Old Tokenomics

The following tokenomics are no longer in place. Please view this page for the current tokenomics

(OLD) COVER to (NEW) COVER Migration

Started on Jan 4th 2021

  1. 1 SAFE = 0.9 COVER (new) - Only SAFE held prior to Oct 1st 12:00AM UTC is eligible

  2. 1 SAFE2 = 1 COVER (new)

  3. 1 COVER (old) = 1 COVER (new) - Please refer to the compensation plan in the Medium post regarding the snapshot Reference: https://coverprotocol.medium.com/new-cover-token-launch-19f421cb507d

SAFE2 to COVER Migration

  • The SAFE2 migration to (NEW) COVER tokens will start on 11/20/2020.

  • There will be no deadline to claim and you will receive all COVER tokens at once, there will be no vesting period.

  • 1 SAFE2 will be migrated to 1 (NEW) COVER.

Those Who Missed the SAFE2 Migration

Decided using our community polls:

  • 1 SAFE at snapshot (12 am 10/01/2020 UTC) will be migrated to 0.9 (NEW) COVER.

  • Unclaimed SAFE from pool 3 (wNXM pool) which will be migrated as 1 SAFE to 0.9 (NEW) COVER, only for those who did not claim any of their farmed SAFE prior to 10/01/2020 UTC.

  • There will be no deadline to claim and you will receive all eligible COVER tokens at once, there will be no vesting period.

Notes on governance for tokenomics

We are creating a revolutionary product that will have a lasting impact on DeFi and the crypto community. The new tokenomics are designed to ensure the future success of the protocol while also keeping early supporters in mind. Expect more news to come soon. We count on your continuous support as COVER moves forward.