In simple terms: We return the assets that you save in our protocol when someone steals them from your wallet. But this document describes it more precisely. The document can also be referred to as an Insurance Terms and Conditions.
More info about Eonian
General Eonian Terms of Service
EONIAN SAVINGS ACCOUNT - INSURANCE COVERAGE POLICY
INTRODUCTION
This document outlines the conditions under which Eonian Savings Account provides insurance coverage for users' assets held in our protocol. By utilizing our protocol, users acknowledge and agree to the terms stated herein.
DEFINITIONS
- Vault: A secured smart contract wherein users can save their assets.
- Insurance Pool: A reserve fund dedicated to compensate users in the event of eligible hacks.
- Claim: A formal request by a user to be compensated from the Insurance Pool due to a hacking incident.
- DAO: Decentralized Autonomous Organization; in our context, represents our project token holders.
COVERAGE / Inclusions
General Coverage
- Only wallets that are listed on our official website as "covered" fall under the protection of this policy.
- Funds lost due to a technical breach of cold, hot, or hardware wallets resulting in unauthorized access and transfers are covered.
- Covered only assets that were saved in the protocol. The rest of the assets in the wallet aren’t covered.
Specific Scenarios: