Cover Protocol Claim Briefing 1 : Pickle Finance

Claim filed on: Pickle Finance
Date of claim: 11/21/20
Status: Validated by Community and the CVC
Payout Percentage: 100%
Claim payment: $282,035
Fees to be earned: $282 (from redemption)
TVL in Pickle CLAIM token at time of accepted claim: $282,035
Payout turnaround time: 5 days (including the 2 day redemption delay)
*Compared to the industry average payout turnaround of 12.3 days.

We would like to give a huge thanks to our community for their fast response in voting and their input. Cover Protocol belongs to the community. This protocol can not succeed without the community. Our CVC did an amazing job with communicating with us throughout the whole process from building to launch to their first claim evaluation. They were super responsive and gave great in depth insight on the claim. We see this as a giant step towards a new way of governing claims and mitigating risk. Please view our CVC’s responses to the claim on our Discourse which include detailed reports.

Coverage Sector Statistics : The below charts show the stats of Cover Protocol and the rest of the coverage sector on total claims filed, total claims paid, and total payout amount. We believe over time the coverage sector will continue to grow rapidly.

-The Cover Team