Pendle Multi Cover Now Available on OpenCover

**Depeg coverage now available for Frankencoin (ZCHF) users** OpenCover has launched depeg protection for Frankencoin, allowing users to insure against defined depeg events. The coverage is underwritten by Nexus Mutual. **Key details:** - Protection covers specific depeg scenarios for ZCHF - Built on OpenCover's platform - Backed by Nexus Mutual's underwriting This follows OpenCover's previous depeg coverage launch for frxUSD in August 2025, expanding their portfolio of stablecoin protection options.

OpenCover is extending its depeg coverage to include non-USD denominated assets, broadening protection options for users. **What This Means:** - Depeg cover protects against stablecoins or wrapped assets losing their peg - Previously covered USD-denominated assets like USDT, frxUSD, and sGHO - Now expanding to protect additional pegged assets beyond the dollar This expansion gives users more options to protect their portfolio against peg failures across different asset types.

**Covered Vaults integrate risk protection directly into DeFi deposits** OpenCover has introduced Covered Vaults, a new approach to onchain risk management that embeds protection into the deposit process. **Key features:** - Users activate Vault Cover simply by depositing funds - Premiums automatically stream from yield while positions are held - No upfront payments or duration commitments required - Coverage stops automatically when users exit their positions **What makes it different:** Unlike traditional DeFi insurance products, Covered Vaults eliminate separate workflows and manual premium payments. Protection becomes a native part of the vault strategy rather than an add-on product. The system covers smart contract hacks, oracle failures, and other onchain risks through vetted underwriters.

OpenCover has deployed Covered Vaults across seven curated vaults on Morpho, managed by kpk.io. The integration brings opt-in insurance coverage to vault strategies, with protection underwritten by Nexus Mutual. **Key Features:** - Vault-native risk transfer built into curated strategies - Optional coverage for users seeking additional protection - Partnership between OpenCover, Nexus Mutual, and Morpho Covered Vaults represent a new primitive for integrated risk management in DeFi vaults, allowing users to add insurance coverage directly within their vault positions.

**Covered Vaults** have launched in the [Superform Base mini app](https://base.app/app/https:/mini.superform.xyz), introducing embedded onchain protection directly into vault deposits. **Key features:** - No upfront payment required - No duration commitment - Single-tap activation at deposit - No separate workflow needed The technology is being adopted by Brazilian fintech **Picnic** and integrated into Superform's vault experience on Base. This marks the first implementation of vault-native risk transfer, allowing users to protect their deposits against smart contract risks without leaving the deposit interface. The integration eliminates the traditional friction of purchasing protection separately, making risk management a seamless part of the savings experience. [Read the full Alpha newsletter](https://opencover.substack.com/p/alpha-june-2026-how-covered-vaults)