Bi-Weekly Recap — May. 16th to May. 27th
In the past few weeks, we have been closely monitoring the UST de-peg event and supporting the policyholders for the claim process. Most of the payouts have been completed and TIDAL compensation will be distributed after the claim deadline (June 3rd). As usual, biweekly report comes again with our progress shown in two categories:
- Marketing and business growth.
- Product development.
Marketing and business growth
In the past two weeks, we have processed the payouts for UST depeg loss. The proposal was successfully passed and the deadline for claims is this Friday, June 3rd.
Reserve is currently earning around 58% APR with 23% APR USDC earning and 35% APR TIDAL earning. The current activated plans include a total coverage of 2.3 million.
- USDC reserve pool resumed withdrawal / deposit after passing the UST payout proposal.
- Temporarily paused UST’s user purchase portal.
- Few payouts have been processed for policyholders.