OpenCover to Expand to Solana, Initially Covering Four Major Protocols Including Kamino and Raydium

BlockBeats news, September 10: On-chain risk protection platform OpenCover announced the expansion of institutional-grade risk protection to the Solana network. Eligible related positions can now obtain risk protection, with the first batch covering Kamino, Raydium, Orca, and Jupiter. The specific coverage scope, limits, and terms vary by protocol and position. OpenCover primarily provides on-chain risk protection for DeFi users and connects users with underwriters such as Nexus Mutual.

Following this expansion, Solana ecosystem users can also purchase related protection against risks such as smart contract vulnerabilities, oracle failures or manipulation, liquidation failures, and governance attacks. According to a previous announcement by Nexus Mutual, it has currently launched four protection projects on Solana—Kamino, Raydium, Orca, and Jupiter—covering nearly 90% of the funds in Solana's lending market. Among them, Kamino and Jupiter have over $1 billion and $925 million in lending deposits, respectively. OpenCover stated that this launch is the starting point for its further expansion of risk transfer infrastructure on Solana, and it will subsequently collaborate with protocols, asset management institutions, and liquidity providers to expand the range of positions eligible for protection.