Coverage pools

What is a Coverage Pool?

It's a contract that any Bridge Mutual user can create. It contains the liquidity and necessary information, mainly about all policies bought for this pool and the insured contract.

Who can set up a Coverage Pool?

Anyone can set up a Coverage Pool easily on the app. Once the user has specified the network and smart contract address, they can create a new pool by depositing 100 USDT or more. All users will be able to see the pool that has been created.

Although anyone can create a Coverage pool, not all coverage pools are eligible to receive BMI rewards for providing coverage to the pool. Only Whitelisted pools are eligible to receive BMI rewards. This is done to prevent exploits of the protocol. Currently, whitelisting is done by the Bridge Mutual team, and later on, it will be done by the Bridge Mutual DAO.

Whitelisted pools have a small blue icon with a tick mark next to their name.

The user (anyone) is also allowed to provide tokens for Shield Mining (a V2 feature). To learn about the Shield Mining, head here:

Shield Mining

Where can I set up a coverage pool?

Head over to https://app.bridgemutual.io/user/pooled-staking