FAQs

So I get free insurance from USD8 & sUSD8?

Yes, that’s the benefit of USD8 comparing to other stable coins. You get Insurance Score every block, the more and longer you hold USD8/sUSD8, the more score you get.

The rate of accumulating score differs, currently 1 USD8 gets you 1 score per day, while 1 sUSD8 gets you 0.1 score per day.

Is there a min holding requirement before claim?

Yes. Insurance score needs to be 7 days old when making a claim. You also need to hold the insured token for min 7 days before price drops.

I had USD8 before but not now, am I still insured?

Yes. You should have some insurance score accumulated, it does not expire. You can file claims as long as your score is 7 days old.

How much payout do I get?

Depends on 1.your insurance score vs others’ claiming at the same time 2.cover pool size limit.

The more Insurance Score, the higher your claim weights. Max payout amount is 80%, you might get less than that if you have a low score - however you can always choose to not accept the final payout if it is too low and keep your Insurance Score for future use.

What’s needed when filing a claim?

• the insured token you are claim against
• insurance score
• 10 USD8 bond, refunded after claim
• boosters (optional)

How do you reduce the Cover Pool LP risk?

Cover Pool assets might be deployed to cover claims, which makes it riskier that’s why it comes with a higher APY. To reduce Cover Pool risk, our team

• independently vets every protocol before offering insurance
• review third party audits for each protocol
• adjust/revoke coverage for each protocol based on ongoing monitoring

Claims are not expected to occur often, but there is always a possibility.

What’s different in beta?

Beta has a few safety training wheels which we plan to remove afterwards, during beta admin/Timelock has special rights and privileges.

• Admin or Timelock can dispute an incident payout settlement by submitting a new settlement root. This also adds a 3 day dispute window to the claim process, which will be removed after beta.
• Timelock can upgrade Registry, USD8, Treasury, and DefiInsurance, we plan to remove upgradability after beta.

Does USD8 has a governance token?

Not at the moment.

Show all the risk involved in USD8?

Sure, see Transparency

How does USD8 make money?

USD8 has several revenue models,

• partial USD8 treasury yield
• 20% from payout left over - because claimers only get max 80% coverage, the left over 20% is USD8’s fees.
• partial loss recovered through White Hat Economy

How can I contribute to USD8?

We welcome community contributions across mechanism design, partnerships, marketing, and more. The best place to post proposals, critiques, and ideas is our GitHub Discussions. Contributors can earn Boosters.

Who is behind USD8?

USD8 is built by @codephobic - a Security Researcher with over 7 years experience auditing top Defi protocols and L2s.