Insurance Program Cover Announces Discontinuation of Operations, Remaining Funds Split Evenly Among $Cover Holders

TokenInsight news, due to the departure of the development team, Cover Protocol, a DeFi insurance project, and Ruler, a lending protocol, which belong to the same development team, announced that they will cease operations and will no longer maintain the project contracts and pages. The project will be snapshotted at the Ether block height of 13162680, and $Cover and $Ruler holders will equally distribute the remaining funds in the pool. In addition, the tokens held by the project team will not be counted as part of the allocation, and the project will remind users to withdraw funds from the contract in a timely manner.