Cover Protocol (SAFE) The Cover Protocol (SAFE) will allow users to buy and sell cover on anything, all on a completely decentralized and scalable platform. The unique model has no platform depth limits, allowing even platforms like Curve and Aave with billions of TVLs to have meaningful reach.
Contents:
Description of the Cover Protocol (SAFE) project
To get a new control token (COVER), the developers are implementing what is called “Shield Farming”. Shield Farming allows members to process coverage management tokens, based on their net risk exposure on the platform.
Steps to migrate from $ SAFE to $ SAFE 2:
- Make sure you have collected all $ SAFE and your full $ SAFE balance is in your wallet.
- Go to yieldfarming.insure.
- Select the "Migrate SAFE to SAFE2" field.
- You will see the balances of your $ SAFE and $ SAFE 2.
- Click the button "Migrate to" X "SAFE2".
- Approve $ SAFE for the migration contract.
Once approved, click the Migrate X SAFE button to the X SAFE2 button and complete the transaction. You will see the balances of your $ SAFE (make sure you have the full amount) and $ SAFE 2 (0 for now).
To see the $ SAFE 2 token in your wallet (i.e. MetaMask), you may need to add a custom token for $ SAFE 2 manually.
Farmer consulting:
| Firstly | If you are in pools 1-3, no action is required. However, after the migration, the safe tokens, which you process, will not be eligible for the $ SAFE2 migration. |
| Secondly | If you are in pool 4 (DAI / SAFE 98/2), stop providing liquidity as soon as possible and transfer $ SAFE as instructed above. |
| Thirdly | If you provide liquidity in any other DEX (Uniswap), please stop providing liquidity as soon as possible and transfer your $ SAFE. |
Any yNFT coverage that remains active can be traded on the secondary market. You can sell your yNFT coverage on Rarible, OpenSea, etc.
Additional information
At the moment, White Paper and RoadMap are not available on the site. The developers provide only an article on the Medium The blog also has other posts that talk about the features of the project. If you want to stay up to date with all innovations, subscribe to the community on the following social networks:
- twitter;
- telegram;
- discord.