OpenCover will expand to Solana: the first batch covers four major protocols including Kamino and Raydium

The on-chain risk protection platform OpenCover announced the expansion of institutional-level risk protection to the Solana network, allowing eligible related positions to obtain risk protection. The first batch covers Kamino, Raydium, Orca, and Jupiter, with specific coverage scope, limits, and terms varying by protocol and position. OpenCover primarily provides on-chain risk protection for DeFi users and connects users with underwriters such as Nexus Mutual.

After this expansion, Solana ecosystem users can purchase relevant protection against risks such as smart contract vulnerabilities, oracle failures or manipulations, liquidation failures, and governance attacks. According to a previous announcement from Nexus Mutual, it has currently launched four protection projects on Solana: Kamino, Raydium, Orca, and Jupiter, covering nearly 90% of the funds in the Solana 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 further expanding risk transfer infrastructure on Solana, and it will cooperate with protocols, asset management institutions, and liquidity providers to broaden the range of positions eligible for protection.