Informations
Official links
Categories
(As per information listed on the website and/or provided by the Company)
What is it ?
OpenCover works with leading underwriters to insure/cover individuals and institutions against protocol risks. The product is tailored for actively managed onchain treasury with policies as short as 30 days and up to a year.
What problem does it solve?
Safety remains one of the fundamental bottlenecks to Web3 adoption — over $1.5 billion was lost to protocol risks in 2023 alone.
Feature Highlights
- Protect your onchain positions on Aave, Uniswap, Curve, Pendle, Etherfi, GMX and 50+ other protocols against smart contract hacks, oracle manipulation, liquidation failures and governance attacks.
- Policy duration from 30 days up to 1 year
- Rates from 2-10% per annum equivalent depending on volume, duration and protocol.
- 10% Discount for The Accountant Quits
How it works
- Cover for a specific protocol and duration can be purchased from OpenCover in Stables, ETH or fiat (see https://opencover.com/app/?invite=TAQ24 for growing list of supported protocols)
- Once cover is active, if any of the covered risks materialize and you suffer an onchain loss, you can submit a claim to OpenCover.
- Claims are typically assessed and paid out within 10 days.
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