Cover Protocol V2 Mainnet & BSC Dual Launch

Cover Pools

  • 1 Ruler CDS pools for selected Ruler Pairs
  • 1 BoringDAO pool for its products
  • 1 YearnV2 pool for some of its larger vaults
  • 1 stablecoin pool for popular stablecoins

Rewards for Cover V2

How to Make a Return As a Provider

  • Mint covTokens with Dai
  • Selling cTokens on the order books.
  • You only pay gas to mint the coverage and redeem your initial DAI back at expiration. The buyer of coverage pays the gas fee on the sale.

YearnV2 Example:

  1. Mint 100k Dai worth of covTokens that expires by the end of July. In return, you would receive 100K of each cToken, one ncToken and one FUTURE cToken
  2. Keep the ncToken and FUTURE cToken (Read here to understand what those tokens are).
  3. Sell the 7 different cTokens you minted (you have 100k of each).
    a. Sell each cToken for 3 cents
    b. You will get an upfront premium of $21,000.
    c. If Yearn is not exploited before expiry…that is an 84% annual return.

Appendix — Cover Pools Details

RulerCDS1

  • WBTC lending
  • WETH lending
  • WETHDegen lending
  • xRULER lending
  • xRULERDegen lending
  • xCOVER lending

BoringDAO

YearnV2

  • WETH Vault
  • ETH Vault
  • YFI Vault
  • WBTC Vault
  • DAI Vault
  • USDC Vault
  • USDT Vault

Stables

  • USDC peg
  • USDT peg
  • DAI peg peg
  • USDN peg
  • USDP peg
  • UST peg
  • BUSD peg
  • GUSD peg

BSC Pool

  • Pancake
  • Bunny
  • Autofarm
  • Ellipsis
  • Venus

Find a Bug?

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https://www.coverprotocol.com/

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Cover Protocol

Cover Protocol

https://www.coverprotocol.com/

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