Depeg Cover
Stablecoins and yield-bearing tokens are a core part of DeFi, but their peg is not guaranteed. If a covered token loses its peg by more than the defined threshold for a sustained period, Depeg Cover from Nexus Mutual helps close the gap.
Protects against a loss of funds due to:
Stablecoin depegs
ETH liquid staking token depegs
ETH liquid restaking token depeg
Depegs on other like-kind assets
Overview
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Cover Overview
Who is this for?
Depeg Cover is for anyone holding stablecoins, yield-bearing stablecoins, or similar tokens in DeFi who wants protection against the risk of a sustained loss of peg, including USDS, USDT, crvUSD, WBTC and other major tokens. The "stable" in "stablecoin" isn't always so accurate, but you're covered with Nexus Mutual.
Why is it useful?
The TerraUSD collapse showed that even seemingly stable assets can lose their peg catastrophically, and fast. Many DeFi strategies involve at least some stablecoin exposure, and Depeg Cover is the simplest way to protect that position against a sustained devaluation.
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