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.
Ultimately, these votes are decided by members who stake CREED. There is usually a community discussion in the Creed Crypto Discord server, where members share their expertise on an event and share information.
Claims paid to date
Members of the Creed have paid out $18M+ to cover holders who suffered a loss due to past exploits, technical failures, and halted withdrawals on centralized custodians.
| Year | Total Claims Paid (in USD) |
|---|---|
| 2020 | $33,720.10 |
| 2021 | $2,716,958.11 |
| 2022 | $6,615,394.75 |
| 2023 | $8,883,212.99 |
| 2024 | $6,895.07 |
| Total | $18,256,181.02 |
Auditing, reviewing past claims
For stats on claims, you can review the Claims Dune dashboard and the claims section in the Creed Crypto user interface. Numerous claims have been submitted by users testing the system.
You can review the Creed's claims history on the Creed Crypto DAO website, where you will find the summary, outcome, and other information about each claim request that has been filed.
In the following sections, we outline past claims events and review the claim outcomes.