Smart Contract Cover

1. Overview

The purpose of this document is to illustrate the terms and conditions of the Protocol Smart Contract Cover offered by UnoRe

2. Coverage

UnoRe will provide insurance on Smart Contract exploitation risk for the designated protocol. Your financial loss, in the case of a proven smart contract exploitation, shall be compensated in $UNO or $ETH within 10 working days of claim-filing.

3. Claim shall be payable under the following conditions:

3.1 During the cover period, a Material Loss is incurred to the insured user’s crypto assets due to an unauthorized, malicious or criminal act specifically aiming at exploiting

the Designated smart contracts’ code vulnerabilities, and

3.2 The insured user’s crypto assets are irrecoverable with the loss being permanently

irreversible with no means of repayment or recovery by any parties in the future, and

3.3 The loss is related to the wallet address used to purchase the cover, and

3.4 The loss occurred during the cover period, and

3.5 A claim is submitted during the cover period or within 7 days after the cover expires

4. Exclusions. Claims will not be paid:

4.1 If the cause of the loss of covered asset is due to

a. Phishing, or

b. Private key security breaches, or

c. Malware, or

d. Exchange transaction hacks, or

e. Any other activities where the designated smart contract continues to act as intended or any activities conducted by the insured because of personal carelessness or misunderstanding, or

4.2 Any claims due to an individual or group’s intentional actions that utilize the designated smart contract for the purpose of making claims on this cover, or

4.3 Any losses due to the devaluation of insured's assets, regardless such a devaluation is related to the attack or not, or

4.4 Any hacks or pre-defined events occurring during the cover period where:

4.4.1 The hack occurred is known, or

4.4.2 The hack is due to a bug disclosed to the public prior to cover period, or

4.4.3 The designated protocol is a fork of a parent protocol, a public bug disclosure or warnings related to the event were made for the parent protocol before the cover period began, or

4.5 Any events where any other external interoperable or interactive smart contracts are

hacked or manipulated in an unintended way, while the designated smart contract continues to operate as intended, or

4.6 Any events where inputs, that are external to the designated smart contract, behave or are manipulated in an unintended way, while the designated smart contract continues to operate as intended, where inputs include but are not limited to: oracles, governance

systems, incentive structures, miner behaviour and network congestion, or

4.7 The Insured provides false information, hides, lies or misleads claim assessment, or

4.8 Any claims out of an attack executed entirely or partly by the Insured, or

4.9 Any losses of rewards yet to be distributed to a user(s) wallet address, or

4.10 Any events or losses where the designated protocol continues to operate as intended including events or losses result of miner behaviour, or

4.11 Any events or losses resulting from the owners or controllers of the designated protocol confiscating or stealing funds from users in line with the permissions of the designated protocol irrespective of the individual or entity that has access to the private keys of the owner or controller accounts (“rug pull” exclusion)

4.12 Incident/Claims that occur within 72 hours of policy purchase will not be covered

5. Conditions

5.1 Price of Cryptocurrency

The last 7 days TWAP (Time weighted average price) of cryptocurrency at the time of the transaction when the loss occurs shall be used in the calculation of actual loss. The Insured is allowed to provide supporting material for such price, which shall be considered by the claim adjuster if necessary. Otherwise, Claim Assessor shall get the cryptocurrency price at the time of transaction from CMC, CoinGecko or any other reliable sources (e.g. price from most liquid exchange, average of multiple public database), especially in the circumstances that the cryptocurrency's price gets volatile due to the attack. Claim Assessor shall identify the price of cryptocurrency and its source in deriving the claim amount payable

5.2 Recovery after claim submission

Any recovery received by the Insured as compensation for his/her losses as result of the hack/attack shall be excluded from the claim payments

5.3 Challenge of Claim Decision

All claims are paid as per the policy terms and conditions with UnoRe Claim Assessors having the final say on claims payable

5.4 Cover Termination

5.4.1 The Cover for a particular protocol shall terminate once the Cover Period ends as stated in the policy schedule, or

5.4.2 A particular pool will be eliminated from future coverage from the main policy under the given conditions:

a. When a claim has been registered under that particular pool, or

b. The Cover Period ends as stated in the policy schedule, or

5.4.3 Coverage for pools as agreed and listed in the policy coverage and those not exploited will continue post elimination of affected pool

6. Definitions:

6.1. Cover Period means the period for which the cover has been bought and is valid for

6.2. Material Loss means a loss that goes beyond the gas related costs involved in operating the contract

6.3. Designated Smart Contract means the smart contract specified in the cover, either it may be a single smart contract or a group of smart contracts running on the public blockchain network

Note: Any outside inputs to that system such as oracles, miners, and individuals or groups of individuals interacting with the system will not be included in the cover

6.4. Policy End date means the date till which the Master Policy is valid, post that date the policy expires.

6.5. Policy start Date means the date from which the policy cover starts and covers that

particular user, i.e. the date on which the policy was bought by that particular individual

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