Overview
On-chain coverage, end to end.
Bob has $500K supplied to Aave and wants protection against an exploit. He pays a premium for coverage; Alice underwrites the risk. The protocol earns a fee on every transaction, regardless of outcome.
Aave V3Blue Chip rating3% implied hack risk6-month coverage periodPool depth 500K · 90 / 10
Bob's Aave V3 position
$500K USDC supplied. The asset coverage is written against.
⚠uninsured
Supplied
$500,000
USDC
APY
9.0%
supply + AAVE incentives
Yield earned (6mo)
+$22,500
9.0% APY · 6 mo
Exposure
$500,000 at risk
⚠ This position has no insurance. If Aave is exploited, Bob could lose up to $500,000.
He decides to buy coverage. ↓
Alice
Coverage Provider
"I underwrite the insurance and collect the premium upfront."
1
Mint coverage tokens
Deposit $100,000 into the Cover contract — receive matched CLAIM + NOCLAIM tokens.
2
Sell CLAIM for premium
Sell all 100K CLAIM via the pool. Premium received upfront.
3
Hold NOCLAIM for 6 months
No further transactions. Wait.
Bob
Coverage Seeker
"I have $500K at risk on Aave. I buy insurance to protect it."
1
Buy CLAIM tokens (the insurance policy)
Spend $15,000 USDC for ~500,000 CLAIM. 3% of his Aave exposure for full coverage.
2
Hold and wait
Buy coverage first — then this step unlocks.
The Protocol
Marketplace operator
What happens at month 6? press hack or no-hack to preview the outcome.