Brazilian Brokerage Will Reimburse Investors Harmed by TerraUSD (UST) Collapse

In recent days, the market has suffered the biggest collapse of a cryptocurrency since the beginning of its history. The Earth Ecosystem Stable Currency (LUNA), paired with dollars, suffered a severe drop on the network, losing virtually all of its value.

About $120 billion was lost by those who invested in related projects. But this loss will not be a problem, at least for some of the investors with portfolios in nox Bitcoin. The company announced that it will refund approximately R$620,000, in total, to its customers who maintained the investment between May 9 and May 12, 2022.

TUST was the Earth Ecosystem Stable Currency (LUNA) associated with the dollar, being an algorithmic stable currency, whose value in 1 dollar (USD) should be guaranteed by the protocol. However, the Stablecoin Terra USD (UST) algorithmic model did not prove to be sustainable and with that, Luna and UST collapsed.

However, clients who invest for nox They had an in-app Auto Stake option on Stablecoin UST, which offered a return of 15% per year, paying out daily income. Now that stablecoin apparently has no hope of surviving and the Terra network is repeating a hard fork, the nox Bitcoin will cover the loss of investors who held their investment in UST and remove the UST Auto Stake option from the app.

“Although the collapse of the UST and the Terra network was a risk outside the noxin solidarity with our customers, we will exceptionally cover the loss from currency devaluation,” says João Paulo Oliveira, CEO and co-founder of nox Bitcoin.

That is, if the client had 1 UST before the collapse and today UST is worth 0.10 USD, the nox will deposit 0.90 USDT as compensation.

Thus, investors will receive the proportional amount invested in Stablecoin, in Tether USDT, which can be easily redeemed within the app and exchanged for any of the available options, cryptocurrency-exclusive investment baskets that offer passive income with daily returns.

The app yes nox was launched in December 2021, and since then it has been facilitating crypto investments, using technology as a tool to democratize access to this market which offers incredible opportunities.

The great strength of the application nox is Staking Facilitated, an option so effective that it positions the platform as a leader in passive income with cryptocurrencies, already recognized by the big names in the crypto market! Through the app, any investor with R$2 can invest in cryptocurrencies, expertly balanced investment baskets, even protocols that offer passive income.

All investments can be made with the ease of a PIX and two taps on the cell phone screen. No complications, no superfluous information and very practical.

As for security and commitment to its investors, nox Bitcoin demonstrates daily that it keeps its word and offers one of the most convenient and secure platforms for investing in cryptocurrencies on the market. The app of nox It’s free and can be downloaded for Android and iOS directly from the App Store.

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