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cover Cover Protocol #1898
14.32 USD -2.08% -0.30
14.09 14.66
Circulating supply 79.2K
Total supply 82K
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cover Price

Current Price 14.32 USD
Price Change 24H -0.30 USD
Price Change 24H -2.08%
Price Change 7D 2.71%
Price Change 14D 6.06%
Price Change 30D 6.11%
Price Change 60D -4.22%
Price Change 1Y -38.18%
Market Cap Change 24H -21,373.4
Market Cap Change 24H -1.85%
All time high (ATH) 1,687.11 USD
ATH Change -99.15%
ATH Date 2021, Feb 17

cover Markets

Last price: 14.32 USD
Last price: 14.31 USDT
Spread: 0.42%
24H Volume:
82.9K USD
MEXC Global
Last price: 14.35 USD
Last price: 14.34 USDT
Spread: 0.56%
24H Volume:
10.1K USD
Last price: 15.15 USD
Last price: 0.01 0XC02AAA39B223FE8D0A0E5C4F27EAD9083C756CC2
Spread: 0.64%
24H Volume:
160.5 USD
Last price: 15.60 USD
Last price: 32.55 0X21BE370D5312F44CB42CE377BC9B8A0CEF1A4C83
Spread: 0.65%
24H Volume:
0.4 USD

* Anomaly - Trading price is an outlier against the average

** Inactive - No trades in the last 3 hours

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.