If the price of USDC drops below USD 0.995 and does not recover above 0.999 within 24 hours, you are eligable for a payout in USDT.
The payout is based on the price of USDC after 24 hours and will cover your loss at that time (
follow this link for the current price). Payouts are capped at USDC 0.80 (20% depeg). If at the time of depeg the wallet contains less USDC than the protected amount, the payout will be limited proportionally. After the depeg event you have 7 days to claim the payout. A claim can be issued by clicking on the
Claim action in the
Policies section of the application.