On September 10, on-chain risk assurance platform OpenCover announced the expansion of institutional-grade risk coverage to the Solana network. Eligible positions can now receive risk coverage, initially covering Kamino, Raydium, Orca, and Jupiter, with specific coverage scope, limits, and terms varying by protocol and position. OpenCover primarily provides on-chain risk assurance for DeFi users and connects users with underwriters such as Nexus Mutual. Following this expansion, Solana ecosystem users can purchase relevant coverage against risks such as smart contract vulnerabilities, oracle failures or manipulations, liquidation failures, and governance attacks. According to a previous announcement by Nexus Mutual, it has currently launched coverage projects for Kamino, Raydium, Orca, and Jupiter on Solana, covering nearly 90% of the funds in the Solana lending market. Among these, Kamino and Jupiter have over $1 billion and $925 million in lending deposits, respectively. OpenCover stated that this launch marks the beginning of its further expansion of risk transfer infrastructure on Solana, with plans to collaborate with protocols, asset management firms, and liquidity providers to broaden the range of positions eligible for coverage.
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