🛡️ OpenCover Alpha –August 2024
It's been a busy August, dive in to learn more about what we've been up to 📊
TLDR
OpenCover Base Pass closed beta sign-up!
Arcadia Finance Integration
Breaking news in the onchain cover space
The OpenCover Base Pass 🛡️
Over the last two months, we have been working with Nexus Mutual to build out a new type of cover!
As leaves start to fall from the trees, it’s clear that summer is coming to an end; to celebrate another historic onchain summer (and the inevitable beginning of onchain autumn) we’re launching the Base DeFi pass. This cover will offer protection across leading protocols on Base, enabling users to stay safe and secure across the ecosystem with one singular cover purchase!
We’re expecting a large demand for the cover and will be starting with a closed beta, to make sure you have access on launch make sure to follow the link below 👇
Arcadia Finance 🤝 OpenCover
It’s been a great month at OpenCover, enhancing our onchain cover offerings!
We're thrilled to announce our latest integration with Arcadia Finance, bringing enhanced protection to lenders on their platform. Now, users lending ETH or USDC through Arcadia can seamlessly access OpenCover's insurance options, providing an extra layer of security for their positions.
How does this work
Visit Arcadia Finance and select your desired lending pool.
Enter your lending amount and activate the "Protect my deposit" option.
Choose your preferred coverage duration.
Purchase your cover using your preferred wallet, and your cover will be active within 24 hours.
You can view your active cover on OpenSea or directly on OpenCover.
This integration represents another step in our mission to make DeFi safer and more accessible. By providing native coverage options, we're empowering Arcadia's users to lend, with added confidence.
Stay tuned for more updates and integrations as we continue to expand the OpenCover ecosystem!
Alpha and Breaking Onchain news 🗞️
OpenCover now offers extended cover durations, allowing users to protect their positions for 7, 30, 60, and 90-day periods. This update provides more flexibility for long-term protection against onchain risks.
OpenCover has added support for Ramses Exchange and Spark Lending, expanding protection options for users.
Nexera was hacked for $1.76m and Ronin has been reimbursed $12M after a white hat alerted to a potential MEV exploit.
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