BTC $81,062.42 -3.73%
ETH $2,381.71 -3.89%
BNB $729.75 -2.50%
XRP $1.31 -4.47%
SOL $103.46 -3.48%
TRX $0.3283 -0.69%
DOGE $0.0786 -4.15%
ADA $0.2115 -6.36%
BCH $274.52 -4.34%
LINK $11.93 -5.03%
HYPE $77.39 -4.39%
AAVE $146.46 -5.92%
SUI $0.9705 -6.07%
XLM $0.1747 -5.03%
ZEC $1,215.76 -8.36%
AAPL $348.82 +1.43%
AMZN $251.47 -3.91%
GOOGL $325.26 -2.50%
MSFT $522.25 -1.66%
META $647.97 -9.16%
NVDA $212.92 -3.30%
TSLA $375.09 -0.09%
SNDK $1,241.89 -8.93%
INTC $85.15 -6.65%
SPCX $146.97 -6.60%
MU $850.10 -5.95%
AMD $508.17 -6.47%
BTC $81,062.42 -3.73%
ETH $2,381.71 -3.89%
BNB $729.75 -2.50%
XRP $1.31 -4.47%
SOL $103.46 -3.48%
TRX $0.3283 -0.69%
DOGE $0.0786 -4.15%
ADA $0.2115 -6.36%
BCH $274.52 -4.34%
LINK $11.93 -5.03%
HYPE $77.39 -4.39%
AAVE $146.46 -5.92%
SUI $0.9705 -6.07%
XLM $0.1747 -5.03%
ZEC $1,215.76 -8.36%
AAPL $348.82 +1.43%
AMZN $251.47 -3.91%
GOOGL $325.26 -2.50%
MSFT $522.25 -1.66%
META $647.97 -9.16%
NVDA $212.92 -3.30%
TSLA $375.09 -0.09%
SNDK $1,241.89 -8.93%
INTC $85.15 -6.65%
SPCX $146.97 -6.60%
MU $850.10 -5.95%
AMD $508.17 -6.47%

kra

All
Article
Flash

first_img Firelight adds $30.5 million on-chain collateral for Kraken USDC treasury

According to The Defiant, the on-chain insurance protocol Firelight based on the Flare network announced on October 15 that its on-chain insurance has launched the Protected Strategies USDC vault for Kraken DeFi Earn, providing a collateral-backed compensation mechanism for specific protocol failures.The independent manager of the vault, Sentora, insures the vault rather than Kraken itself. Depositors do not need to actively choose to participate, but the insurance comes with conditions: Kraken discloses that the compensation limit for each deposit address during each insurance period is $100,000, and the total compensation amount is also constrained by the overall vault limit and available capital. Compensation is issued by Sentora in USDC to eligible wallets, and Kraken does not provide funds or guarantees.Firelight lists six types of failures that are eligible for compensation: smart contract vulnerabilities, oracle failures, governance attacks, and bad debts, depegging, or redemption failures caused by protocol mechanism failures. Insurance only applies to markets and positions recorded during the insurance period. Normal fluctuations, normal liquidations, depegging that operates as designed during redemption, and withdrawal delays caused by high organic utilization are excluded; insider theft, stolen private keys, phishing, and regulatory actions are also not covered.The trigger conditions for redemption failure are if the insured position cannot be withdrawn for more than 72 consecutive hours, or if the amount returned after deducting disclosed fees is less than 90% of fair value. Compensation does not require depositors to file claims themselves, as it is determined by a five-member risk committee through a three-fifths majority vote.On-chain records show that the insurance scale marked as "Kraken DeFi Protected" is $30.5 million.

first_img Evernorth partners with Ripple, Kraken, Coinbase, and BitGo to deploy a $648 million XRP treasury

According to The Block, Evernorth, which holds an XRP treasury and is listed on Nasdaq, announced that it will begin deploying its XRP holdings through an "institutional strategy" starting in the fourth quarter, with initial partners including Ripple and cryptocurrency exchanges Kraken, Coinbase, and BitGo.The company currently holds 473 million XRP, valued at approximately $648 million at current prices. Two days before this announcement, Evernorth began trading on Nasdaq under the ticker XRPN after completing a deSPAC merger with Armada Acquisition Corp. II.Founder and CEO Asheesh Birla stated that the company is putting its treasury to work and is choosing to start with strong institutional trading counterparts within the industry. Evernorth's goal is to generate returns from its XRP holdings and increase the per-share holdings, rather than simply pursuing accumulation; the announcement did not specify how much XRP will be deployed. The company also plans to expand into lending and on-chain DeFi strategies once relevant features on the XRP Ledger are available.This strategy is led by newly appointed Chief Investment Officer Hugo Jeandesboz, who previously served as Co-Chief Investment Officer at Coinbase Asset Management. Jeandesboz stated that this requires a set of treasury strategies, a risk framework, and counterparties that can be clearly explained to the board of directors of the listed company. The XRPN stock price has remained relatively flat since opening at $16.68 on Monday, closing at $16.48 on Tuesday, and slightly rising to $16.6 in after-hours trading.
app_icon
ChainCatcher Building the Web3 world with innovations.