Claim V2 #18 | Sherlock Quota Share Cover | 18,562.50 DAI

Claim V2 #18 | Sherlock Quota Share Cover | 18,562.50 DAI


On Tuesday (26 September), Sherlock announced that they had approved and paid a claim for 49,500 USDC to Ajna Finance, who purchased $2M of coverage from Sherlock.

According to the Sherlock Coverage Agreement, the protection includes Bug Bounty Coverage, which covers bug bounty payouts up to 10% of the active coverage amount (i.e., $200,000 in this case).

Anja Finance paid out $95,000 for a recent responsible disclosure and filed a claim with Sherlock. After the Bug Bounty Coverage deductible was applied, the Anja’s total claim request was $49,500. Sherlock has paid 49,500 USDC to Anja Finance and they have filed a claim for 37.5% of the $49,500 amount, which comes to $18,562.50.

You can read Sherlock’s overview in this Twitter thread.

Claim Request

Sherlock has filed Claim V2 #18 for Cover ID 268, which is a Sherlock Quota Share Cover for Anja Finance.

Sherlock has shared the transaction, where they paid a claim to Anja Finance, and they included the following incident details.

Claim paid on behalf of the Ajna bug bounty report described here:
Claim amount paid by Sherlock was 49,500 USDC. Nexus coverage for 37.5% of that amount is 18,562.50 USDC.

Claim Assessment

Claim Assessors can review the Sherlock Quota Share Cover wording and the claim request details. After reviewing these details, Claim Assessors can discuss this claim in this forum post or in the Nexus Mutual Discord within the Claim Assessment forum.

You can review the claim request submission in the Nexus Mutual user interface.

If you haven’t participated as a Claim Assessor before, please review the Claim Assessment section in the Nexus Mutual documentation.

If you have any questions, please reach out on Discord in the assessing claims channel.

Note: Any claim assessors who cast fraudulent votes will have their staked NXM burned, as outlined in the documentation.


Felt a bit weird at first glance since we’re not used to that kind of claim.

But after reading about Sherlock’s Active Exploit coverage and the cover wording, everything seems ok.

I will vote yes.


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