Reddit Posts
Helping the above average John guy understand the Defi space : Decentralized insurance, Nexus Mutual, Armor Protocol, Cover Protocol, Capital Efficiency, Claim payout ratio and risks + notable mentions
Squirrel Finance - gem to help simplify Insurance & DeFi (1m MC)
Mentions
I think there should be some guardrails (not claiming I know what they are!).. but, NOT implemented under the current administration. We are witnessing never-before-seen levels of government interference, overreach, CENSORSHIP, as will as COVER-UPS that have taken place under this "president". Yes I agree with regulations... No, Im not comfortable leaving it in the hands of a corrupt, compromised, & LYING narcissist. Just my 2sats 🪙🪙
OP you literally just launched 10 nuclear strikes on this post. TAKE COVER and get ready for the Justin Sun and Tron HATE!
The Block : *CIRCLE WILL COVER ANY USDC SHORTFALL THAT MAY RESULT FROM SVB MELTDOWN USING “CORPORATE RESOURCES”* Big if true!
I could give a fuck about moons but I want to be able to post in the thread with productive and stimulating topics and TA. May I plz get some karma over here? This is a post they just removed and im tired of it: _____________________ So alot of moon Boys on youtube like to pretend "crypto is the future" as if it will completely replace fiat currency. Im currently 26. I don't believe this will happen in my lifetime but instead that like the global real estate or medical sectors it will be deemed the innovation sector. There's been a massive divide for decades where the tax deductions for the rich people the poor just result in a catch 22 of sorts as the poor people get poorer and the rich people get richer. This is where the innovation sector comes in. Average people who have money to lose at this point in time are no longer the fringe of the adoption cycle but rather moving into the early adopters phase. Many people would say we are already there but I disagree and here why. The adoption model deems: Innovators(the fringe) - 2.5% Early adopters- 13.5% Early majority - 34% Late majority - 34% Laggards - 16% We have currently at a total market cap of 1.8T If you average the US real estate, info tech, industrials, Healthcare, etc. sectors for the United States than you get $4.6T. Well cryptocurrency is GLOBAL and COVER EVERY SECTOR. The US makes 10% of all global markets. So.. 4.6t / 10% = $46T Meaning $46T as an conservative estimate but even at that conservative evaluation: 1.8T is 3.9% on the adoption curve if the model stays true to the conservative evaluation. What does all this mean? Alot of youtubers will tell you to hodl, alot will tell you to sell high buy low. I dont think it matters as long as you have something. This market will evolve further into decentralized insurance and public services next. Im taking the insurance exam next week in hopes of getting my hands dirty. Where there's money, there's risk. Where there's risk, there's insurance. When there's insurance, there's big money. When there is big money, there's regulation. When there's regulation, there's taxes/fines. When there's taxes/fines, there's public services. When there's public services, there's government. When there's government, there's even more money.
Anyone with COVER coins?
It is quite possible that other entities did it as shorting COVER was as you say "easy money" so quite popular. As such a seasoned trader could guess there are shorts piling on it.
Why is COVER pumping? I thought it was dead?
COVER protocol… and after they announced that they stopped the project (6sept 21 ) I witnessed a huge pump some days ago . Suspicious
The picture you see is of cover protocol’s COVER token gaining 300% in a matter of minutes following days of 0 activity just days prior. This project is DEAD! The devs abandoned it and mentioned this in a tweet about a week ago asking all exchanges with the listing, including Binance, to stop all trading. HOW I KNOW THIS IS MANIPULATION 1. this pump happened in response to no news whatsoever 2. The project is literally abandoned! 3. Pump came conveniently right before market update notification (issued in apps) making COVER the top gainer 2 days in a row to attract more money. 4. The margin selling (shorting) of this token was stopped mere minutes after the announcement of the project’s closure and is still unavailable, but you’re still able to buy the token (Robinhood & GameStop but in reverse). HOW THIS IS LITERALLY LIKE STEALING PEOPLE’S MONEY 1. Following the series of bleak news surrounding cover protocol, after it got hacked, people started taking short positions. And finally, after the announcement of the project’s closure, short selling the token was literally like getting free money. Now this information of short positions held by people is known by Binance. Now, If the collateral provided to borrow a token to short sell it is not enough to offset the increase in price of said token, your collateral will be taken “liquidating” you to repay the loan. With a dead token like this, there shouldn’t be a possibility of it rising in price like that, right? Well, that’s only if you don’t consider that by stopping margin selling and subsequent forced liquidations, anyone with a lot of money and information can literally steal your money by artificially inflating the price; and this is exactly what happened. This poses next to no risk to the manipulator since the only people who can sell it are the ones actually holding the token and price cannot be brought down by short sellers. This means that even the people buying cover seconds after the pump hoping for a rise will keep getting dumped on and everyone will lose money except the manipulator. 2. The price pump is purposefully vertical in order to prevent people from providing more collateral in time to prevent their positions from being liquidated. I also held a short position which I took minutes after the news of the project shutting down. Since I knew that manipulations like this could happen, I set a price alert about halfway from the liquidation and index price. I had just fallen asleep and was literally saved by the bell because I didn’t silence my phone. I had to supply collateral which I did within seconds from being liquidated even tho I had over collateralised my loan. This makes me feel so bad for the people who weren’t so lucky. 3. For this stunt to be successful, collusion with the exchange is imperative, which is why it is all but certain Binance is involved. Not only did Binance not stop all trading of Cover let alone delist it, it stopped margin selling. Without this, the price pumper would risk holding the bags because of short sellers. This incident probably won’t get much attention because barely anyone knew about this protocol and what came afterward. But it’s kind of amusing how blatant this manipulation is. COVER/BUSD went from a mere $1 million in trading volume to a $200M in seconds. If someone can bring attention to this please do so via social media.
The picture you see is of cover protocol’s COVER token gaining 300% in a matter of minutes following days of 0 activity just days prior. This project is DEAD! The devs abandoned it and mentioned this in a tweet about a week ago. HOW I KNOW THIS IS MANIPULATION 1. this pump happened in response to no news whatsoever 2. The project is literally abandoned! 3. Pump came conveniently right before market update notification (issued in apps) making COVER the top gainer 2 days in a row to attract more money 4. The margin selling (shorting) of this token was stopped mere minutes after the announcement of the project’s closure and is still unavailable, but you’re still able to buy the token (Robinhood & GameStop but in reverse). HOW THIS IS LITERALLY LIKE STEALING PEOPLE’S MONEY 1. Following the series of bleak news surrounding cover protocol, after it got hacked, people started taking short positions. And finally, after the announcement of the project’s closure, short selling the token was literally like getting free money. Now this information of short positions held by people is known by Binance. Now, If the collateral provided to borrow a token to short sell it is not enough to offset the increase in price of said token, your collateral will be taken “liquidating” you to repay the loan. With a dead token like this, there shouldn’t be a possibility of it rising in price like that, right? Well, that’s only if you don’t consider that by stopping margin selling and subsequent forced liquidations, anyone with a lot of money and information can literally steal your money by artificially inflating the price; and this is exactly what happened. This poses next to no risk to the manipulator since the only people who can sell it are the ones actually holding the token and price cannot be brought down by short sellers. This means that even the people buying cover seconds after the pump hoping for a rise will keep getting dumped on and everyone will lose money except the manipulator. 2. The price pump is purposefully vertical in order to prevent people from providing more collateral in time to prevent their positions from being liquidated. I also held a short position which I took minutes after the news of the project shutting down. Since I knew that manipulations like this could happen, I set a price alert about halfway from the liquidation and index price. I had just fallen asleep and was literally saved by the bell because I didn’t silence my phone. I had to supply collateral which I did within seconds from being liquidated even tho I had over collateralised my loan. This makes me feel so bad for the people who weren’t so lucky. This incident probably won’t get much attention because barely anyone knew about this protocol and what came afterward. But it’s kind of amusing how blatant this manipulation is. COVER/BUSD went from a mere $1 million in trading volume to a $200M in seconds. If someone can bring attention to this please do so via social media.
The picture you see is of cover protocol’s COVER token gaining 300% in a matter of minutes following days of 0 activity just days prior. This project is DEAD! The devs abandoned it and mentioned this in a [tweet](https://twitter.com/coverprotocol/status/1434654581762367488?s=21) about a week ago. HOW I KNOW THIS IS MANIPULATION 1. this pump happened in response to no news whatsoever 2. The project is literally abandoned! 3. Pump came conveniently right before market update notification (issued in apps) making COVER the top gainer 2 days in a row to attract more money 4. The margin selling (shorting) of this token was stopped mere minutes after the announcement of the project’s closure and is still unavailable, but you’re still able to buy the token (Robinhood & GameStop but in reverse). HOW THIS IS LITERALLY LIKE STEALING PEOPLE’S MONEY 1. Following the series of bleak news surrounding cover protocol, after it got hacked, people started taking short positions. And finally, after the announcement of the project’s closure, short selling the token was literally like getting free money. Now this information of short positions held by people is known by Binance. Now, If the collateral provided to borrow a token to short sell it is not enough to offset the increase in price of said token, your collateral will be taken “liquidating” you to repay the loan. With a dead token like this, there shouldn’t be a possibility of it rising in price like that, right? Well, that’s only if you don’t consider that by stopping margin selling and subsequent forced liquidations, anyone with a lot of money and information can literally steal your money by artificially inflating the price; and this is exactly what happened. This poses next to no risk to the manipulator since the only people who can sell it are the ones actually holding the token and price cannot be brought down by short sellers. This means that even the people buying cover seconds after the pump hoping for a rise will keep getting dumped on and everyone will lose money except the manipulator. 2. The price pump is purposefully vertical in order to prevent people from providing more collateral in time to prevent their positions from being liquidated. I also held a short position which I took minutes after the news of the project shutting down. Since I knew that manipulations like this could happen, I set a price alert about halfway from the liquidation and index price. I had just fallen asleep and was literally saved by the bell because I didn’t silence my phone. I had to supply collateral which I did within seconds from being liquidated even tho I had over collateralised my loan. This makes me feel so bad for the people who weren’t so lucky. This incident probably won’t get much attention because barely anyone knew about this protocol and what came afterward. But it’s kind of amusing how blatant this manipulation is. COVER/BUSD went from a mere $1 million in trading volume to a $200M in seconds. If someone can bring attention to this please do so via social media.
The picture you see is of cover protocol’s COVER token gaining 300% in a matter of minutes following days of 0 activity just days prior. This project is DEAD! The devs abandoned it and mentioned this in a [tweet](https://twitter.com/coverprotocol/status/1434654581762367488?s=21) about a week ago. HOW I KNOW THIS IS MANIPULATION 1. this pump happened in response to no news whatsoever 2. The project is literally abandoned! 3. Pump came conveniently right before market update notification (issued in apps) making COVER the top gainer 2 days in a row to attract more money 4. The margin selling (shorting) of this token was stopped mere minutes after the announcement of the project’s closure and is still unavailable, but you’re still able to buy the token (Robinhood & GameStop but in reverse). HOW THIS IS LITERALLY LIKE STEALING PEOPLE’S MONEY 1. Following the series of bleak news surrounding cover protocol, after it got hacked, people started taking short positions. And finally, after the announcement of the project’s closure, short selling the token was literally like getting free money. Now this information of short positions held by people is known by Binance. Now, If the collateral provided to borrow a token to short sell it is not enough to offset the increase in price of said token, your collateral will be taken “liquidating” you to repay the loan. With a dead token like this, there shouldn’t be a possibility of it rising in price like that, right? Well, that’s only if you don’t consider that by stopping margin selling and subsequent forced liquidations, anyone with a lot of money and information can literally steal your money by artificially inflating the price; and this is exactly what happened. This poses next to no risk to the manipulator since the only people who can sell it are the ones actually holding the token and price cannot be brought down by short sellers. This means that even the people buying cover seconds after the pump hoping for a rise will keep getting dumped on and everyone will lose money except the manipulator. 2. The price pump is purposefully vertical in order to prevent people from providing more collateral in time to prevent their positions from being liquidated. I also held a short position which I took minutes after the news of the project shutting down. Since I knew that manipulations like this could happen, I set a price alert about halfway from the liquidation and index price. I had just fallen asleep and was literally saved by the bell because I didn’t silence my phone. I had to supply collateral which I did within seconds from being liquidated even tho I had over collateralised my loan. This makes me feel so bad for the people who weren’t so lucky. This incident probably won’t get much attention because barely anyone knew about this protocol and what came afterward. But it’s kind of amusing how blatant this manipulation is. COVER/BUSD went from a mere $1 million in trading volume to a $200M in seconds. If someone can bring attention to this please do so via social media.
No, COVER is a dead coin. Solana just played dead for a few hours. All I'm saying is that even if the prediction is correct from a technical standpoint, you still have this unpredictable market where a big chunk of investors don't even know what they are buying so everything can happen.
COVER is up 250% the last few days. But it's a dead coin and the devs have given up. But with your logic it is great token because it pumped? We're people wrong to tell other people not to buy a dead token simply because it pumped? I'd rather buy a good coin or token and wait for my gains than buy a piece of shit to chase the latest pump. But you do you.
COVER is seeing crazy price movement today.
The guys buying COVER are totally weird. It was announced on 8th September that Cover Protocol will be shut down lol
Ah nice, there seems to be a COVER pump and dump currently going on on binance. For everyone who doesn't know, they seized operation: https://twitter.com/CoverProtocol?s=09 DO NOT BUY IT!
Notifications about removal of HC, BRG, GEN, DMD, COVER, WINGS, SPOK, PROPS Dear Quinx users: To provide better investment options, Quinx periodically reviews listed digital currencies and removes projects and currency pairs that do not meet standards. And we decided to start removing currencies on September 1- Digital currencies that will be deleted this time HC, BRG, GEN, DMD, COVER, WINGS, SPOK, PROPS 2- Pairs of currencies that will be deleted this time HC / USDT, HC / BTC, BRG / USDT, BRG / BTC, GEN / USDT, GEN / BTC, DMD / USDT, DMD / BTC, COVER / USDT, WINGS / USDT, WINGS / BTC, SPOK / USDT, SPOK / BTC, PROPS / USDT
#THIS IS YOU POSTING COVER FOR SCAMS OVER AND OVER AND OVER AGAIN https://i.imgur.com/kGoP97S.jpg
#BETWEEN THE VOTE MANIPULATION AND YOU SPAMMING FOR COVER, THIS IS A SCAM. HERES A PIC AS PROOF https://i.imgur.com/KKUB4MD.jpg
[F for COVER](https://www.coindesk.com/business/2021/09/05/defi-projects-cover-ruler-are-shutting-down-after-development-team-exits/)
SafeMoon isnt safe and COVER isnt covered?! Who wouldda thunk it
It is with conflicted emotions that I announce the end of RULER & COVER Protocol,” said DeFi Ted today as he laid the troubled DeFi insurance project to rest. “The decision to do this did not come easy and is a final decision the remaining team made after reviewing the path forward, after the core developers suddenly left the projects,” Ted continued. He advised that customers withdraw funds from Cover protocols “asap.” If u guys have this token pls withdraw it fast
$COVER If you're thinking of buying the dip, research why that might be a bad idea. Looks like the protocol has been abandoned by the Devs. This was one I was looking to buy into, very relieved I didn't.
tldr; The RULER & COVER protocol has been shut down. The remaining treasury funds will be distributed evenly to token holders. This is effectively a "creditor payout". The UI will remain shutdown. "The future looks bright for the team that is left and I will be able to enlighten you all *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
13. Insure your stuff with any of the insurance protocols. BMI NXM INFI COVER etc
This is the perfect time for us to engage on platforms that have insurance protocols. BMI NXM COVER and BRIGHT are the good ones. imo
100% seems to good to be true but if yes, then that's great. I have been reading into defi insurances lately as well and didnt know they have aggregator just like 1inch. Maybe you can find answer there since they have many insurances that can offer including NXM, BMI, COVER, etc.
Watch it fanboys incomming. TAKE COVER BOYS
I am interested in the DeFi insurance field. Some of the players include NXM/wNXM, UNO, BMI, COVER
Lads look into crypto insurance with all those millions. I will get policies from whoever offers KYCless coverages for stablecoin wallets like BMI, NXM, INFI, COVER
For some to avoid hacking especially in crypto, there will be insurances on a mass scale level even though at the moment they are just developing everything to be ready for that mass adoption. My bet is on BMI but also INFI and COVER are good to watch
dear friend BAMBOO It's good to EXECUTE you again I hope you are doing FLOWER The holidays were amazing TRUMPET , we had a lot of OYSTER See you around, sincerely HARBOR PS: ICON, INDOOR,LEG,DONKEY, COVER, AWARE
Without sharing too much info I have plans B,C and D to cover a full lockdown but thanks for the tip. And to those of you reading this without a plan B, C and D... FOLLOW THE ADVICE OF u/29_cal AND COVER YOUR ARSE!
Well I've been looking a little at this industry that's emergin into crypto and there are many other protocols that can insure more than just smart-contracts. BMI, INFI, COVER to mention just a few. I was stuck at BMI because of the number of holders they have, which is more than any other protocol and around 12k now
TLDR ; ​ DONT BORROW MONEY TO SPEND ON CRYPTO UNLESS YOU CAN COVER THE DEBT
Those are all possibilities. Compound has been around for more than a year with no hacks, so it seems unlikely that there will be a hack. You can look into NXM and COVER for instance against hands and lots of funds.
True. But you know what is short selling right? And margin calls right? And leverage right? And all of that combined, brings the risk of a sistemic failure. Many hedge funds are at risk of default. So, if a crash is coming, shorts MUST COVER. MARGIN CALLS will be massive. I dont blame any of you for not believing in this, you probably haven't been doing 6 hours a day of research for 5 months now about this topic, I really dont blame you. But dont act like you actually know what is occuring on the backstage of financial markets if you havent been reading the SEC fillings that have been coming out since January. There is no better way to hedge your investments than buying few GME shares
Lmao you people really fall for invoices?? On a 'distillery' that doesn't even have a fucking address.....you're buying into someone for making rum....who's literally never made rum before AND NOW HAS TO BUY THE EQUIPMENT.........ON TOP OF LITERALLY NOT HAVING A BUILDING TO PUT IT IN.....ON TOP OF LITERALLY LYING ABOUT HAVING A BUILDING....ON TOP OF USING SOMEONE ELSES BUILDING TO COVER FOR THE FACT THAT THEY DON'T HAVE ONE WHICH IS A BLATANT LIE..... ​ Not to mention that it's literally a $200 bottle of rum...from someone who's literally never made rum before and now has to make it for the first time because he just ordered the equipment (assuming he actually did and he's not blatantly lying again like he has with the fact that he owns a building) ​ Yeah sounds fucking legit, let's not forget that there are literally ten million pictures on Google that you can pull invoices out of.
Buy if Thursday if you decide to- ALL SHORTS MUST COVER & the market dips hard
COVER YOUR MARGINS AND POTENTIAL LOSSES dont get liquidated as ill buy all the coins going cheap in any firesale
They are a thing. COVER (ETH) and HELMET (Binance Smart Chain) are two examples
Yup COVER and nexus mutual
What about defi insurances that provides coverage to the platform that are vulnerable for exploitation for instance NEXUS MUTUAL, BRIDGE MUTUAL, INSURED FINANCE, POLKA COVER! ?
This seems like someone trying to use a sob story to COVER UP THEY ARE PUSHING A SCAM ! ⚠️⚠️⚠️
What about insurance coins like BMI, INFI, COVER, UNN? Thoughts for long term?
Defi insurance is a must especially they're solving real problems. BMI will launch their MVP this year. Not so sure for COVER and other insurances.
Tsk. People fall into short term gains ended up a waste of money. We need our digital assets to be protected by insurance project like INFI, NEXUS, BMI, UNN, COVER and other insurances out there.
Who bought an insurance tokens today like NEXUS, BMI, INFI, COVER? And why did you buy instead of another alts to choose? Do you like the insurance platform?
BITCOIN AND EBANG TO THE STARS !! FACT 1: on 04/08/2021 4.5 million short positions were abandoned and on 04/09/2021 another 581,763 were abandoned. FACT 2: The allegations are neither evidence nor substantive. HINDENBURG has allegations, and those allegations are not directed at EBANG, they are all pointing to other companies that EBANG would have met in the past ... Why don't they accuse EBANG directly !? strange huh. FACT 4: As of 04/09/2021, only the top 2 companies that are shorting on EBANG have a Stock Short Volume ratio (NUMBER OF DAYS LEFT TO COVER THEIR SHORT POSITION) is 1 trading day. FACT 5: Big names like BLACKROCK, INVESCO, FIDELITY NASDAQ AND GOLDMAN SACH still own EBANG. COINBASE IPO which will increase all cryptocurrencies and miners like EBANG
https://u.today/former-sec-boss-who-sued-ripple-becomes-chairman-of-major-asset-management-firm WHAT, REALLY? YOU MEAN THE ELITE COVER EACH OTHER. FUCKING SHOCKED. Not really shocked. Not even a little bit. As a matter of fact, I'm more shocked that my doo doo doesn't wipe off after 3 swipes.
Yup! Saw their 2:1 ratio and i think that makes sense to hold INFI. BMI holders has successfully touched 10,800 holders while INFI is close to 5000 holders. These two were doing great. INFI has new project for private sale allocation for insiders. I wonder what happened to CVR and COVER.
Trying to catch the knife on COVER at 600, will it ever come back up ?
Yes, i trust a lot on Binance and maybe people will kill me for saying this in here! But we have already seen a hack to them, they have their SAFU fund, after that hack they implemented more security, and also growing more the SAFU fund, they even helped those afected by COVER protocol exploit, when they didnt needed to. They also have a lot of revenue to cover eventual loses. I mean im more worried about what will happened if CZ dies than if theres another 40mm hack. Others exchanges also have been hacked these past years and they still here, we havent seen a big one having a MtGox event again.
Great question, so many interesting and innovative things happening in DeFi. Hard to choose just three. I think $COVER and $DIP decentralized insurance is something that is greatly needed. I'm also following $LINK, $AAVE, $ADA, $BNB, $ZRX, $UNI, $SUSHI, $1INCH for their innovative work with decentralized oracles, lending markets, interest-bearing coins, cross-chain bridges and decentralized exchange platforms. Not financial advice, just tokens and blockchains I find highly interesting.
Probably LIT, VET, MATIC, SFP, TOMO, COVER, BAKE, etc. Smaller alts.
Yes. Cross chain transfer cost approx $10-20 and in the last demo, Andre did it in less than a doller and guess which chain he is using to build the protocol, FTM. On top of the COVER is integrating with Fantom, Curve and Api3 is integrating to Fantom and not to mention their Afgan partnership.
Hey sheeshershwingshwa what's up Edit: MY COVER IS BLOWN
COVER Protocol and Keep3r deployed on the Fantom Opera chain today. DYOR on the most undervalued L1 chain in the business before it goes to $1.
COVER THE WEBCAMS I REPEAT, COVER YOUR WEBCAM!!! Sorry for shouting, guy over on hw wallet sub wrote his seed down and his sister had installed some shitty game app. Turns out they were watching. That's the theory anyway, not confirmed.
With all the dip everywhere. $COVER is still standing tall. Just imagine what would happen to the price of cover when V2 gets released soon. I've been feeling my bags. Don't miss this golden opportunity.