@Sean14 Was your cancellation policy 'strict', 'moderate' or 'flexible'?
From the moment this Covid-19 compensation was announced it was always only 25% OF YOUR CANCELLATION POLICY. So, if you had 'strict' you would expect 25% of 50% = 12.5% of your normal payout, had the guest stayed. If you had 'moderate', you would only receive 25% of the first night + 25% of 50% of subsequent nights IF the cancellation was within 5 days of check in. For reservations cancelled more than 5 days before the stay, normal moderate policy = no refund, therefore hosts get 25% of nothing = nothing.
I can still see cancelled reservations on my dashboard, under the 'cancelled' tab.
Dashboard > Reservations > Cancelled