Kraken promotes Protected Strategies USDC vault with Firelight coverage

Kraken is promoting its Protected Strategies USDC product on Kraken DeFi Earn, advertising up to 4.5% APY with built-in coverage: up to $100k of a user's USDC may be eligible for coverage against events such as smart contract exploits, subject to Firelight's terms.

• Firelight's onchain cover is live on the Protected Strategies USDC vault (formerly Boosted USDC), with validated payouts released directly to the vault
• The cost of coverage is paid out of the vault's yield, so the displayed APY is already net of it
• Coverage has caps and aggregate limits, so payout may be less than the full loss

Promoted via KrakenFX on X in late October 2026, with APY quoted as of October 2026.