OpenCover expands institutional onchain cover to Solana

OpenCover has expanded its institutional-grade onchain risk cover to the Solana network, opening protection for eligible positions tied to four initial protocols: Kamino, Raydium, Orca, and Jupiter. The company said coverage scope, limits, and terms will vary by protocol and position. The move brings Solana users access to cover against a range of DeFi-specific risks, including smart contract exploits, oracle failures or manipulation, liquidation failures, and governance attacks. OpenCover operates as an onchain risk protection platform for DeFi users and connects buyers with underwriters such as Nexus Mutual. According to a previous announcement from Nexus Mutual, the four cover products already launched on Solana account for nearly 90% of capital in the network’s lending market. Among them, Kamino and Jupiter each hold more than $1 billion and $925 million in lending deposits, respectively. OpenCover said the launch marks the starting point for a broader build-out of risk transfer infrastructure on Solana. The company added that it plans to work with protocols, asset managers, and liquidity providers to widen the range of positions that can obtain protection.