Getting Started
Introduction
Welcome to Cove — the one-stop platform for earning onchain
Cove
Optimized by Gauntlet. Audited by Trail of Bits, Pashov Audit Group, Zellic, Quantstamp, and yAudit.
What is Cove?
Cove pairs off-chain intelligence with on-chain automation to deliver curated 1-click DeFi vaults that earn higher, risk-adjusted yield 24/7.
Our first product coveUSD sets the benchmark for safe, diversified blue chip USD yield on Ethereum.
The Cove ecosystem is launching in phases and includes:
1
Phase 1 (now)
- $COVE: a currently non-transferable governance token.
- Cove Protocol: pairs off-chain intelligence from experts like Gauntlet with on-chain automation to deliver you higher, safer yield.
- A simplified way to earn onchain that hides the complexity of best-in-class management.
- Easy access to to sophisticated strategies run by experts like Gauntlet.
- Earn $1B+ in additional profit for LPs by eliminating loss-versus-rebalancing (LVR) using Programmatic Orders.
- Better execution when internal trades are matched offchain by Cove’s solver and settled without leaking value, like ring trades in batch auctions.
- coveUSD: Cove’s flagship vault delivering institutional-grade USD yield through automated capital allocation.
- Routes deposits through off-chain Silverback bots and Gauntlet’s risk models to optimize returns.
- Automatically reallocates across top strategies including Ethena’s sUSDe, Frax’s sfrxUSD, Superform’s SuperUSDC (Euler/Fluid), and Cove’s Boosties Yearn sUSDS vault.
- Achieved net APYs up to 13.34% over the past three months.
- Aims to establish the benchmark rate for safe, blue-chip USD yield on Ethereum.
- Boosties: the dedicated liquid locker and staking platform for
Yearn, built with Yearn V3.
- Choose between automatically compounding or directly claiming dYFI rewards.
- coveYFI: a liquid locker for YFI.
- dYFI Redeemer: public good to automatically redeem dYFI for YFI without holding ETH.
2
Phase 2 (Late 2025+)
- AI-enabled strategies powered by Ritual x ████████.
- Tokenomics and onchain governance.
- Cross-chain expansion and abstraction.
Learn more: