Risk Harbor announced integration with Alchemix

Risk Harbor announced last Monday, November 22, through its Twitter account, its integration with Alchemix, so that users can now buy peg protection for their Alchemix alUSD tokens in Risk Harbor.

Image on Risk Harbor’s Twitter post

“With the Alchemix integration, users can now purchase peg protection for their Alchemix alUSD tokens at Risk Harbor. In addition, the group will initially have 2,000 tickets distributed during a month and if the group is successful, more tickets will be added”, he said through an article published on the Medium platform.

About Alchemix-alUSD

According to the company, alUSD is a DAI-backed US dollar stablecoin that Alchemix deposits in a coveted vault. This group protects users from loss of dependency on alUSD / USD using a time weighted average price derived from Chainlink’s price feed and protects users from both Alchemix vault attacks as well as Alchemix vault attacks. Underlying yearn.

Insurer risks:

In their judgment, underwriters will bear the losses from any hack, attack, loss of community sentiment, or any other event of loss that causes the market price of alUSD / USD on Chainlink to drop below $0.90 or cause it to yvDAI reservations fall below the default 90%. on Alchemix contracts or causes the annual DAI vault to empty below the 90% default rate. This includes the risk of smart contracts, hacks, carpet pulls, poorly specified contracts, flash loan attacks, and other loss events.

In addition, he highlighted that if a disappearance event, an Alchemix smart contract hack, or a longing smart contract hack occurs, the policyholder will receive payment in USDC. So, unless the USDC loses its parity, policyholders will be protected.

Also read: Unstoppable Domains: “El Salvador plans to create Bitcoin City”

When does this protection group expire?

This group expires on December 21, 2021, at 12:00 a.m. UTC.

Who can subscribe?

Currently, all users can subscribe to protection.

Who can buy protection?

Currently, all users can purchase protection.

1 comment

Comments are closed.

Related Posts