🔔 Weekly industry update
🛡️ OpenCover
🔹 Convex is officially available on OpenCover.
🔹 We opened up early access to the Base DeFi Pass with Nexus Mutual: <opencover.com/cover/what-is-the-base-defi-pass/>
🚨 Hacks
🔹 BingX was hacked for over $26m.
🛡️ NEW COVER LISTED 🛡️
@convexfinance is officially available on OpenCover!
We just unlocked over $6m in Convex cover capacity from Nexus Mutual on #Ethereum, #Arbitrum and #Polygon.
Cover your assets on Convex and save over $50 in gas fees 🚀
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This week, we're launching a first-rate DeFi exchange and automated market maker on OpenCover. Any guesses?
📣 Partnership announcement (and historic milestone for onchain finance!)
We're joining forces with @request_finance and @nexusmutual to raise the bar on end-user protection onchain.
🛡️ "Your keys, your coins" also means your risk.
Until now, onchain risk, while relatively low, has always been borne by end-users. For example, if a blockchain state produces an unexpected outcome for a given transaction the end-user is forced to absorb any losses (e.g. oracle price feed error, protocol bug).
Today and for the first time, third-party transaction risk is being transferred away from blockchain end-users with Request effectively guaranteeing the outcome of transactions created on their platform using OpenCover Transaction Cover.
Eligible Request transactions on #Ethereum #Arbitrum #Polygon #Optimism #BNB and #Avalanche are now covered up to $100,000 against technical, economic and security onchain risks — this protects the full value of over 95% of supported Request transactions.
Abstracting away transaction risk from end users is the norm in TradFi, which means that Request users now benefit from equivalent guarantees when transacting onchain while benefitting from faster settlement times, full transparency and lower fees compared to transacting on legacy rails.
Experience the future of onchain payments yourself — true peace of mind comes from hard guarantees 👇
Exciting news! 🎉
We're teaming up with Nexus Mutual to bring you unprecedented protection against protocol hacks and failures on @base. Together, we're launching The Base Pass, protecting you on Based protocols, in just one single cover.
Our Base Pass closed beta is now live! Be part of an exclusive group, test the product, and get a slice of $250k in free cover on Base in exchange for your insights!
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🔔 Weekly industry update
🛡️ OpenCover
🔹 We launched an embedded cover API on Arcadia.
🔹 Contango is officially live on OpenCover.
🚨 Hacks
🔹 Pendle-based yield optimizer Penpie was hacked for $27m.
🔒 Industry
🔹 Nexus Mutual DAO members approved Karpatkey’s proposal to manage DAO Treasury assets.
🛡️ NEW COVER LISTED 🛡️
Contango is officially available on OpenCover 🚀
Keep your assets safe on Contango with Nexus Mutual and streamline cover management.
Learn more and find onchain peace of mind
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📯 Hot off the press!
August OpenCover Alpha newsletter is here.
🔵 OpenCover Base Pass closed beta sign-up!
🔵 Arcadia Finance Integration
🔵 Breaking news in the onchain cover space
Subscribe💫
🤝 We're excited to partner with Arcadia to make DeFi a safer place.
You may now directly purchase OpenCover from the Arcadia UI 🚀
Arcadia users can swiftly protect their positions as they deposit into their chosen pool.
Get covered and find onchain peace of mind.
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