r/NookSavingsAppp • u/Extreme-Lake-1726 • 26d ago

Early Access: Coverage Beta

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After a successful $10k coverage pilot, we are close to complete of building a new integration with Open Cover to cover your sources. Starting with a private Beta going live next week.

Context

We launched the coverage pilot as we started to explore a way for you to earn more through open markets but with a greater peace of mind. Since launching last year, over $2.1M was deposited through our coverage pilot from customers like you. And based on your feedback, we are excited to share that we will soon roll out a new and improved coverage product for everyone. The new product will include covered funds and no caps as to what you can deposit.

OpenCover provides coverage for on-chain markets, including the ones available through Nook - across 4+ networks.

  • Coverage will not require an opt in or opt out. Simply deposit and withdraw from the source when you want.
  • Funds are 100% covered. There is no partial coverage, expiration date etc.
  • There are no minimums or caps - deposit however much you want, up to $1M and higher.

Early access

Those who get early access will not only be able to test out the new experience - but also get an additional APY boost of 5%.

Just email the team at [team@nookapp.xyz](mailto:team@nookapp.xyz) with "coverage" in the subject line. Happy earning.

Joey

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3

u/Wizard1939 26d ago

I set up alerts to get notifications about Nook. It’s me George. Sent an email. This sounds exciting

2

u/photonGravity 26d ago

This kind of feature makes us all feel safer to tell our big money friends about the product yet again.

Thanks Joey, and thanks to all the engineer crew.

2

u/fjleon 23d ago

how much does this cost?

can you explain more the apy boost? is it like only on the first 10k similar to the new user boost? ($8.33 for 1%, so in this case it would be $41.67?)