Cover Protocol
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Protocol TVL
About Cover Protocol
A peer-to-peer coverage market.
Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.
Cover Protocol tokenomics and on-chain capital
Cover Protocol's governance or utility token carries a market capitalisation of $44.1K based on circulating supply at the latest DeFiLlama snapshot. The token's market cap ($44.1K) is small relative to deposits secured by the protocol ($809.8K); a mcap/TVL multiple of 0.05× is sometimes read as a discount, though it can also reflect minimal fee accrual to the token.
Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.
Security & Audits
Protocol Profile
Cover Protocol is a Insurance protocol that lets users supply assets as collateral, borrow against them, and earn interest from borrowers paying variable or stable rates. It is deployed on Ethereum. The codebase has been independently audited (1 report on file).
TVL Distribution by Chain
Supported Chains
Protocol Footprint
Cover Protocol is a single-chain protocol, deployed exclusively on Ethereum — this concentrates execution risk but simplifies the trust model. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts. Its token market cap ($44.1K) is small relative to TVL ($809.8K) — a mcap/TVL ratio of 0.05 is often read as the token being structurally undervalued versus the activity it secures.
Official Resources & Links
Verified external resources for Cover Protocol — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.
Other Insurance protocols on Mantapex
Cover Protocol is one of 7 Insurance protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Nexus Mutual, Easedefi.org, 3F Mutual, and 3 more. These peer protocols collectively secure $124.9M in deposits, giving you a frame of reference for whether Cover Protocol's own TVL is at the top, middle, or tail of the category.
Recent Cover Protocol news
Latest reporting from major crypto news outlets covering Cover Protocol.
- UToday
Cover Protocol Calls It Quits as Price Plunges
Cover Protocol has announced its closure after breaking up with Yearn Finance in March
- UToday
Cover Protocol Calls It Quits as Price Plunges
Cover Protocol has announced its closure after breaking up with Yearn Finance in March
- The Block
Cover Protocol: a peer-to-peer coverage market
Quick Take Cover Protocol is a decentralized market that offers pseudo-insurance against DeFi exploits Coverage seekers buy protocol-specific CLAIM tokens to get covered, whereas…
- Coingape
COVER Hack: Cover Protocol and Binance Announce Compensation Plan for Hack Victims
Cover Protocol, a Defi insurance protocol was recently exploited by a white hat hacker minting an infinite amount of the COVER protocol token owing to an infinite minting bug. The…
- Cointelegraph
Cover Protocol announces compensation plan following mining contract attack
Cover Protocol will distribute new "coins" to token holders as Binance announces compensation for affected traders.
- Crypto Briefing
Grap Finance Claims Responsibility for $4M Cover Protocol Hack, Returns Funds
Cover Protocol lost almost $4 million to an exploit earlier today as hackers discovered a way to reward themselves COVER tokens at will. After the hackers sold the funds on 1inch,…
- Coindesk
Cover Protocol Plans New Token After Attack
Cover Protocol announced it's exploring launching a new COVER token through the snapshot before the attack by a "white hat" hacker on Monday morning.
- Coingape
Cover Protocol Exploit Takes a Bizzare Turn, Hacker Returns All The Funds With an Important Message
Cover Protocol exploit just took an interesting turn as the exploiter has returned all the stolen funds around 4350 ETH back to the deployer with an important message that read,…
Related protocols
Other DeFi protocols connected to Cover Protocol by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.
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Risk Warning
DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.
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