Cover Protocol Claim Briefing 2: Yearn Finance

Claim filed for: Yearn Finance
Date of claim filed: February 4th, 2021
Collateral staked at time of accepted claim: 409,722 DAI
Status: Validated by the community and CVC
Payout Percentage: 36% (Partial payout)
• 1 CLAIM token is redeemable for 0.36 DAI
• 1 NOCLAIM token is redeemable for 0.64 DAI
Payout turnaround time: 7 days (including the 2 day redemption delay)

We would like to give a huge thanks to our community for their fast response in voting and their feedback. Cover Protocol can not succeed without the support of our awesome community. Our CVC did an amazing job with communicating with us throughout the whole process. They were super responsive and gave great in-depth analysis 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.

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