[inSure DeFi] - [Insurance Claim] - [UST on Beefy] Drastic Devaluation

Eligibility criteria for Insure Defi

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

https://coinmarketcap.com/currencies/beefy-finance/

https://www.coingecko.com/es/monedas/beefy-finance

SC audit links: https://github.com/beefyfinance/beefy-audits

Token of the project is be listed on 2 Centralised Exchanges.

https://coinmarketcap.com/currencies/beefy-finance/ BIFI: Binance, PancakeSwap

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

1.UST https://www.coingecko.com/en/coins/terra-usd 2.wallet: 0x910D6B8b59cd6D2c2C10A4BB5135a59f64901545: MetaMask Avalanche 3.Date of the incident: June 2, 2022. TerraUSD Price Coin had a reduction of 98% of it's value and dropped to $0.018.

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

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

Initial invested $ amount: $235.99, Price (UST) $1

Current invested $ amount: $4.25, Price (UST) $0.018

Transactions:

Deposit hash:

https://snowtrace.io/tx/0x8b4aedc7351a4a169813227e2344fe6e3491f122fd4642445ce8de4d52485877

https://snowtrace.io/tx/0xb97d7e9c229cf117c55bf0e5361343e2b352988c493877f66e1b0ab524debda3

Deposit amount: 235.99 UST ($235.99) at the time of deposits

Policy enable 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 $235.99 worth of SURE, as this claim meets all the eligibility criteria for Insure Defi.

Devaluation is by definition a reduction of a value (https://www.dictionary.com/browse/devaluation), 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 drastic devaluation for several reasons, it's devalued because it has a reduction of 98% of it's 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.