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Cover

A Level USD Crypto Cover claim is valid if Level USD suffers a 10% depeg for 7 consecutive days or more.To submit a claim a user must swap Level USD (or equivalent in any approved Level USD derivative noted in the annex) for 97.5% of its Reference Value if such a depeg event were to occur.
Max:
days

Overview

Listing
lvlUSD-depeg.jpg logo
Level USD Depeg
Cover Amount
1USDC
Cover Period
8/17/2025 - 9/16/2025
Annual Fee
3.34%
Cover Cost
0.0027
You must connect your wallet to buy cover

Terms & conditions

Crypto Cover offers protection based on the cover terms outlined in Part A, B, and/or C. Please see the annex document for which parts apply to this listing.

  • Part A: Custody Cover protects against a loss of funds due to
    • Crime-related loss
    • Extended withdrawal restriction loss (100 days or more)
  • Part B: Protocol Cover protects against a loss of funds due to
    • Smart contract hacks/exploits
    • Severe oracle failure/manipulation
    • Severe liquidation failure
    • Governance attacks
  • Part C: Depeg Cover protects against a loss of value due to
    • A depeg event that occurs for a specified period of time as outlined in the annex document
  • Part D: Slashing Cover protects against slashing and penalties incurred
    • across all Covered Validators that exceed the Deductible within any continuous 40 day period
    • by Native Token Stakers exceed the Deductible within any continuous 40 day period

Cover Chains

Protects assets deposited in the Designated Protocol on all EVM-compatible chains. See DefiLlama for a complete list.

Crypto Cover exclusions

To see the exclusions that apply to Part A, B, C and D, please refer to the complete cover wording

Deductible

Filing a Claim

  • Pays a claim up to the covered amount less the deductible if a covered event occurs
  • You need to let the Cool Down Period pass after a covered event occurs before filing a claim
  • If your cover was active when the covered event occurred, you can file a claim during the active cover period or during the Grace Period
This cover is not a contract of insurance. Cover is provided on a discretionary basis with Nexus Mutual members having the final say on which claims are paid. Read the complete cover wording here.
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