Getting Started - CoverFi

This page is for users opening CoverFi for the first time. CoverFi protection is not insurance and does not guarantee a payout. The app shows the rules before you sign, and your wallet is always the final approval step.

First session

Create protection

Before signing, check:

Asset and amount.
Duration.
Live price shown by the app. The contract captures the entry price from the oracle when you sign.
Premium fee.
Maximum payout cap.
Wallet address.

After expiry, anyone may submit settlement. If the position is claimable, only the owner can claim the reserved payout. Principal withdrawal is a separate owner-signed action.

Send a username payment

Username payments still settle as normal Stellar payments. After confirmation, payments are final and CoverFi cannot reverse a payment sent to the wrong address.

Use CoverFi AI

CoverFi AI can explain screens, draft protection inputs, and help with support-style questions. It cannot sign, send funds, guarantee payouts, or replace financial/legal advice.

What to do if something looks wrong

Do not sign if the wallet preview does not match the app.
Re-check the resolved username address before payment.
Check oracle freshness and reserve state in the monitor.
Use receipts and transaction hashes for support.