🛡️ OpenCover Alpha –July 2024
It's been a busy July, dive in to learn more about what we've been up to 🌅
TLDR
Product updates and Coinbase Smart Wallet support
Breaking down Bundled Covers
Breaking news in the onchain cover space
Product updates
We’re now supporting Coinbase Smart Wallet! To celebrate the launch we’ve opened up some free cover to our users.
We know choosing the best cover for you takes thought, so we’ve added a “trending cover” section to our app to help you stay up-to-date with what’s popular.
In July alone we’ve listed over 10 new protocol cover products, allowing users to purchase protection directly on L2. To stay up to date with our latest launches follow us on 𝕏
Bundled Covers | What are they?
Over the last quarter, and July specifically, we have seen an uptick in users requesting Budled Covers, but what are bundled covers and how can they help you stay safe onchain?
Earlier this year The Nexus Team worked to create a new type of onchain cover, after receiving feedback from users that they didn't want to purchase multiple covers to protect their onchain positions.
In general, only the protocol you have purchased cover for is included in your cover. For instance, a Beefy cover will not natively protect against vulnerabilities in the underlying yield protocol, and a separate cover should be purchased to protect both.
We list numerous bundled products that offer protection on a given set of composed protocols. If there are any specific bundled covers that you would like to see listed, we would love to hear from you in Discord.
Alpha and Breaking Onchain news 🗞️
We’re working with Nexus Mutual to build a new cover product and would love your feedback.
Terra experienced an exploit that has resulted in an estimated ~$4M loss.
Nexus Mutual has released its Q2 Insights report.
For real-time news, insights and more, join our Discord and follow us on 𝕏.