Create a New Cover

Search…
Create a New Cover
This example shows how to create a new cover contract on Neptune Mutual protocol on your chosen network/chain. Before anyone can supply liquidity to a cover, you'll also need to deploy its vault.
Step 1: Create a Cover Info Object
Compose a javascript object having the following structure:
interface ICoverInfo {
  key: string
  coverName: string
  projectName?: string
  vault: {
    name: string
    symbol: string
  }
  requiresWhitelist: boolean
  supportsProducts: boolean
  leverage: string
  tags: string[]
  about: string
  blockchains: Array<{
    chainId?: number
    name: string
  }>
  rules: string
  exclusions: string
  links?: {
    website: string
    documentation?: string
    telegram?: string
    twitter?: string
    github?: string
    facebook?: string
    blog?: string
    discord?: string
    linkedin?: string
    slack?: string
  }
  pricingFloor: string
  pricingCeiling: string
  reportingPeriod: number
  cooldownPeriod: number
  claimPeriod: number
  minReportingStake: string
  resolutionSources: string[]
  stakeWithFees: string
  reassurance: string
  reassuranceRate: string
}
Example:
import BigNumber from 'bignumber.js'
const DAYS = 86400
const ether = (x) => BigNumber((parseFloat(x.toString()) * 10 ** 18).toString()).toString()
​
const info = {
  key: '0x70726f746f3a636f6e7472616374733a636f7665723a6366633a303100000000',
  coverName: 'Compound Finance Cover',
  projectName: 'Compound Finance',
  vault: {
    name: 'Compound Finance POD',
    symbol: 'CF-nDAI'
  },
  requiresWhitelist: false,
  supportsProducts: false,
  leverage: '1',
  tags: ['Smart Contract', 'DeFi', 'Lending'],
  about: 'Compound is an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications.',
  blockchains: [{
    chainId: 1,
    name: 'Main Ethereum Network'
  }],
  rules: 'Enter your cover rules here',
  links: {
    website: 'https://compound.finance/',
    documentation: 'https://docs.compound.finance/',
    twitter: 'https://twitter.com/compoundfinance',
    github: 'https://github.com/compound',
    facebook: 'https://facebook.com/compoundfinance',
    blog: 'https://blog.medium.com/compoundfinance',
    discord: 'https://discord.com/invite/cU7vmVW',
    linkedin: 'https://linkedin.com/in/compoundfinance'
  },
  pricingFloor: percentage(7),
  pricingCeiling: percentage(24),
  reportingPeriod: BigNumber(7 * DAYS),
  cooldownPeriod: BigNumber(1 * DAYS),
  claimPeriod: BigNumber(7 * DAYS),
  minReportingStake: ether(5000).toString(),
  resolutionSources: ['https://twitter.com/compoundfinance', 'https://medium.com/compound-finance', 'https://twitter.com/neptunemutual'],
  stakeWithFees: ether(50_000),
  reassurance: ether(50_000),
  reassuranceRate: percentage(25)
}
​
export { info }
info.js file
Step 2: Submit Approvals
Before you can create a new cover,  you must submit at least one approval transaction:
NPM Token: Approve Stake and Fees (Required)
Reassurance Token: Approve Initial Reassurance Amount (Optional)
import { ChainId, cover, registry } from '@neptunemutual/sdk'
import { info } from './info.js'
import { getProvider } from './provider.js'
​
const create = async () => {
  const provider = getProvider()
  const dai = await registry.Stablecoin.getInstance(ChainId.Mumbai, provider)
​
  const response = await cover.approveReassurance(ChainId.Mumbai, dai.address, { amount: info.reassurance }, provider)
  console.info(response)
}
​
create()
​
/*****************************************************************************
{
  status: 'Success',
  result: {
    nonce: 1,
    gasPrice: BigNumber { _hex: '0x06fc23ac00', _isBigNumber: true },
    gasLimit: BigNumber { _hex: '0x6aa8', _isBigNumber: true },
    to: '0x0e7C8A8545352663EE070f1C9a0174f4A50532DC',
    value: BigNumber { _hex: '0x00', _isBigNumber: true },
    data: '0x095ea7b30000000000000000000000006fb2eaf0b7770087314df3cb73c34b510c2c2354ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff',
    chainId: 80001,
    v: 160038,
    r: '0xe24c90cc3b940de7929b634d8672e329ee7c02836ef8cbf65b0db0b6bf2cebc1',
    s: '0x3be2aa4932cac043da64a10f35e6bd1fa81ec51a203911d2afc86a800c1d39d4',
    from: '0x589C82ee29ab1d609FE2F0856E00c2988e75eE51',
    hash: '0x74aeb8be4055afafb7e42fc38a5b0ea46ffa85e2bae0b0314818771de62f12bb',
    type: null,
    wait: [Function (anonymous)]
  }
}
*****************************************************************************/
If you do not create Reassurance Token and Stablecoin approvals, you must set the reassuranceToken.initialAmount and initialLiquidity to zero.
Approve Reassurance Token (Optional)
If you defined Reassurance Token and initial amount in your info.js file, you need to first submit an approval transaction allowing the protocol to transfer the reassurance amount to itself.
import { ChainId, cover } from '@neptunemutual/sdk'
import { info } from './info.js'
import { getProvider } from './provider.js'
​
const create = async () => {
  const provider = getProvider()
​
  const response = await cover.approveReassurance(ChainId.Mumbai, { amount: info.assuranceToken.initialAmount }, provider)
  console.info(response)
}
​
create()
​
/*****************************************************************************
{
  status: 'Success',
  result: {
    nonce: 1,
    gasPrice: BigNumber { _hex: '0x06fc23ac00', _isBigNumber: true },
    gasLimit: BigNumber { _hex: '0x6aa8', _isBigNumber: true },
    to: '0x0e7C8A8545352663EE070f1C9a0174f4A50532DC',
    value: BigNumber { _hex: '0x00', _isBigNumber: true },
    data: '0x095ea7b30000000000000000000000006fb2eaf0b7770087314df3cb73c34b510c2c2354ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff',
    chainId: 80001,
    v: 160038,
    r: '0xe24c90cc3b940de7929b634d8672e329ee7c02836ef8cbf65b0db0b6bf2cebc1',
    s: '0x3be2aa4932cac043da64a10f35e6bd1fa81ec51a203911d2afc86a800c1d39d4',
    from: '0x589C82ee29ab1d609FE2F0856E00c2988e75eE51',
    hash: '0x74aeb8be4055afafb7e42fc38a5b0ea46ffa85e2bae0b0314818771de62f12bb',
    type: null,
    wait: [Function (anonymous)]
  }
}
*****************************************************************************/
Approve Stake and Fee (Required)
You need to specify the total amount of NPM tokens to approve which contains both the stake and fees.
import { ChainId, cover } from '@neptunemutual/sdk'
import { info } from './info.js'
import { getProvider } from './provider.js'
​
const create = async () => {
  const provider = getProvider()
​
  const dai = await registry.Stablecoin.getInstance(ChainId.Mumbai, provider)
​
  await cover.approveReassurance(ChainId.Mumbai, dai.address, { amount: info.reassurance }, provider)
  const response = await cover.approveStakeAndFees(ChainId.Mumbai, { amount: info.stakeWithFees }, provider)
​
  console.info(response)
}
​
create()
​
/*****************************************************************************
{
  status: 'Success',
  result: {
    nonce: 1,
    gasPrice: BigNumber { _hex: '0x06fc23ac00', _isBigNumber: true },
    gasLimit: BigNumber { _hex: '0x6994', _isBigNumber: true },
    to: '0xaa6E152DCF34F54aCa65d5c4a720763e347F42d4',
    value: BigNumber { _hex: '0x00', _isBigNumber: true },
    data: '0x095ea7b30000000000000000000000009147a5cb1f858a8dc5ca2c26ec929e6ec38bac3200000000000000000000000000000000000000000000010f0cf064dd59200000',
    chainId: 80001,
    v: 160037,
    r: '0x23bb2d67079f17cb2219d83d653579519484e40e7bf97f4928e30644c248a52b',
    s: '0x75fa3e04cf1bc0bee5667d4301a39cdba0ca2609afa5b9253816580ac7d5ac17',
    from: '0x589C82ee29ab1d609FE2F0856E00c2988e75eE51',
    hash: '0x1efb4e593e29999814da5edfb210f3c60a7b3682c063a6bf85265e1d6b498d35',
    type: null,
    wait: [Function (anonymous)]
  }
}
*****************************************************************************/
Step 3: Adding a New Cover
Once you've signed the approval transactions, creating a new cover is very easy. There is only one line to add:
await cover.createCover(ChainId.Mumbai, info, provider)
The whole thing now looks something like this:
import { ChainId, cover, registry } from '@neptunemutual/sdk'
import { info } from '../../configs/info.js'
import { getProvider } from '../../provider.js'
​
const create = async (coverInfo) => {
  try {
    const provider = getProvider()
​
    const dai = await registry.Stablecoin.getInstance(ChainId.Mumbai, provider)
​
    let response = await cover.approveReassurance(ChainId.Mumbai, dai.address, { amount: coverInfo.reassurance }, provider)
    await response.result.wait()
​
    response = await cover.approveStakeAndFees(ChainId.Mumbai, { amount: coverInfo.stakeWithFees }, provider)
    await response.result.wait()
​
    // make yourself a whitelisted cover creator
    const coverCreator = provider.address
    response = await cover.whitelistCoverCreator(ChainId.Mumbai, coverCreator, provider)
    await response.result.tx.wait()
​
    response = await cover.createCover(ChainId.Mumbai, coverInfo, provider)
    console.info(response)
    await response.result.tx.wait()
  } catch (error) {
    console.error(error)
    console.info('Click on the file --> `info.js` and change the key and other details')
  }
}
​
create(info)
​
/*****************************************************************************
[info] {
  status: 'Success',
  result: {
    storage: {
      hashBytes32: '0x9ddc75bafdada33df8b2bc2613815fac5c22cc53119a23e6914936ae1ccdc22d',
      hash: 'QmYxshCcu1R6Pp37BEQpyqgUgJBmaBnvgN9dFxtKsZqN36',
      permalink: 'https://ipfs.infura.io/ipfs/QmYxshCcu1R6Pp37BEQpyqgUgJBmaBnvgN9dFxtKsZqN36'
    },
    tx: {
      nonce: 1,
      gasPrice: [BigNumber],
      gasLimit: [BigNumber],
      to: '0xDd4F24aEe772170487B3327e10Cd7a956c0A0E62',
      value: [BigNumber],
      data: '0x56aeb05f70726f746f3a636f6e7472616374733a636f7665723a6366633a3031000000029ddc75bafdada33df8b2bc2613815fac5c22cc53119a23e6914936ae1ccdc22d0000000000000000000000000000000000000000000000000000000000093a80000000000000000000000000000000000000000000000a968163f0a57b4000000000000000000000000000001dc2c4363d7e5965f3b9cb404c0e47e497ae5df7000000000000000000000000000000000000000000000a968163f0a57b400000000000000000000000000000000000000000000000000a968163f0a57b400000',
      chainId: 80001,
      v: 160037,
      r: '0xc6d48b47da21895623853d4530b1a31cf9ac3fe28d53231c75bc200688768773',
      s: '0x03f97ea2c9c0d3b26dc37eccc9dbf6269a0bace42caf1391e8902a08bda7d584',
      from: '0x076F91C0A411197e6Fce476F37c6385CCeacd26D',
      hash: '0x6678475de0dd18074affcdec1439fd35c17503bb4000eab430de43b89eeb709c',
      type: null,
      wait: [Function (anonymous)]
    }
  }
}
*****************************************************************************/
Neptune Mutual SDK - Previous
Provider Configuration
Next - Neptune Mutual SDK
Cover Reassurance
Last modified 2mo ago
Copy link
On this page
Step 1: Create a Cover Info Object
Step 2: Submit Approvals
Approve Reassurance Token (Optional)
Approve Stake and Fee (Required)
Step 3: Adding a New Cover