Imagine investing in a DeFi protocol with billions in TVL, only to see it vanish overnight due to a smart contract exploit. No refund, no compensation, and no way back. Sounds extreme? 

Maybe. But it’s not uncommon. In fact, in today’s Web3 landscape, it’s the rule, not the exception.

The Security Illusion in Web3

Web3 is booming. From DeFi and DAOs to NFTs and L2s, innovation has exploded. But while the surface shines, the foundation is cracked. According to multiple industry estimates, less than 1% of digital assets are insured. That means over $99 out of every $100 in crypto value is exposed to total loss from:

• Smart contract vulnerabilities
• Oracle manipulation
• Cross-chain bridge exploits
• Wallet key theft
• Exchange or protocol failures

This isn’t just theoretical. In 2024 alone, over $2.2 billion was lost in Web3 hacks and exploits, according to Chainalysis. And users? Left with nothing but postmortems.
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Why is this normal? Because up until now, Web3 hasn’t had native cover infrastructure. 

Traditional insurers won’t touch on-chain risk. 

And decentralized alternatives? - Too few, too limited, too slow to scale.

Why Web3 Cover Hasn’t Worked Yet?

Let’s be fair: there are protocols that tried. UnoRel, InsurAce, and a few others laid the groundwork. But most existing models suffer from at least one of the following:

• Centralized claim decisions, which contradict Web3’s ethos
• Static premium pricing: unable to respond to dynamic risk profiles
• Low capital efficiency: massive pools locked, little coverage issued
• Poor UX: coverage that feels more like filling out a government form than using a DeFi product

The result? Minimal adoption. Coverage ratios are near zero. And a persistent myth: that audits alone are enough.

But audits are just snapshots. Good for launch, useless post-deployment. Smart contracts are living systems. Threats evolve, integrations break, incentives shift.

Introducing Safura — Real Risk Coverage for Web3

Enter Safura, a new protocol built by the security experts behind AuditOne. 

It flips the model on its head:

• Cover starts where audits stop: Safura ties actual coverage to a project's risk score and audit history. No audit? No cover. Better audit? Better rates.
• Risk is shared, not outsourced: Coverage is underwritten by staked $SAFU, the protocol’s native token. If something goes wrong, payouts come from burning that collateral.
• Claims are assessed by expert auditors by AuditOne: Not a centralized panel. Not a black box. DAO members stake $SAFU to assess claims—and get slashed for fraud.

How it works:

1. A project completes a dual-audit. They can also get audits from other quality audit companies, but they must pass our security assessment performed by auditors from AuditOne
2. It applies for coverage, locking $SAFU as collateral.
3. Users buy coverage via a modifiable NFT (yes, your policy is on-chain and tradable).
4. If an exploit happens, the claim is filed, assessed on-chain, and paid out from the coverage pool.

This isn’t abstract. It’s already happening.

For example, a lending mid-size DeFi protocol with $40M TVL gets dual-audited, locks $SAFU collateral, and embeds Safura coverage into their UI.

Six weeks later, a critical Oracle bug causes a $2M mispricing exploit. 78 users with active Safura coverage file claims. After on-chain voting, claims are approved. $SAFU is burned to compensate them proportionally.

No PR disaster. No endless Twitter threads. No community rage. Just protection. Delivered.

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Or another project, same TVL, skips coverage. They relied solely on a one-time audit. A flash loan exploit drains $6M.

The team is doxxed. Token price drops 90%. TVL evaporates. The community was abandoned. They had no backup plan.

This is the gap Safura was built to close.

Don’t Just Audit. Cover.

Web3 is too big, too fast, and too interconnected to keep relying on good intentions and patchwork audits. We need a resilient, decentralized insurance alternative as a core layer of infrastructure.

Safura does what the market failed to deliver: coverage that is:

• Decentralized
• Collateralized
• Transparent
• Embedded directly into protocols and wallets

Because protection should be as native as permissionless swaps or staking.

Interested in Coverage?

‍Contact us at hello(at)safura.io or please fill out the attached form, and our team will get back to you shortly: https://www.safura.io/coverage-request