Decentralized insurance protocol Cover holds vote to cover Pickle hack

Decentralized insurance protocol Cover holds vote to cover Pickle hack


In what might be an important step towards the maturation of the decentralized insurance space, a claim was filed yesterday with DeFi insurance protocol Cover following the $19 million Dai hack of Pickle Finance — and so far, the majority of users want to see a payout happen.

According to the claim on Cover’s website filed Nov. 21, there have been 99 votes at the time of publication throwing roughly 9,800 COVER tokens — more than 99% of respondent tokens — behind a “yes” vote to pay out affected coverage holders. Ivan Martinez, a technical advisor for Cover, said on Twitter that should the vote pass, the claim will move to its Claim Validity Committee “to decide if it’s valid for a payout or not.”

$COVER Protocol needs $COVER holders to head to the snapshot page to vote for the claim on $PICKLE finance.

So far it seems a resounding yes to be paid out. https://t.co/P8nl5NgpiW https://t.co/VTnIi3HZ2O

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— DeFi Ted

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