OpenCover

**OpenCover completed multiple payouts** to users affected by recent DeFi incidents. **Key developments:** - Users from Beefy Finance, Euler Finance, and Harvest Finance received full compensation - Payouts covered losses from the Stream Finance fallout and related contagion effects - Claims processed for users who didn't directly interact with failed protocols but were still impacted **Why this matters:** - Demonstrates how DeFi protocols interconnect, creating **second-order risks** - Shows cover protection working as intended during real incidents - Highlights the importance of multi-protocol coverage in DeFi The payouts reinforce that **contagion risk is real** in DeFi's composable ecosystem, where protocols build on each other.

**Stream Finance incident** has caused downstream effects across multiple DeFi protocols, prompting insurance claims. **Eligible coverage includes:** - Beefy Finance Multi-protocol - Harvest Finance Multi-protocol - Base DeFi Pass - Nexus Mutual Entry/Essential/Elite **How to claim:** - Users with active cover can submit claims at [opencover.com/claim](https://opencover.com/claim) - Contact via DM or Discord ticket **Key takeaway:** The incident demonstrates how **contagion spreads through DeFi** - protocols you use often depend on others, creating interconnected risks. This serves as a reminder that **zero risk doesn't exist** onchain, highlighting why coverage exists to protect users when they need it most.

OpenCover published their November 2025 alpha update, highlighting key developments in their DeFi insurance platform. **Key Updates:** - Full integration with StakeDAO completed - Participation in DAS 2025 event - Launch of exclusive founder video series - Monthly progress report available The update provides insights into OpenCover's ongoing development as they expand their onchain risk protection services. The platform focuses on making portfolio protection accessible and affordable for DeFi users. [Read the full update](https://open.substack.com/pub/opencover/p/opencover-alpha-november-2025?r=2chtfi&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true)

**Major DeFi incident affects multiple protocols** Users with active insurance coverage for several major DeFi platforms need to submit claims immediately: - **Beefy Finance** Multi-protocol coverage - **Balancer V2** protocol coverage - **Base DeFi Pass** coverage - **Nexus Mutual** Entry/Essential/Elite tiers **How to claim:** - Submit directly at [opencover.com/claim](https://opencover.com/claim) - Check registered email for notifications - Contact support if needed **Key reminder:** This incident reinforces that **zero risk doesn't exist** in DeFi or traditional finance. Insurance coverage exists specifically for situations like this - when you need protection most. *If you have active coverage for any affected protocols, act now to secure your claim.*

**USDai Depeg Cover Now Available** OpenCover has launched depeg protection for USDai, an AI-focused stablecoin with over 37,000 users and $500M+ TVL. **Key Features:** - Protection against stablecoin depegging events - Safety net for high-yield farming activities - Coverage for wrapped assets losing their peg **Why It Matters:** Major stablecoins like USDC and USDT have previously lost their pegs, creating significant risks for DeFi users. **Get Protected:** [Purchase depeg cover](https://opencover.com/app/?invite=openyield&cover=338&filter=Depeg+Cover) Protect your yield and assets with this new insurance option.

OpenCover released their October 2025 alpha update highlighting key developments in DeFi insurance. **Key Updates:** - **ArcadiaFi payout** user satisfaction metrics - **Hyperliquid ecosystem** coverage expansion - **Fido automatic cover** implementation - Additional platform improvements and features The monthly update provides insights into OpenCover's progress in making onchain risk protection more accessible and affordable. [Read the full October update](https://open.substack.com/pub/opencover/p/opencover-alpha-october-2025?r=2chtfi&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true)

**OpenCover successfully paid out ~$250K** to victims of the ArcadiaFi exploit, working alongside Nexus Mutual to compensate affected users. **Key developments:** - Cover holders received full payouts following the hack - ~$5M in new cover purchased by Arcadia users post-incident - Demonstrates that DeFi insurance actually works when needed The payout proves that **onchain insurance coverage delivers real protection** when smart contract exploits occur. Users who had purchased cover through OpenCover were fully compensated for their losses. Following the incident, Arcadia users have shown increased confidence in protection services, with $5 million in new coverage purchased to safeguard future onchain activities.

OpenCover released their September 2025 alpha update highlighting several key developments: **Major Updates:** - Processed **Arcadia exploit payouts** to affected users - Launched **OpenYield** - a new product offering - Expanded **Depeg Cover** protection options - Introduced **OpenCover Credits** system The decentralized insurance protocol continues expanding its coverage options and improving user experience. OpenCover provides protection against smart contract hacks, oracle failures, and other onchain risks through vetted underwriters. Read the full monthly update: [OpenCover Alpha September 2025](https://opencover.substack.com/p/opencover-alpha-september-2025)

OpenCover has expanded its protocol coverage to include Silo Finance, a non-custodial banking platform operating across Ethereum, Sonic, and Avalanche networks. Key Features: - Protection for both stablecoin and native token positions - Available on multiple chains - Coverage against smart contract risks Users can now secure their lending and borrowing positions on Silo through [OpenCover's platform](http://opencover.com/silo).

Following the recent Arcadia protocol exploit, affected users who purchased coverage through OpenCover can now submit their claims. Key Points: - Claims process is officially open for Arcadia exploit victims - Eligible users must have had active coverage during the incident - Claims can be submitted at [OpenCover's claim portal](http://opencover.com/claim) For those without coverage seeking future protection: - Learn about protocol coverage options at [OpenCover](https://opencover.com/) - Review specific protocol coverage details at [Protocol Cover Guide](https://opencover.com/cover/protocol-cover/)