# OpenCover > Keeping you safe onchain OpenCover is a DeFi cover platform that lets users purchase protection against smart contract hacks, stablecoin depegs, and other onchain risks. OpenCover is a decentralized finance cover platform that connects individuals and institutions with vetted onchain underwriters to protect digital asset portfolios. Users can purchase protocol cover, stablecoin depeg cover, yield token cover, and custody cover across multiple chains, with coverage represented by ERC-721 proof-of-cover tokens. The platform serves both retail users and institutional clients seeking to mitigate losses from smart contract exploits, oracle manipulation, and governance attacks. Cover is sourced from established underwriting partners rather than issued directly by OpenCover, with terms set by each underwriting provider. The platform also operates an industry data service tracking DeFi cover provider activity and market coverage across several blockchains, giving visibility into how much onchain value is protected and by whom. A flagship addition, Covered Vaults, is a vault-native risk transfer primitive built on an extended ERC-7540 standard that lets depositors toggle protection on tokenized vault positions without lockups, with premiums streamed from yield. It integrates with existing vault infrastructure rather than replacing it, and is used by vault providers, asset managers, and fintechs alongside individual depositors. OpenCover is used by DeFi participants seeking portfolio protection, institutions requiring bespoke coverage, and vault operators embedding risk transfer into their products. - Type: Company - Sector: Insurance - Status: Active - Founded: 2021-01-01 - Profile: https://thegrid.id/profiles/opencover ## Products - [OpenCover](https://thegrid.id/profiles/opencover): OpenCover is an onchain insurance platform that lets users purchase and manage cover policies against DeFi risks such as smart contract exploits, oracle manipulation, governance attacks and stablecoin depegs. Policies are issued as ERC-721 NFTs to a user's wallet and are sourced from vetted third-party underwriters across multiple EVM-compatible chains. Individuals and institutions can compare cover options and buy protection for their portfolios without KYC. (Onchain Insurance, Live, Main Product) - [Covered Vaults](https://thegrid.id/profiles/opencover): Covered Vaults is a vault-native risk transfer product that lets DeFi vault depositors activate cover by staking their vault shares, with premiums streaming directly from yield and coverage renewing automatically. It extends the ERC-4626 tokenized vault standard through an extended ERC-7540 interface, allowing any compatible vault to become coverable without changing its deposit flow or underlying protocol. Underwriting is provided by a third-party mutual with onchain proof of solvency, and the product is accessible through its own reference interface across multiple chains and vault strategies. (Onchain Insurance, Live) - [OpenCover Data](https://thegrid.id/profiles/opencover): OpenCover Data is a public dashboard that aggregates onchain cover market data. It presents total value locked, active cover amounts, underwriting capital, premiums, claims and payouts side by side across multiple DeFi cover providers and the chains they operate on. Anyone can browse and compare providers without an account or a connected wallet, supporting research before purchasing cover. (OnChain Data API, Live) ## Links - [Main](https://opencover.com) - [Media Kit/branding](https://opencover.notion.site/OpenCover-media-kit-41bd2e8317ed49dfb7f1b857cf90d4e3?pvs=4) - [Terms of Service](https://opencover.com/terms) - [Privacy policy](https://opencover.com/privacy) - [Discord](https://x.com/OpenCover) - [Discord](https://discord.com/invite/zKY2rTRUGN) - [LinkedIn](https://linkedin.com/company/opencover) - [Substack](https://opencover.substack.com) - [Twitter / X](https://x.com/OpenCoverDefi) - [Twitter / X](https://x.com/OpenCover) ## Legal This data is provided under two licensing models. Model 1 - open data. 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