Jeremiah | OpenCover
@itsjeremiahs
📣 LAUNCH ANNOUNCEMENT 🔵 OpenCover is now live on @base 🛡️ That's $200m+ of underwriting capital from Nexus Mutual publicly accessible on L2 for the first time. See why this is a breakthrough for onchain safety and get your first cover free (up to $100k) 👇🏻👇🏼👇🏽👇🏾👇🏿
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Jeremiah | OpenCover
@itsjeremiahs
Onchain cover, the onchain-native alternative to insurance, is the ultimate safety net against protocol failures. But adoption is still low (~25k policies sold all time) — despite onchain safety still being an open problem with $230m+ exploited just last month [DeFiLlama]
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Jeremiah | OpenCover
@itsjeremiahs
Why is cover adoption so low? 1) Most of the underwriting capital is on L1 while onchain usage is shifting to L2 [L2beat] 2) Distribution is still a challenge: many onchain users do not know about their onchain risk mitigation options. Our mission is to change this.
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