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Cover Protocol
COVER Cover Protocol thumbnail icon

$15.460 USD

0.00065983 BTC

0.00929331 ETH

Market CapTotal Value LockedDominanceMcap TVL Ratio
$1220090 USD$815339 USD0.00 %0.660

About Token Cover Protocol thumbnail icon

Cover Protocol is a peer-to-peer insurance market, where the way it operates is more similar to prediction market. Unlike other insurance protocols, the governance token is not used for underwriting risk.  To bootstrap coverage for a new protocol, market makers will need to be incentivized to stake collateral of DAI/yDAI to mint CLAIM and NOCLAIM tokens. All series covers a specified protocol and have a specified expiry date. During the expiry date, either CLAIM or NOCLAIM will have the full claim to the collaterals.  For example, if 100 DAI is used to provide coverage for Compound protocol until an expiry date, it will yield 100 CLAIM and 100 NOCLAIM tokens. On the expiry date, if there is a valid claim event, every CLAIM token will receive 1 DAI while NOCLAIM token will expire worthless. The converse is true if there is no valid claim event. In this case, every NOCLAIM token will receive 1 DAI while CLAIM token will expire worthless.

Coin Statistics

Price Change % 24H1.454%
24H High$15.980
24H Low$14.730
Market Rank1903
Market Cap$1220090
Market Change 24H27560.000%
Market Change 24H %2.311%
Circulating Supply79179 cover
Total Supply82000 cover
Total Value Locked$815339 USD
Dominance$0.00 USD
Mcap TVL Ratio0.660
All Time High$1687.110
All Time High Change %$-99.087%
All Time High Date2021-02-17T00:11:40.000Z

Coin Scores

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