Logo of Cork V1Cork V1
Total Value Locked$5,665.67

TVL by Chain

Ethereum$5,665.67

Key Metrics

Total Raised$5.5m

Sep 9, 2024Round: Pre-SeedInvestors: Orange DAO, a16z, Ideo Ventures, Steakhouse Financial, Outliers Fund, Unbounded Capital

Jan 21, 2026$5.5mRound: SeedInvestors: a16z crypto, Road Capital, WAGMI Ventures, IDEO CoLab Ventures, BitGo, Hyperithm, Depo Ventures, Cooley, FunFair Ventures, Stake Capital, Gate Ventures, Peer Venture Partners, G-20 Group, 432 Ventures

Protocol Information

The tokenized risk protocol. Hedge, trade, and earn on the risk that stablecoins, LSTs, & LRTs lose their peg

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Category:Insurance

Methodology

TVL: TVL accounts for all assets deposited into the Cork smart contracts.View code on GitHub

Hacks

Date: May 28, 2025

Amount: $12m

Classification: Access Control

Technique: Improper Access Control

Chains: Ethereum

Language: Solidity

Target Type: DeFi Protocol

Competitors

Nexus Mutual ($110.23m)Easedefi.org ($4.93m)Unslashed ($3.74m)Ensuro ($2.04m)Cozy Earn ($1.05m)Cover Protocol ($808,661.29)iTrust Finance ($514,128.42)Ante Finance ($510,419.69)Sherlock ($501,520.78)Nsure ($256,419.07)

Frequently Asked Questions

What is Cork V1's TVL?

Cork V1 currently has $5,665.67 in total value locked. TVL has increased 26.6% over the past 30 days.

What chains does Cork V1 operate on?

Cork V1 operates on Ethereum. Ethereum holds the largest share at 100%.

How does Cork V1's TVL compare to similar protocols?

Among Insurance protocols tracked by DefiLlama, Cork V1 ranks #20 by TVL. The category holds $125.27m across 31 protocols, and Cork V1 accounts for <0.1% of that total. Other leading protocols include Nexus Mutual, Easedefi.org, Unslashed, Ensuro, Cozy Earn, Cover Protocol, iTrust Finance, Ante Finance, Sherlock, and Nsure.

Has Cork V1 ever been exploited?

Cork V1 has 1 recorded security incident. The most recent incident occurred on May 28, 2025 and involved $12m. It was classified as Access Control.