Protected onchain yield is now live directly inside @usePicnic 🛡️
One of the first real-world examples of embedded onchain protection reaching mainstream fintech UX.
Powered by @OpenCover and underwritten by @NexusMutual.
COVERED VAULTS SPOTLIGHT
The Covered @Morpho@gauntlet_xyz USDC Prime vault is currently yielding 6% APY on @Optimism
DeFi with risk priced in, outperforming offchain savings⤵️
Over $7 billion has been lost to DeFi exploits. Less than 1% of total value locked is insured.
There are three pillars of vault risk management: assessment, mitigation, and risk transfer. The industry currently only does the first two.
@itsJeremiahS, @OpenCover on vault-native risk transfer and what it takes to close the protection gap.
What are Covered Vaults, and how do they work?
🎙️ @itsJeremiahS breaks down the mechanics behind the first vault-native risk transfer primitive, and how we built it from the ground up.
Full episode (#29) with @vaultsfyi CEO @ryanrodenbaugh 👇
⚡️ My full talk on vault-native risk transfer @Vault__Summit@EthCC
→ Why managing vault risk is critical for institutional adoption
→ Why vault-native risk transfer is so hard
→ How @OpenCover is solving it ⤵️
🎤 Our CEO @itsJeremiahS takes the stage at the @Vault__Summit during @EthCC.
We’re unveiling a new approach to making protection against hacks, depegs, and protocol failures native to onchain vaults.
Vault-native risk transfer is coming 🛡️
As vault systems grow, risk transfer becomes part of the product.
@itsJeremiahS, Co-founder & CEO of @OpenCover, will discuss the opportunities behind making protection against hacks, depegs, and other protocol-level risks more native to onchain vault products.
Perfect is the enemy of good, except when it comes to security.
The results are out: 700+ security researchers at @sherlockdefi tried to break our new Insured Vault primitive, without success.
Not a single valid find.
Kudos to the OpenCover team and especially @matrixtehen💪
🚀 JUST LAUNCHED 🚀
🛡️ We teamed up with @vfat_io to keep you safe onchain while earning market-leading yields on @Base 🔵
Earning safely with DeFi has never been this simple 👇
🛡️ We're joining forces with @Coinbase to help you stay safe onchain 🛡️
Starting today, Coinbase One members benefit from 10% off the @Base DeFi Pass and the entire catalog of OpenCover products.
It has never been easier to earn yield on top DeFi protocols with peace of mind 👇
We just launched the @Base DeFi Pass — one of the biggest innovations in blockchain protocol protection of the year with @NexusMutual 🛡️
Exclusively on @ProductHunt today with $1,000,000 of free cover up for grabs for early supporters!
👇🏻👇🏼👇🏽👇🏾👇🏿
📣 Breaking: the @Base DeFi Pass is now available to everyone 🔵
The Base Pass is the *very first* protocol cover offering all-in onchain protection across top Base protocols.
Check out the launch exclusive on @ProductHunt (and get free cover!) 👇🏻👇🏼👇🏽👇🏾👇🏿https://t.co/ZI9UG1GckE
Loss ratio is the most important metric in insurance.
It shows whether an insurance business is making money (claims / premiums).
@NexusMutual is the only DeFi cover provider that has a loss ratio < 1.
Nexus Mutual: 0.74
Unslashed: 2.53
InsurAce: 4.88
https://t.co/0k5XObERwm
🚨Your keys, your coins — your risk.
Last week, the Euler hack proved that DeFi safety remains a critical issue.
Since the UST depeg, our team has helped DeFi users recover $1,000,000+ through DeFi insurance alternatives.
Today, we’re excited to share what we’ve learned
🧵👇
Introducing our newest partner @OpenCoverDeFi 🛡️, the #1 source for DeFi cover data, news and insights. 📈 With over 91.7% coverage of DeFi cover activity by TVL across multiple networks. Make #DeFi safe & accessible to all with their latest insights 😎
https://t.co/voqvR9POs6