The floor under
your stablecoin.
Solvers compete to cover your depeg risk and back it with their own margin. Hold below the line long enough and the contract pays you — no claim, no committee, no waiting.
No wallet. No gas. Testnet demo credits.
Peg right now
$0.0000
cover closed
Policies written
0
on NEAR testnet
Solver margin posted
0
0 committed
Claims to file
0
the contract just pays
March 2023 · stylised from the public record, not a price feed
When the floor
gives way
A stablecoin slipped to about 87 cents over one weekend. There was no cover a holder could buy in time, and nothing that paid out on its own.
How it works
Watch it run, break and heal.
01 — The ground
A peg you can actually see
The reservoir is the stablecoin. Its water level is the live on-chain price, and the lines cut into the rock are the payout tiers. Nothing here is a mock: that level is read from a real pool contract on NEAR.
02 — The market
Solvers bid to hold it up
Three solver bots quote against your request, each with its own NEAR account and its own margin. The towers fill as capital is committed. The cheapest quote that can cover you wins.
03 — The cover
You buy, and the margin locks
Your premium and the winning solver's margin lock together in one contract call. A house lights up on the plaza: that is your policy, live, with a countdown before it activates.
04 — The break
Someone dumps, and the water drops
Anyone can sell into the pool. The level falls past the tier lines, the market stops quoting, and the gate slams: nobody can buy cover once the peg is already going. Latecomers are refused on-chain.
05 — The payout
Held under too long. The floor cracks
Stay below a line for the sustain window and the contract settles on its own, paying the deepest tier reached. No claim, no form, no committee. The money lands in the holder's account.
Peg
$1.0000
Floor · live diorama
The market
Nobody sets the price. The book does.
Pooled cover has stayed small because the capital is scarce and the premium is a guess. Here each policy is backed by one solver's own locked margin, and the premium is whatever the cheapest solver will take. When risk rises, quotes widen and capacity leaves — which is exactly when cover should get expensive.
—
connecting…
Reading the book…
—
connecting…
Reading the book…
—
connecting…
Reading the book…
These three are scripted bots, and we say so everywhere. A real book would need real underwriters; the point here is that the structure, the signing and the margin are real on-chain.
On NEAR
What the chain is actually doing here.
contracts/floor
The rules live in a contract
The gate, the tiers, the sustain window and the settlement delay are all enforced in Rust on NEAR. The frontend cannot bend any of it — a late buyer is refused by the contract, not by the UI.
env::ed25519_verify
Quotes are verified on-chain
Each solver signs its quote with an ed25519 key. The contract checks that signature with env::ed25519_verify before it will lock anyone's margin, so a tampered premium simply fails.
ft_transfer_call
Money moves as a real token
Premiums, margin and payouts are NEP-141 transfers. Buying cover is one ft_transfer_call: the token hands the contract the premium and the signed quote together, and a refusal refunds in the same transaction.
cross-contract call
The price is read, not reported
No oracle role and no admin feed. The contract makes a cross-contract call to the pool and reads the same price anyone else can move by trading against it.
Chain Signatures
Payouts can leave NEAR
The contract builds an EVM transfer itself, hashes it, and asks the NEAR MPC signer to sign it — so a payout can land on a chain NEAR does not live on, without a bridge.
sub-accounts
Nobody needs a wallet
Every visitor gets a real NEAR sub-account the moment they arrive, funded with demo credits. Custodial and testnet-only, and labelled that way in the app.
Honest limits
What we would pick apart first.
Everything below is in the repository's README and claims file too. If a line here is not backed by a command you can run, it should not be here.
- 01The solvers are bots.
- Three scripted strategies, not a real underwriting desk. They have their own NEAR accounts, keys and margin, and their quotes are verified on-chain — but a real market would need real capital behind it.
- 02The stablecoin is ours.
- You are breaking a demo stable in a demo pool, not USDC. That is what makes it safe to hand you the dump button. The March 2023 weekend is used as a labelled historical reference only.
- 03It is fully collateralised.
- Each policy locks the solver's whole maximum payout. That is honest but capital-heavy, and it is the main thing a production version would have to improve.
- 04The trigger depends on being watched.
- A keeper pokes the price so the contract sees a sustained breach. Anyone can do it, but a TWAP would be the stronger design and is the next thing we would build.
- 05The cross-chain payout is one-way.
- Chain Signatures can sign an outbound transfer, but the contract cannot see the other chain. Confirming that it landed is a trusted step, and we say so in the app.
- 06Crypto cover has failed before.
- Several on-chain insurers wound down or paid nothing when it mattered. A working prototype is not proof of demand, and we are not claiming otherwise.