OpenCover

**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/)

OpenCover introduces a new rewards program using credits to incentivize user participation and enhance DeFi safety. - Users earn credits for purchasing cover, renewals, and community participation - Credit value: 1 credit = $0.01, with no earning limits - New users receive 50 credits for connecting their wallet - Spending features coming soon The platform protects against smart contract errors, oracle manipulation, liquidation failure, and governance manipulation. [Start earning credits](https://opencover.com/credits)

OpenCover and L1 Advisors announce a strategic partnership to provide institutional-grade protection for DeFi investments. The collaboration enables investment managers to secure tokenized portfolios against smart contract hacks and oracle failures while maintaining yield generation. Key features: - Coverage backed by NexusMutual ($5B+ covered) - Protection for hedge-fund strategies and index portfolios - Supports CoinDesk CPUS index sleeves - Maintains yield flow during coverage period The partnership aims to scale institutional DeFi adoption by addressing key risk barriers. Learn more at [OpenCover Institutional](https://opencover.com/institutional)

OpenCover has announced significant developments in their June 2025 update: - Launch of 8 new protocols for coverage - Expansion of vfat Multi Protocol capabilities - Preparations underway for EthCC participation This follows May's achievements including their vfat partnership and InnerCircle launch, which helped secure over $200M in coverage through Request. [Read the full update](https://opencover.substack.com/p/opencover-alpha-june-2025)

VFAT.io has expanded its DeFi coverage options to include Uniswap v4 pools. Users can now secure protection while yield farming across an expanded range of liquidity pools. Key features: - Protection against protocol hacks, oracle manipulation, liquidation failures, and governance attacks - Underwritten by Nexus Mutual (>$5B covered) - Available on Base network for Aerodrome, Uniswap, and PancakeSwap pools *10% discount available for verified Coinbase One members* Get started at [vf.at](http://vf.at)