Firelight Brings Onchain Protection to Kraken Protected Strategies USDC Vault

Firelight’s first major exchange integration brings programmatic onchain cover to a Kraken USDC vault. Firelight , an onchain cover-enablement protocol for DeFi, today announced its integration with Kraken Protected Strategies USDC on Kraken DeFi Earn, bringing built-in protection to one of the largest onchain earn programmes in the industry. The integration is Firelight’s first with a major crypto platform and comes as Kraken Earn passes $800 million in deposits, with USDC accounting for close to half of the capital in curated DeFi vaults across the market. The vault is enabled with cover against defined failures, including smart contract exploits, oracle failures and redemption failures, under terms registered onchain before cover is effectuated. Onchain yield strategies can involve multiple interconnected protocols, introducing risks that extend beyond any individual platform or vault.

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