Nov 24, 2020
Claim Assessment for Pickle Finance as a CVC member of COVER Protocol
Haechi Audit participated in decision making process on the Claim for Pickle Finance.
What is Cover Protocol & CVC ?
Cover Protocol is a P2P coverage marketplace for the smart contract and DeFi industry, allowing the market to set coverage prices for any smart contract risk. When a smart contract are exploited or user funds are lost, the coverage holder is able to submit a claim for payout.
For making a decision of payout, COVER token holders vote to decide whether the claim is valid or not. If the vote concludes that the claim is valid, the members of CVC(Claim Validity Committee) assess the claim by looking over the smart contract and reviewing the exploit.
Several auditors and audit companies are participating in CVC. 4 out of the 7 auditors must agree on the validity of the claim and payout percentage up to 100%.
Haechi Audit joined this CVC to contribute to supplying stability to the smart contract ecosystem.
CVC’s decision on the claim for Pickle Finance
Haechi Audit posted our statement for the claim for Pickle Finance Exploit.
Before we submit the statement, 4 out of the 7 CVC members have already transferred the sign for validation. As a result, the claim was validated by CVC members. CLAIM holders for Pickle Finance will be paid out their claim payments.
CVC members decided to set the payout rate to 100%. In 2 days, the redemption will be available. You could see more information in this tweet.
HAECHI AUDIT Official website: https://audit.haechi.io/
HAECHI AUDIT Twitter: https://twitter.com/haechi_audit
About HAECHI AUDIT
It is HAECHI AUDIT’s mission to help clients develop secure smart contracts by providing the most trustworthy security auditing services.
HAECHI AUDIT is a top smart contract security audit firm consists of blockchain professionals. We provide the most secure smart contract security audit and smart contract development services to our global clients.
So far, based on the HAECHI AUDIT’s security audit report, our clients have successfully listed on the global cryptocurrency exchanges such as Huobi, Upbit, OKEX, and others.
Trusted by the industry leaders, we have been incubated by the Samsung Electronics and awarded the Ethereum Foundation Grants and Ethereum Community Fund.
Secure your smart contracts with HAECHI AUDIT.
Contact : audit@haechi.io
