Generalize
Information
COVER Protocol (COVER) is a cryptocurrency that runs on the Ethereum platform. It has a total supply of 82,000 tokens, with 79,179.46003249 currently in circulation. The latest price of COVER Protocol is $15.29449058 USD, showing a 0.02% increase in the last 24 hours. The token is actively traded on 15 markets, with a trading volume of $3,357.54 in the past day. For additional details, please visit https://www.coverprotocol.com/.
Information
What is the description of the coin?
Cover Protocol operates on the Ethereum platform and offers peer-to-peer coverage using fungible tokens. Unlike a bonding curve, the market determines the coverage prices. When a user deposits DAI, they receive two tokens: a CLAIM token and a NOCLAIM token.
The NOCLAIM token represents the right to receive the deposited collateral if no claim payout is awarded during the coverage period. The CLAIM token represents the right to receive the deposited collateral (or a fraction of it) if a claim payout is awarded through the claims management process.
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