Launch of Cover Protocol

Supported Protocol Coverage

Fee(s) Information

  • There is no fee to mint coverage tokens.
  • There will be a default 0.1% (changeable by governance) fee charge on all redeems.
  • The Balancer pool for CLAIM and NOCLAIM tokens will have a 1–2% fee (depending on the risk) on swaps.

Claims Process and Payout

  • There will be a default 3 day grace period after expiry to make a claim on an incident that occured before the expiry of a specific coverage.
  • When no claim is accepted there will be a default 10 day delay for redemption of NOCLAIM tokens.
  • When a claim is accepted there will be a default 2 day delay for CLAIM tokens (and NOCLAIM tokens if partial payout).

The COVER Token and Migrations

Shield Mining

  • 80% of the 654 $COVER will be allocated to the above supported protocols.
    60% of the 654 $COVER will go to $CLAIM liquidity providers.
    20% of the 654 $COVER will go to $NOCLAIM liquidity providers.
  • 20% of the 654 $COVER tokens will be allocated to Pool 2 liquidity providers. More details will be released at $COVER launch November 20th.
  • Some pools may also be incentivized by the covered protocols, through offering their own native protocol tokens as bonus rewards.

Governance and Decentralization Plan

Contract Addresses

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https://www.coverprotocol.com/

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Cover Protocol

Cover Protocol

https://www.coverprotocol.com/

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