š”ļø OpenCover Alpha ā November 2023
The insider view on DeFi cover, risk and security.
Each month, our analysts distill the insider view on DeFi cover, risk and security to keep you ahead of the curve in less than a minute.
DeFi cover underwriting capital and top exploits October 2023
OpenCover updates
The OpenCover aggregator has been launched on Base and now supports 15 protocols. We are ramping up for launch on several further L2s and actively working on adding cover for more protocols.
We are working on a B2B API for real-time cover. Looking to mitigate your product or organizationās onchain risk? Get in touch.
The team will be at Devconnect Nov 16ā18 where our CEO will be giving a talk on the state of DeFi insurance. Reach out if youād like to connect.
DeFi exploit highlights
Stars Arena has suffered a smart contract exploit for $2.9 million.
Platypus Finance on Avalanche was exploited for over $2 million.
The Fantom Foundation was hacked for $550k worth of crypto funds.
Crypto exchange Coins.ph has been exploited for over $6m worth of funds.
Developers of memecoin Safereum have reportedly drained users of $1.3 m.
Cover provider highlights
Nexus Mutual is launching an major tokenomics upgrade to bring the price of NXM and the open market valuation together again and allow members who wish to exit to do so directly from the protocol.
InsurAce launched their V2 tokenomics based on the VeToken model.
Risk Harbor rebranded to Subsea and soft-launched a testnet with a revamped protocol, built on Karak, their new L2. Mainnet launch is expected in the following weeks.
Sherlock introduced public watson profiles. Audit contests took place for Ajna #2, Real Wagmi #2, and Aloe.
Uno Dune dashboard is live with $UNO tokenomics, underwriting capital, sales & BD stats and UNO WatchDog metrics.
For real-time updates follow us on X and join the OpenCover community on Discord.