Cover V2 Product Paper Release


Cover Protocol’s long term vision has and always will be to allow anyone to buy coverage on anything. Cover Protocol V2 (Cover V2) takes us one step further towards that vision.

Cover V2 improves upon multiple aspects of V1 in the following ways:

  • Addresses concerns raised from V1, including capital efficiency and granular coverage.

The fundamental model of Cover remains unchanged. It still offers coverage with fungible tokens while letting the market set coverage prices.

With Cover V2 as the foundation, two product lines will be enabled.

  • Peer-to-peer coverage market. Same as V1, anyone can become a market maker, provide coverage, and purchase coverage for listed risks on Cover Protocol.

Read more about the detailed product paper here.

The Development and Timeline

Based on our previous experience with the contract audits, we will release V2 in multiple batches. The progress of contracts are the main indicator of release dates.

Cover Core V2 Release

Cover Core V2 is currently in auditing. The last date of expected initial audit reports is March 15th. The contracts can be expected to be deployed on Mainnet in April.

  • V2 UI developments start this week. The goal is to complete the UI development with the contracts.

Cover Money Market Release

The money market contracts are in development; expected to be completed in March and sent to auditors. We have a reserved slot with Trail of Bits that starts May 12th in the case an earlier audit can not be booked. The release date will completely depend on the progress of the audits.

Other Cover Protocol Release Dates

We don’t have a concrete date for any releases (including xCOVER whose dev work is complete and currently being audited). Please follow our accounts and updates closely. We will update the moment we have the dates ourselves.