Cover Protocol V2: New Coverages & Liquidity Mining Program

2 min readJul 15, 2021

New Coverage Pool

We are excited to announce that a new “Blue Pool” has been added to Cover Protocol. You can now provide and buy coverage for the following blue-chip protocols through the CoverRules order books.

CURVE
YEARN
BANCOR
AAVE
COMPOUND
BALANCER
UNISWAP

DAI will be used as the collateral token to mint coverage and as the payout token in the event of an accepted claim.

Coverage Providers

Mint the coverages in the Cover app.
Sell coverage (CLAIM tokens) on CoverRules order books to leverage your returns and control the risks.

You can redeem back with all the CLAIM and NOCLAIM tokens with a 0 redeem/unwrap fee for this pool.

Coverage Buyers

As a coverage buyer, all you need to do is buy coverage (CLAIM tokens) on the CoverRules order books. Note: there needs to be liquidity before you can buy coverage on a certain risk.

How to Use Cover Protocol

Read the documentation carefully to understand how Cover Protocol works

Mining Program

This “Blue Pool” is the first to participate in the Liquidity Mining program.

You will be able to earn rewards by providing liquidity on the order books for the trading of the following pairs on CoverRules.

C_CURVE/DAI — Rewards: 5 COVER per week
C_YEARN/DAI — Rewards: 5 COVER per week
C_BANCOR/DAI — Rewards: 5 COVER per week
C_AAVE/DAI — Rewards: 5 COVER per week
C_COMPOUND/DAI — Rewards: 5 COVER per week
C_BALANCER/DAI — Rewards: 5 COVER per week
C_UNISWAP/DAI — Rewards: 5 COVER per week

Only the ASK side (selling of coverage/CLAIM tokens) will be rewarded.

We are happy that the Mining Program will be starting within the next week and we appreciate the patience of our true supporters. We all have been waiting for this for a long time so let’s start trading some coverage!