Cover Protocol

Cover Protocol Price Today

Price COVER to USD now is $13.7. Trading volume by 24-hours $45.588. Cover Protocol, which_ranked #1830 price is up 1.33% in the past 24-hours. Cover Protocol has circulating supply of $0 and have $1.084,143 capitalization. In additional, total supply is $79.179.

Highest price for Cover Protocol

The all-time high price of COVER is $1.687.11, the record was set on the 0.

Lowest price for Cover Protocol

COVER all-time low price is $8.4, the record was set on 0.

How much has the price of Cover Protocol changed lately?

7 days ago the price was $17 , this changed the COVER price by 25.11561%

14 days ago the price was $17 , this changed the COVER price by 25.2496%

30 days ago the price was $17 , this changed the COVER price by 21.02125%

60 days ago the price was $25 , this changed the COVER price by 79.09029%

1 days ago the price was $26 , this changed the COVER price by -91.80214%

What is Cover Protocol

Cover Protocol is a peer-to-peer insurance market, where the way it operates is more similar to prediction market. Unlike other insurance protocols, the governance token is not used for underwriting risk. To bootstrap coverage for a new protocol, market makers will need to be incentivized to stake collateral of DAI/yDAI to mint CLAIM and NOCLAIM tokens. All series covers a specified protocol and have a specified expiry date. During the expiry date, either CLAIM or NOCLAIM will have the full claim to the collaterals. For example, if 100 DAI is used to provide coverage for Compound protocol until an expiry date, it will yield 100 CLAIM and 100 NOCLAIM tokens. On the expiry date, if there is a valid claim event, every CLAIM token will receive 1 DAI while NOCLAIM token will expire worthless. The converse is true if there is no valid claim event. In this case, every NOCLAIM token will receive 1 DAI while CLAIM token will expire worthless.