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COVERED pairs token launches with transparent, committed underwriting capital against defined launch risks.
A COVERED launch pairs $FROG with $500,000 of committed capital, underwritten by 14 underwriters against launch failures defined before trading.
Every COVERED launch publishes exactly what can trigger a claim, how much capital is committed, who underwrote it and how holders redeem. No policy, no market: a token cannot trade until its policy binds.
The asset is the visible plane. Capital sits behind it. Losses consume the creator's bond first, then junior underwriters, then senior. What is left returns top-down.
No candles. Every row is a policy: how much capital stands behind it, whether it is fully funded, what the creator put up and what the market charges for the risk.
| Asset | Policy limit | Funded | Risk | Premium | Term | Status |
|---|---|---|---|---|---|---|
| $FROGFrog Worldwide | $500K | $500K100% | A− | 2.40% | 31D 14H | ACTIVE |
| $HOUSEHouse Money | $1.2M | $960K80% | B+ | 4.10% | 62D term | FUNDING |
| $VOIDVoid | $250K | $250K100% | A | 1.80% | 18D 03H | ACTIVE |
| $ATLASAtlas Network | $5M | $5M100% | A | 3.62% | 54D 09H | ACTIVE |
| $MERIDMeridian | $750K | $690K92% | A− | 2.75% | 45D term | BINDING |
| $KILNKiln | $400K | $400K100% | B+ | 3.20% | 41D 02H | ACTIVE |
| $PALEPale Fire | $500K | $377K75% | A− | 2.40% | 45D term | FUNDING |
COVERED does not reimburse holders because markets go down. It covers precisely defined launch failures, and makes the rest impossible in code.
If a failure can be made impossible, it is — and is never insured.
Residual failures that can be proven from chain data.
Markets move. A policy is not a price floor.
Price the risk. Put capital behind it. Underwriters fund tranches at the posted rate; everyone filled earns the same rate. Capital locks at binding and returns with premium at expiry, less any covered losses.
The risk engine watches every launch continuously and proposes a price as a range, never a certainty. Underwriters decide what the risk is worth by committing capital — or by not.
Advisory. A model trained on 18,400 launches, not a guarantee. Terms are set by underwriters putting capital at risk.
Linked-wallet distribution · rule LINK_RULE_V1 · unchallenged
Redeeming surrenders your eligible tokens. Claims window closes in 5D 22H.
No. Price declines, low volume and sentiment are market risk and never trigger a claim. A policy only responds to the covered events listed on it.
In V1, one per-launch event: wallets funded directly by the creator's insider set sell more than the policy's threshold into the market. The rule is public, versioned and pinned to the policy. Contract exploits are covered by a shared protocol layer.
A bonded reporter posts the event with onchain evidence. Anyone can challenge within 48 hours. Disputes are resolved by re-running the deterministic rule, not by a vote.
The lesser of what you paid into the market and your position's value just before the event, times the policy's benefit rate, paid pro-rata if the pool is oversubscribed. The live coverage ratio on every launch shows this today.
The creator posts a first-loss bond. Underwriters fund junior and senior tranches above it. Every dollar is USDC locked in the policy contract from binding until settlement.
No. Withdrawals are free only before binding. After that, capital is locked until expiry or settlement.
Third-party capital behind an unknown creator can be drained by a deliberate breach. External capacity is capped by the creator's onchain record: first-time anonymous launches are bond-only.
COVERED is neutral infrastructure for committed, parametric recourse. The legal form of each capital provider is separate from the protocol and depends on jurisdiction. Nothing here is an offer of insurance.