Exchange Cover Protocol

cover Price Live Data

The live Cover Protocol price today is $ 0.65 usd with a 24-hour trading volume of $123 usd. We update our COVER to usd price in real-time. Cover Protocol is down 0% in the last 24 hours. The current coinmarketcap ranking is #3884, with a live market cap of $51 861 usd. It has a circulating supply of 79 179 COVER coins and the max. Supply of 82 001 COVER coins.

What Is Cover Protocol (cover)?

Cover Protocol is a distributed protection market, where the manner in which it works is more like expectation market. Dissimilar to other protection conventions, the administration token isn't utilized for guaranteeing risk. 

To bootstrap inclusion for another convention, market producers should be boosted to stake security of DAI/yDAI to mint CLAIM and NOCLAIM tokens. All series covers a predefined convention and have a predetermined expiry date. During the expiry date, either CLAIM or NOCLAIM will have the full case to the collaterals. 

For model, assuming that 100 DAI is utilized to give inclusion to Compound convention until an expiry date, it will yield 100 CLAIM and 100 NOCLAIM tokens. On the expiry date, assuming that there is a substantial case occasion, each CLAIM token will get 1 DAI while NOCLAIM token will lapse useless. The opposite is valid on the off chance that there is no substantial case occasion. For this situation, each NOCLAIM token will get 1 DAI while CLAIM token will terminate worthless.