what's cove?
Cove is a decentralized finance (DeFi) protocol built on Ethereum, focused on delivering optimized and secure yield generation for users through diversified baskets of blue-chip assets. It emphasizes precision in pricing and execution by integrating multiple high-quality oracle sources, including Pyth Network, Chainlink, and Curve Finance. This multi-oracle system cross-verifies data in real-time to detect anomalies, prevent manipulation, and maintain accurate valuations for all protocol operations. To ensure efficient and protected trades, Cove routes external executions through CoW Swap's batch auctions, which minimize maximal extractable value (MEV) risks and slippage while securing the best possible prices. This setup supports seamless rebalancing of asset baskets and user withdrawals, creating a robust infrastructure for yield farming without compromising on security or user outcomes. Governance in Cove is community-driven, with $COVE token holders participating in key decisions via platforms like Snapshot. The protocol also prioritizes security enhancements, such as adopting agreements like the SEAL WhiteHat Safe Harbor, which enables ethical interventions during potential exploits to safeguard user funds and smart contracts.
Cove launched on Base Jan 8, 2026, as the first expansion beyond Ethereum mainnet.
contract
ethereum
Launched on Base as the first expansion beyond Ethereum mainnet on January 8, 2026.
Unaffected by Balancer exploit as listed assets do not use Balancer pools, user funds confirmed safe.
Adopted SEAL WhiteHat Safe Harbor, allowing ethical hackers to legally intervene during active exploits to protect user funds.
Project responds to npm supply-chain attack by auditing systems, confirming frontends are secure, and implementing deployment pause as precautionary measure.
Gauntlet partnership revealed with implementation of automated daily basket rebalancing engine for yield optimization.
Becomes first production deployment of ApeFramework with security validation from three major audit firms.
Upcoming integration with Bunni and Angstrom DEX protocols on Uniswap v4 platform announced.
New integrations with 0xfluid and ApeFramework enable automated liquidity sourcing through CoWSwap batch auctions.
Protocol leverages CoWSwap batch auctions for TradFi-focused structured products with LVR features and positive slippage capture.
Critical reentrancy vulnerability in liquidity mining program neutralized with no user funds lost; 652,565 COVE tokens secured as precaution.
Institutional-grade strategies curated by Gauntlet offer up to 8.08% APY on coveUSD with additional token rewards, featuring zero cross-chain risk exposure.
Protocol reaches $5M TVL within first week of operations.
Platform launches with 8.08% APY yield offering and partnerships with 10 major DeFi protocols.
Launches Boosties, first liquid locker and staking platform for Yearn Finance v3, enabling boosted vault yields.
Automatic claiming feature activated for protocol, eliminating manual claim process.
COVE rewards deployment begins following successful protocol launch and rebalancing
Former Trail of Bits engineering director engaged for end-to-end security assessment of protocol and offchain automation.