03 / CLAIMS

NOBODY DECIDES. THE TRIGGER DOES.

There is no claim form because there is no claim. When a peril's trigger holds for its window, the contract pays every active cover on that asset in one transaction. You do not file, you do not wait, and you do not argue.

A PAYOUT, BLOCK BY BLOCK.

P1 DEPEG · TSLAx · simulated block 4 902 110 TWAP(24h) 0.9712 ok block 4 902 340 TWAP(24h) 0.9688 breach · timer starts public event: BreachStarted(TSLAx, P1) block 4 903 100 TWAP(24h) 0.9650 window 3h/24h block 4 906 900 TWAP(24h) 0.9701 recovered · timer cancelled public event: BreachCancelled block 4 907 210 TWAP(24h) 0.9640 breach · timer starts … block 4 914 400 TWAP(24h) 0.9585 window 24h/24h TRIGGER payout/notional = 0.97 − 0.9585 = 0.0115 block 4 914 401 pay 212 covers · $2.41M notional · $27,715 USDC public event: Paid(TSLAx, P1, …) covers closed · TSLAx score 41 → 58

WHAT THE CONTRACT READS.

Prices. Token price from on-chain TWAP; reference price from the primary oracle and at least two independent secondaries.

Attestations. Custodian reserve attestations posted on-chain on their published cadence.

Halt flags. Exchange halt status carried by the reference feed; issuer redemption status from the issuer contract.

Default notices. A registry where issuers, custodians or a governance quorum can post a default flag. Posting a false flag is slashable.

Every input is a public on-chain value. If you can read the block, you can predict the payout.

DISPUTES.

There is one thing to dispute: whether an input was wrong. If an oracle posted a bad value, the P4 peril exists for that. If a halt flag was wrong, the feed operator is slashed and the payout stands; the pool recovers from the operator's bond, not from you.

The pool never claws back a payout. A payout that turns out to have been triggered by a faulty input is the pool's loss and the input provider's liability.

Paid means paid. There is no reversal mechanism in the contract, by design.