📄️ Claims History
Because Creed Crypto is a discretionary mutual, the cover products members purchase are not the same as traditional insurance policies. When a member who holds cover suffers a material loss, they can submit their claim and go through the Claims Assessment process. Members who have staked CREED can participate as claim assessors. Claim assessors review submitted claims, discuss claims, and vote on whether or not to accept claims.
📄️ bZx hack | February 2020
There is a full post-mortem of this loss event and the claim payouts in the bZx flash loan event Medium post.
📄️ Yearn yDAI Hack | February 2021
A total of $2,317,776.72 was paid out to Yearn Finance Smart Contract Cover holders. Smart Contract Cover has since been deprecated and replaced by Protocol Cover, an updated cover product that protects against more risks in DeFi.
📄️ CREAM V1 Economic Exploit | October 2021
There is a full post-mortem of this loss event and the claim payouts in the Paying claims for the CREAM V1 exploit Medium post. Details of this event are also included below.
📄️ TribeDAO, Rari Capital Fuse Market Hack | April 2022
Total Claim Payouts
📄️ Perpetual Protocol v1 Economic Design Failure | May 2022
Total Claim Payouts
📄️ Hodlnaut Halted Withdrawals | August 2022
Total claims paid
📄️ FTX Halted Withdrawals | November 2022
Total claims paid
📄️ BlockFi Halted Withdrawals | November 2022
Total claims paid
📄️ Euler Finance Exploit | March 2023
Total claims paid