DeFi hacks and security breaches in the crypto space have been increasing in the recent days. This topic aims to discuss the opportunity for Pickle to provide incentives to participate in Cover’s shield mining.
Cover Protocol [COVER]
Cover Protocol is a protocol that is focused on protecting and covering the DeFi community in the unfortunate event of a hack, bug, exploit and or economic manipulation attack. The coverage does not require KYC, is fungible, infinitely scalable and the price of coverage is determined by the market.
To allow Pickle Treasury to allocate a portion of the funds towards the Cover reward mining and thus making the CLAIM and NOCLAIM coverage price as affordable as possible. DeFi users of Pickle Protocol will then have the opportunity get cheap coverage to stay protected.
We are planning to start small and progressively top-up should there be demand for coverage. We are proposing to spend $25k to $100k worth of Pickles a month to incentivize Pickle coverage on Cover reward mining.
A monthly recurring payments of $25,000 will get us around $625,000 coverage over a year.
A monthly recurring payments of $50,000 will get us around $1,250,000 coverage over a year.
A monthly recurring payments of $100,000 will get us around $2,500,000 coverage over a year.
Please let us know your inputs below:
- $25,000 worth of Pickles
- $50,000 worth of Pickles
- $100,000 worth of Pickles
- Do nothing