Firelight, a cover protocol built on the Flare Network, has added $30.5 million of coverage to Kraken’s Protected Strategies USDC vault, operational since October 15, 2026, just nine days after its launch. Each depositor address is capped at $100,000 of coverage per period, specifically targeting smart contract exploits and oracle failures. Payouts are handled by Sentora and not guaranteed by Kraken, with a consortium of five independent firms validating each claim requiring at least three favorable votes. The coverage is backed by a staked FXRP pool and a protocol-owned first-loss buffer, against a backdrop where Sentora’s total value locked exceeds $2.8 billion.
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