March 25, 2021, 7:43AM EDT
• 13 min read

Cover Protocol: a peer-to-peer coverage market

Quick Take

  • Cover Protocol is a decentralized market that offers pseudo-insurance against DeFi exploits
  • Coverage seekers buy protocol-specific CLAIM tokens to get covered, whereas underwriters buy NOCLAIM tokens to earn premiums, and prices are market-driven
  • They have undergone a series of controversies and the market sentiment is mixed

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