Cover Pools
Cover Pools are public vaults anyone can deposit and withdraw at any time. Cover Pools
- accepts a specific token as deposit e.g. wstEth
- pays an APY in USD8 funded by USD8’s treasury yield
- has capped size
Insured Tokens
Insured tokens are carefully evaluated, selected and adjusted on an ongoing basis. USD8 accepts independent security audits or certificates from the following sources.
Withdraw
Withdraw has a 7 day cool down window, can be requested at anytime when there are no active claims.
If new claims are made during this time, withdraw process is then paused till the incident is resolved which can be another 9-12 days during beta (6-9 days after beta) from the first claim. During this time all assets in cool down are still exposed to the insurance claim payouts.
Assets in cool down do not gain yield and are still covering claims. Assets are withdrawable after cool down at anytime, they do not cover any claims nor gain yield anymore.
Payout Limit
There is a limit for the total payout for each incident from the Cover Pool, currently set at 50%, meaning max payout of each incident is capped at 50% size of the current Cover Pool.