The current price of ~0.019 doesn't meet 98% devaluation criteria.

More information can be found here: https://insuretoken.net/whitepaper.html#faq

[Copy of the insurance claim]: Eligibility criteria for Insure Defi:

The project have its own fungible token (ANC) that is listed and tracked on CoinMarketCap and Coingecko:

https://coinmarketcap.com/currencies/anchor-protocol/

https://www.coingecko.com/en/coins/anchor-protocol

SC audit links: https://anchorprotocol.com/docs/Audit Report - Anchor Protocol [20210308].pdf

Token of the project is listed on 2 Centralised Exchanges.

https://coinmarketcap.com/currencies/anchor-protocol/ ANC: KuCoin, Gate.io

https://coinmarketcap.com/currencies/terrausd/ UST: Binance, Coinbase

1.UST https://www.coingecko.com/en/coins/terra-usd

2.wallet: terra1hgfv0yaw0wt4n7yzudlryfekp55lu5406zg9n5 :terra

3.Date of the incident: June 2, 2022

4.email: thomas.ackermann.3ts@gmail.com

5. Drastic Devaluations - Crypto asset (UST) lost more than 98% of the initial invested $ amount.

Initial invested $ amount: $2073 TerraUSD Price (UST) $1

Current invested $ amount: $37 TerraUSD Price (UST) $0.018

https://terrasco.pe/columbus-5/address/terra1hgfv0yaw0wt4n7yzudlryfekp55lu5406zg9n5

Wallet: terra1hgfv0yaw0wt4n7yzudlryfekp55lu5406zg9n5

Transactions:

Deposit hash: https://terrasco.pe/mainnet/tx/9C2A53688B234BC40D1B1FA2C65EE2E11C831ED432D44166A9D136B61C041D10

https://terrasco.pe/mainnet/tx/BDB58BB91A5905AED2C81FE0B5CB612037A4AB4110C2954F73C9D7528984189E

https://terrasco.pe/mainnet/tx/44A5353DDE579D6F6AEA20D4471B84E44918DB286D69DE02526729BEB2FD7994

https://terrasco.pe/mainnet/tx/55BBECE776A3B89F35E26856BFECC0C5C102BE06CC72147E9B900BEA83AAF2A0

https://terrasco.pe/mainnet/tx/5A11CCBB5288F13019BCE29B25EA83D80C5C6342166935247B2C2F5557116809

Deposit amount: 2.073 UST ($2.073) at the time of deposits

inSure Defi Policy enabled in March, 2022 Contributions

https://bscscan.com/tx/0xf1f2acd64aaa7c7693bea01d63e0fc37f7d11b90587686cf5fe4f356cde475e4

https://bscscan.com/tx/0xf1f2acd64aaa7c7693bea01d63e0fc37f7d11b90587686cf5fe4f356cde475e4

Current Insured Value $5160

I ask the community to vote for the reimbursement of $2.073 worth of SURE, as this claim meets all the eligibility criteria for Insure Defi.

Devaluation is when a coin loses its value, as a consequence there is a loss of the initial investment. The criteria on the InsureDefi web is very clear, devaluation of 98% is covered. There is not an exclusion written, it doesn't say if the devaluation is due to a bank run or for coins that are not stablecoins or by whales or any other condition, it says devaluation, and in this case TerraUSD (UST) coin suffered a devaluation for several reasons - it is devalued because it lost 98% of its value, thus, it meets this criteria along with the other required criteria and the insurance have to cover it.

inSure #DeFi Community believes that the #DAO approach of transparency and trust is the right path to democratization of the financial system.