Bridge Cover

Cover Scope

Protects against the following claimable risk events:

• Loss of tokens in transit to bridge malfunction, hack, or vulnerability exploits

• Loss of tokens in transit to an error in slippage reported by bridge and/or DEX for tokens received at bridge or DEX on the destination chain

Tokens are in transit from the moment the transaction is executed on the source chain, till the moment it is finalized on the destination chain.

Loss is determined by:

• On-chain data of expected amount to be received at bridge or DEX on destination chain as initially recorded and signed on source chain. Also recorded as a cover amount at the bridge cover portal.

• On-chain data of the actual amount received

• The daily average market price of lost tokens in $USDC at the time of transaction signing

• Limit cap set by cover amount

Cover period:

• Cover only applies to transactions signed on the source chain

• Starts when the transaction is signed on the source chain

• Ends when said transaction terminates or a claimable risk event occurs

Exclusions that apply:

• any transaction signed on the destination chain

• any assets of widely blacklisted wallets and marked by illegality

• any cover purchased from excluded jurisdictions according to the Terms of Use

• any non-fungible token

• loss due to carelessness, misunderstanding, improper usage, omission or misuse by the claimant

• loss due to movements in the market price of the asset

• loss due to rug pulls

• loss due to vulnerabilities, bugs, or other issues made public before transaction execution

• loss due to changes or failures in the safety or liveness properties of the underlying blockchain

• loss due to collateral damage from a claimable risk event

• loss due to administrative, gas, transaction fees, or expenses incurred in executing the transaction

Disclaimer

• This cover is not a contract of insurance. It offers discretionary protection with the Advisory Board having full and final discretion on claim and cover payout approval.

• Pramb is not licensed or regulated by any regulator.

• Completion of any cover payout is determined by the sufficiency of assets in the Bridge Cover Fund over the course of 14 consecutive days from an initial partial cover payout of a claimable risk event.