Cap has always made security at top priority. Now you can too. That’s why we partnered with OpenCover to offer Nexus Mutual coverage directly on our UI. Just by checking a box, users can opt into having coverage against Cap smart contracts, cUSD depeg, and Cap Pendle Markets. As onchain finance onboards a new class of practically-minded users, they will be looking for practically-minded risk mitigations as well.

What is OpenCover?

Onchain finance has no shortage of opportunity, but history has shown that billions have been lost every year to exploits, protocol failures, and governance attacks. OpenCover exists to manage and mitigate those risks so users can sleep easy.

By working with established underwriters, OpenCover enables individuals and institutions to protect themselves against onchain risks through transparent, configurable coverage. OpenCover extends the philosophy of “your coins, your coins” to now providing agency to risk mitigation. OpenCover steps up where it matters most, supporting users through the claims process and facilitating fast, real payouts. This focus is central to OpenCover’s role in making onchain finance safer at scale.

What is Nexus Mutual

Nexus Mutual is one of the longest-running and most battle-tested coverafe primitives in crypto. Structured as a member-owned risk pool, it underwrites smart contract and protocol risk using pooled capital provided by its members. Coverage decisions, pricing, and claims are governed transparently by the protocol, rather than by a centralized insurer.

This model matters. Unlike discretionary or opaque coverage products, Nexus Mutual aligns incentives between capital providers and coverage buyers. Risk is priced based on market demand and underwriting capacity, claims are assessed against clearly defined conditions, and payouts are executed onchain when approved. The result is coverage that behaves more like infrastructure than a promise.

OpenCover makes this system usable. Instead of requiring users to navigate Nexus Mutual directly by managing memberships, approvals, and complex configuration. Through this, OpenCover packages coverage into a simple, composable interface that can be embedded directly into applications like Cap. Through this integration, Cap users gain access to Nexus Mutual’s risk pool natively without needing to alter their behavior.

How are OpenCover and Nexus Mutual Integrating into Cap

OpenCover is integrated directly into Cap’s transaction flow.

When a user mints cUSD, stakes into stcUSD, or enters Pendle PT/YT positions of cUSD or stcUSD, they can add coverage in the same transaction. There is no separate dashboard, approval flow, or follow-up action required.

Behind the scenes, Cap routes the coverage request through OpenCover, which sources protection from Nexus Mutual. Coverage is issued atomically alongside the user’s primary action, meaning users are insured from the moment their position is created.

This integration supports three coverage categories:

• Protocol Cover – Protection against smart contract failures or exploits affecting Cap contracts

• cUSD Depeg Cover – Protection against a sustained deviation of cUSD from its USD peg

• Pendle Market Cover – Protection for Pendle PTs and YTs associated with Cap markets

Coverage terms are explicit and configurable. Users select:

• Coverage amount

• Coverage duration (30–180 days)

• Corresponding premium, quoted transparently before execution

Once executed, coverage is live immediately and managed through OpenCover, while the core asset position remains native to Cap. This separation ensures Cap remains focused on credit and yield, while risk is handled by specialized underwriters.

The result is a single, coherent flow: capital deployment and risk mitigation happen together, by default, without added complexity.

How-To Add OpenCover Coverage

1. Go to https://cap.app/swap

2. In “To”, select which product you would like

3. Click on “Buy Cover”

4. Select the coverage you want

5. Choose your coverage amount and duration to generate a fee

6. Click “Swap and Buy Cover” to complete the transaction

7. Users can acquire additional plans after

Conclusion

As onchain finance matures, the next wave of adoption won’t be driven by higher yields alone but rather it will be driven by clearer risk boundaries, explicit guarantees, and tools that resemble real financial infrastructure. Coverage is not a nice to have in this world, it’s a requirement. By integrating OpenCover directly into the Cap UI, users gain the ability to price, select, and enforce protection.

This partnership reflects Cap’s broader philosophy of security and self-sovereignty. There are no shortcuts through the dark forest, only extra mitigations and practices that can be implemented to protect against any scenario. In this spirit, by empowering users to opt into coverage, they retain full agency over their risk profile, choosing the extent they wish to safeguard their capital without surrendering custody or control.

OpenCover has emerged as the leading onchain coverage interface by making protection usable and easy to acquire. Through this integration, Cap users can now access that coverage natively, without leaving the app.