Verdict Cover
Decentralized, parametric coverage for DeFi Protocols
Video
Công nghệ sử dụng
Sự miêu tả
Verdict Cover: decentralized parametric cover for DeFi Protocols.
Each cover is one market with two sides. One USDC mints one CLAIM and one NOCLAIM. CLAIM pays out if the covered incident happens, and NOCLAIM pays out if the term ends without one. Every dollar of cover is a dollar already locked in the cover contract, and the contract checks this on every mint and redemption.
Buy protection. Cover is a CLAIM position, bought in the cover's own Uniswap v4 market. The price is the odds.
Earn the premium. Anyone can underwrite: lock USDC, sell the CLAIM for the premium, keep the NOCLAIM.
The event is the claim.
1. Each cover commits on-chain, at creation, to the hash of its policy and payout triggers.
2. A Chainlink CRE workflow watches the covered protocol for admin-key changes, upgrades and pauses. When a covered trigger fires, it files the claim on-chain with its evidence. On Arbitrum it wakes on every watched event through a log trigger.
3. A bond is posted and a public dispute window opens. Markets halt while the claim is open.
4. The claim settles on-chain, and after a finalize delay CLAIM redeems for collateral.
If the term ends with no claim, a second CRE workflow closes it and NOCLAIM redeems for collateral.
Properties: full collateralization, no upgrade path, an exit that is always open to anyone holding both sides, markets that halt during a claim, and two bounded governance levers. One is a pause; the other is a veto window on accepted claims. Neither lever moves collateral out of the cover.
Built on Arbitrum. A separate market for every cover only works where trades are cheap. The demo runs on Arbitrum Sepolia: Harbor, a fictional USDC vault, embeds a cover. The claim story and the no-claim story both run end to end on-chain, with the CRE workflows filing the claim and closing the term. Timings are demo scale.
Roadmap. Mainnet on an Arbitrum chain. USDG alongside USDC as cover collateral: it has the same 6 decimals, so cover positions need no change. Robinhood Chain next: its testnet already supports CRE and USDG, and Uniswap v4 is live on its mainnet.