🛡️ OpenCover Alpha – August 2025
Explore what we’ve been up to this month – Circle's IPO and the importance of Depeg Cover, celebrating a $100m milestone, $300m protected with Request Finance, and more 📊
TLDR:
Circle Goes Public: A New Era for Stablecoins
Celebrating $100 Million Secured
$300 Million Protected with Request Finance
OpenCover Credits: Stay Safe and Get Rewarded
Alpha and Breaking Onchain News
Circle Goes Public: A New Era for Stablecoins 🪙
On July 10, 2025, USDC issuer Circle went public on the NYSE under the ticker CRCL.
The listing signals growing institutional trust in stablecoins and accelerating momentum for the future of onchain finance. New stablecoin projects are launching across ecosystems, expanding access to yield-bearing digital dollars.
But with innovation comes risk.
What happens if a stablecoin loses its peg to the US dollar?
🛡️ Enter Depeg Cover.
If a token’s price drops significantly below its intended value for a sustained period, you’re protected.
Depeg Cover safeguards your stablecoins, unlocking safer yield strategies and empowering risk-conscious DeFi users to keep earning with confidence.
Celebrating $100 Million Secured 🏆
We’ve now protected over $100 million in onchain deposits with Protocol and Depeg Cover.
From LPs to lending and staking strategies, OpenCover is trusted by power users, DAOs, and funds to safeguard their onchain positions.
This milestone wouldn’t be possible without the support of our users and partners.
Special thanks to Nexus Mutual, Base, and Coinbase for helping make onchain risk protection the new standard.
Cheers to $100 million secured and many more to come!
$300M Covered with Request Finance 🔒
We have now protected over $300 million in transaction volume with Request Finance.
From payroll to invoices and treasury transfers, DAOs, teams, and enterprises trust us to safeguard their most critical onchain financial operations.
Together with Request, we’re setting a new standard for secure onchain payments across Ethereum, Arbitrum, Polygon, and Base.
Take control of your risk. Protect your transactions with Request Finance today.
OpenCover Credits: Stay Safe and Get Rewarded 🏅
At OpenCover, we believe the more you cover, the easier it should be to stay protected.
We launched OpenCover Credits as a way to thank and reward our most active users.
Earn credits by purchasing and renewing cover, taking part in community initiatives, and more. First-time cover buyers can earn up to 250 credits!
Getting started is as simple as connecting your wallet and purchasing your first cover. Credits will be applied to your account immediately.
Alpha and Breaking Onchain News 🗞️
Arcadia and GMX were hacked for $3.5 million and $42 million, respectively. We provide coverage for both protocols. If you’ve purchased cover for either, you can submit a claim here.
BigONE was exploited for over $27 million, and WOO X lost $14 million in an attack.
In other news, last month’s most popular covers on OpenCover were vfat, Beefy, and the Base DeFi Pass.
For real-time news, insights, and more, join our Discord and follow us on 𝕏.