Purchasing Covers

Anyone who holds 1 NPM token or higher can purchase a cover contract for up to 3 months in the future. No KYC is required.

To guarantee successful claims payout, the platform will restrict liquidity providers from withdrawing the locked assets for a set duration of time.

The realized (non-claimable, expired) cover fees automatically accumulate in the pool. This ensures liquidity providers see their capital grow without having to withdraw.

Payouts and Incident Date#

Please take note of the following key differences:

Event Date or Observed Date
The date and time the event took place in the real world. It is also referred to as the event date.

Incident Date
The incident date is the timestamp at which an event report is submitted. Only if the incident date falls within your coverage period and resolution is in your favor, will you receive a claims payout.

Claim Period
In contrast to most DeFi cover protocols, Neptune Mutual has no waiting period between submitting a claim and receiving payout. You can access the claims feature to receive a payout if a cover is successfully resolved as Incident Happened.

After an incident is resolved, there is usually a 7-day claim period. Any claim submitted after the claim period expiry is automatically denied.


Please thoroughly review the cover rules, cover exclusions, and standard exclusions before purchasing a cover. If the resolution does not go in your favour, you will not be able to submit a claim or receive a payout.

By using the cover purchase function(s) directly via our UI, a smart contract call, through an explorer service such as Etherscan, through an SDK and/or API, or in any other way, you are fully aware, fully understand, and accept the risk of getting your claim(s) denied.