Cobalt Insurance Fund
Tokens & Assets Reserved
10% of the total supply of CBLT & nCBLT Tokens will be reserved for an insurance fund known as the SAFU Fund. Cobalt will constantly contribute to this fund, to insure against any possible losses due to malicious actors on the network. As the ecosystem progresses and expands to other blockchains, more assets will be reserved in this fund to protect the network.
What Is Covered?
Any losses on the network due to the fault of the Cobalt Lend Network or implementation of Cobalt Products used as directed by Cobalt Lend ONLY. Any products or services used in a manner not directed or authorized by Cobalt Lend will NOT be covered. These parameters can be adjusted by community vote at any time. To Be Covered: ONLY ERC20 Cobalt Tokens stored in the HOT Wallet @ Cobaltlend.com along with being protected by strong strong password in combination with 2FA (Google Authenticator or AUTHY) will be protected against "loses" by the Cobalt SAFU Fund. Evenually other assets will be covered by the Cobalt SAFU Fund, such as nCBLT & updates will be displayed here.
How The Fund Grows
A portion of the fees collected by Cobalt Lend will allocated to the "SAFU FUND" to ensure that it continues to grow in accordance with the community size. The amount of these fees can be adjusted by community vote at any time in order to preserve the financial integrity of the Cobalt community and safe-guard against malicious activity.
Auditing The Fund
The status of the fund will be available to the registered users inside their dashboard along with all other "Annual Reports"
Current Fund Allocation
If you feel that you have a case that should be covered under the “SAFU FUND” please use the button below to inform us of your particular situation. Please provide as much detail as possible along with TX HASHES.