Today, we are excited to announce the launch of Cover V2 on Ropsten Testnet. Mainnet launch will be in ~1 week.

How does it work?

CLAIM tokens are coverages, meaning you can redeem them for collateral when an accepted exploit happens on an underlying risk

  • These risks are fully customizable, for example, allowing coverages for a single asset in a pool (USDT), or covering the entire pool (GUSD3crv pool).

NOCLAIM tokens represent the right to redeem collateral after the expiration date.

  • If no risks are exploited, NOCLAIM is fully redeemable

As a Coverage Provider, you make a return by selling CLAIM tokens.

  • Mint both CLAIM and NOCLAIM tokens

As a Coverage Seeker, your goal is to get covered on the risks you are exposed to somewhere else.

  • Go to the Cover Pool and find the risks you are exposed

To access testnet Cover V2, go to

User Guide

Cover Beta will be deprecated. Remaining funds can be redeemed following this guide.