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Sluice dam -- adjustable gates.
DepegCover
Pays out when a stablecoin loses its peg and holds off it.
Pool TVL
$2.24M
Active
366
Triggered
3
Base APR
3.2%
How this cover triggers
1
Dual oracle (Pyth + Switchboard) median guards against a single-feed glitch firing a false payout.
2
The peg band and sustain window are set per pool; a brief wick will not trigger.
3
Payout scales with how far and how long the asset stayed off peg.
Trigger
Price below 0.95 or above 1.05 sustained for N slots.
Oracle
Pyth + Switchboard dual feed
Payout
Scaled to depeg depth and duration.
Parameters
- Peg band
- 0.95 – 1.05
- Sustain window
- N slots (default 40)
- Oracle
- dual-feed median
- Reference
- InsurAce multi-chain pool
Backtest
USDC depeg (2023)
USDC fell to ~0.88 after the SVB weekend. A sustained sub-0.95 print would have paid out scaled to depeg depth.
DepegCover auto-paid (simulation)