Cover Protocol
1. Summary
- Price
-
$0.47 0.0%
- Market Cap
- $44,128.00 (#5185)
- Supply
- /
- Description
-
Introduction
Introduction
Cover Protocol is a peer-to-peer insurance market that operates similarly to a prediction market. It is designed to provide decentralized finance (DeFi) protocol-specific coverage against financial losses resulting from pre-specified events such as smart contract code failures, blockchain attacks, economic design failures, and governance attacks within a singular protocol.
Operation
To bootstrap coverage for a new protocol, market makers are incentivized to stake collateral, such as DAI or yDAI, to mint CLAIM and NOCLAIM tokens. The SERIES covers a specified protocol and has a specified expiry date. During the expiry date, either CLAIM or NOCLAIM tokens will have the full claim to the collateral. For example, if 100 DAI is used to provide coverage for the Compound protocol until an expiry date, it will yield 100 CLAIM and 100 NOCLAIM tokens. On the expiry date, CLAIM tokens will be redeemed for the collateral if a valid claim event occurs, and NOCLAIM tokens will expire worthless if such an event does not occur.
Key Features
- Cover Protocol provides DeFi protocol-specific protection against financial losses.
- It does not use the governance token for underwriting risk.
- The protocol is designed to protect users against technological risks inherent to DeFi protocols.
- Coverage scope varies, with different claim assessment mechanisms.
- It is distinct from traditional insurance policies in terms of its customizable nature and narrow focus on DeFi protocols.
| Price | |
| 52W High price | $23.07 |
| 52W High date | 22nd Dec 2023 (7 months ago) |
| All Time High (ATH) Date | 14th Jun 2024 (1 month ago) |
| All Time Low (ATL) Date | 14th Jun 2024 (1 month ago) |
| Supply & Trading Volume | |
| Trading Volume (24h) | $9.00 |
How does Cover Protocol's () performance compare to the median performance for assets of a similar market capitalization?
30 Day Return
%
-15.4%
Similar Market Cap
We're monitoring 9 Cover Protocol GitHub repos for commits, code additions and deletions. This data is factored into the Developer Rank. Because of delays in GitHub's stat processing, recent activity maybe underrepresented.
Weekly Commits (All Cover Protocol Repos)
Commits vs. The Market
- Past 4 weeks: 0 commits vs. an average of 1
- Past 12 weeks: 0 commits vs. an average of 8
- Past year: 0 commits vs. an average of 117
Most Active Repos
| Past week | 9 |
|---|---|
| Past 12 weeks | 20 |
| Past year | 235 |
| Past week | 0 |
|---|---|
| Past 12 weeks | 0 |
| Past year | 156 |
| Past week | 0 |
|---|---|
| Past 12 weeks | 0 |
| Past year | 71 |
| Past week | 0 |
|---|---|
| Past 12 weeks | 0 |
| Past year | 47 |
| Past week | 0 |
|---|---|
| Past 12 weeks | 0 |
| Past year | 24 |
| Past week | 0 |
|---|---|
| Past 12 weeks | 0 |
| Past year | 22 |
Top Developers 2024
In total, 8 developers have contributed to Cover Protocol over the past year. Who are the most active Cover Protocol developers, by commits, over the past year?
Related Projects
Developers working on Cover Protocol also worked on these projects.
Tip: Toggle each network by clicking the name above
Historic data is only available from 22nd April 2022
Total Followers
| Reddit Subscribers | 0 |
|---|---|
| Active Reddit Users (past 24h) | 0 |
| Discord users | |
| Active Discord Users | |
| Telegram Users | 1,655 |
| Twitter followers | 19,539 |
No recent news found.
Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:
| Website | https://www.coverprotocol.com/ |
|---|---|
| Explorer | https://etherscan.io/token/0x4688a8b1f292fdab17e9a... |
| @COVERProtocol |
What is the correct contract address for Cover Protocol?
| Fantom | 0xb01e8419d842beebf1b70a7b5f7142abbaf7159d |
|---|---|
| Ethereum | 0x4688a8b1f292fdab17e9a90c8bc379dc1dbd8713 |
Has Cover Protocol been audited for security?
No security audits found for this project.
Are you the owner of Cover Protocol? Edit it here
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