CertikShield
CertiKShield is a fully decentralized reimbursement system, providing significant flexibility and risk-reward sharing for its members
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CertiKShield is a fully decentralized reimbursement system, providing significant flexibility and risk-reward sharing for its members
Last updated
Was this helpful?
Token holders looking to protect themselves from theft or loss can purchase coverage for their assets with CertiKShield.
A Shield represents fully-collateralized protection of an asset. When Shields are purchased, funds are reserved to fully collateralize this protection.
CertiKShield not only provides reimbursement protection for coverage seekers and project owners, it also gives everyone the opportunity to earn rewards by becoming a collateral provider.
Funds inaccessible from frozen contracts
Inconsistency between specification and implementation
Flawed design, logic, and access control
Arithmetic overflow operations
Reentrance, code injection, and Denial of Service attacks
Limit exceeded on bytecode and gas usage
Miner attacks on timestamp and ordering
Shields protect the crypto found within specific, shielded addresses. If those tokens are stolen, frozen, or otherwise inaccessible, the CertiKShield system is intended to assist the owner in reimbursing their lost assets.
Each Shield is active for approximately 21 days, with the exact time dependent on the final block. Requested claims for losses occurring outside of the 21 day active period are not eligible.
Your Shield only covers the losses associated with your specified address. If the crypto loss occurs in the address that you’ve specified, then you may be eligible for a claim. If the address of this third-party smart contract is not specified in the Shield, then it is not eligible.
The Service Fee is automatically calculated using a formula that balances providing affordable Shields to Shield Purchasers and sufficient rewards to Collateral Providers. Shield Purchasers obtain 130x protection for the Service Fee paid–in other words, if you pay 1 CTK, you receive 130 CTK of protection.
You can find more details about CertikShield here.
