According to a report released on March 21st by OpenCover, a fragmented financial analysis firm, Defi paid $34.4 million in claims in 2022. Against this backdrop, only $36.9 million has been paid for such claims since OpenCover gradually tracked the data. The special spending includes $22.5 million during the green ecological collapse of Terra in May 2022 and $4.7 million after the collapse of the password trading center FTX in November 2022.

Although the amount of compensation has soared, OpenCover shows that, according to its data, only equity funds worth $231 million worth of Defi agreements have won commercial insurance, accounting for only 0.5 per cent of the total value locked in the Defi sector. Cointelegraph reported on Jan. 5 that Defi security vulnerabilities increased by 47.4% year-on-year in 2022, to $3.64 billion. Lian Hi-Tech, a Chinese blockchain security enterprise, wrote that blockchain technology-related crimes around the world, excluding financial crimes, reached 13.7 billion US dollars this year.

Defi commercial insurance has been expanded to eight categories: agreement loss insurance, stable linked commercial insurance, profit dynamic password commercial insurance, depository account commercial insurance, financial audit (intelligent contract shortcomings) commercial insurance, technical professional certification personnel greatly reduce commercial insurance and other customized commercial insurance. OpenCover shows that in the past nine months, the average daily leverage ratio of good insurance policies to insured capital by different service providers has been 1.07:

At the time of writing, the total value of underwriting margin accounts tracked by OpenCover was $286 million (£186 million), with a recent nine-month low of $210 million and a peak of $394 million. At this stage, its value is 26% lower than the maximum in dollar terms.

While the Defi insurance industry is growing, OpenCover shows that more needs to be done in terms of operational scale and capacity. "in the final analysis, expanding these indigenous innovations to a valuable scale of operation will depend on the scalability of the Defi risk assessment architecture, which is very rare at this stage," the company wrote. "