An innovative solution offering compensation for token losses incurred during a specified bridge transaction due to malfunctions, hacks, vulnerability exploits, or slippage errors reported by DEXes and/or the specified bridge.
Our compensation is capped at the lower of the Claimable Loss or Cover Amount. Any reimbursements received from third parties or recovery of digital assets will be subtracted from the Cover Payout or utilized for reimbursing the Protocol. Rest assured, we prioritize transparency and fairness.
To ensure prompt processing, users have to submit their claims within 7 days of a Claimable Risk Event.
Remember to include vital Proof of Loss documents, such as Cover Purchase Address, Cover ID, Source Chain Transaction ID, and relevant on-chain transactions, within 7 days of submitting the claim. We value efficiency and accuracy in handling your claims.
Exclusions: Our cover does not extend to losses resulting from blacklisted wallets, transactions signed on the destination chain, carelessness, market price fluctuations, vulnerabilities disclosed prior, underlying blockchain failures, or collateral damage. We strive for comprehensive protection while maintaining clarity and fairness.
Termination: Our cover is automatically terminated upon the happening of a Claimable Risk Event or the termination of the Specified Bridge Transaction.
In the event of transaction cancellation, the tokens of the Cover Purchaser remain unaffected, and the contribution is promptly refunded. We prioritize the security of your investments and provide transparent termination policies.
User Acknowledgements: By utilizing our services, users are expected to adhere to relevant laws, possess legal authority over digital tokens, and understand that the Protocol is not licensed or regulated by any governing body. It’s important to note that the cover provided is discretionary and not a formal insurance contract. We prioritize transparency and user awareness in our operations.
CheckDot’s Bridge Cover represents a significant milestone in the #DeFi landscape, offering vital protection to users against risks linked to cross-chain transactions.
It is imperative for users to familiarize themselves with the terms, exclusions, and their own responsibilities.
Embarking on our new DeFi insurance journey, we are thrilled to provide protection for renowned bridges like O3swap, Multichain, Celer Network, and Changelly.
Effortlessly bridge your tokens and experience peace of mind by safeguarding your transactions with CheckDot.
Join us in securing your DeFi endeavors!
STAY SAFE! USE CHECKDOT!
CheckDot Application: app.checkdot.io
CheckDot Earn: app.checkdot.io/earn
Jeremy, CheckDot CEO.
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For more information on CheckDot follow us on social networks:
Telegram: https://t.me/checkdot
Instagram: https://www.instagram.com/checkdot_protocol
Twitter: https://twitter.com/Checkdot_proto
Website: https://checkdot.io
#DeFiInsurance #TokenProtection #BridgeCoverage
