# Custodian Risk Cover

## Claims Process

Claim assessments are conducted by the Advisory Board and the RiskShield protocol's community Claim Assessors through investigation and community voting. Instead of simply accepting or rejecting a claim which is the general practice in the space, RiskShield adopts a quantitative and more sensitive approach.

#### Step 1: Claim Submission

Upon being notified of a potential Claimable Risk Event, the Advisory Board shall investigate and verify the event, after which the Advisory Board shall make an announcement through the Protocol’s social media accounts and/or channels as set out on the Platform to confirm or disconfirm the occurrence of a Claimable Risk Event, or to extend the time to investigate and verify the event.

Claims must be submitted in respect of the Claimable Risk Event that occurred within the Cover Period with a fee payment of 0.5% of the amount claimed by the Claimant to the Protocol within 21 days after the Protocol’s public confirmation of the Claimable Risk Event (“**Claim Period**”), failing which there shall be no Claim under the Cover. Claims submitted in respect of the same Claimable Risk Event shall be decided as a group.

Claims shall automatically be deemed invalid and rejected upon submission if the Claims were made on the same loss event which has already been rejected twice by the Advisory Board or Claim Assessors.

Claimants shall submit their Proof of Loss and Ownership within seven (7) days from the day of Claim submission, failing which the Claim shall automatically be deemed invalid and rejected.

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More information on how to make a claim here. Please refer here and the latest terms and conditions of your Cover for the evidence checklist on Proof of Loss and Ownership.&#x20;
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#### **Step 2: Investigation**

The Advisory Board shall only make a Claim Investigation Report containing the Advisory Board’s investigation findings, draw a conclusion, and make a payout proposal on the Claim in respect of valid claims (“**Proposal**”).

#### **Step 3**: **Voting**

The Proposal shall then be subjected to voting by the Claim Assessors. The default voting window is 48 hours. If at least 15% of the total $RSY tokens staked by the Claim Assessors is involved in the vote, these votes shall be deemed to be valid (“**Valid Votes**”). Otherwise, the vote is deemed invalid, in which case the Advisory Board shall determine the Claim and the Protocol shall proceed as such.

In the event that more than 50% of the Valid Votes reached consensus (“**Majority Vote**”) on the Proposal, the Protocol shall proceed as per the Majority Vote, otherwise the Advisory Board shall determine the Claim and the Protocol shall proceed as such.

Claims submitted before the end of the Claim Period and after the Claim Assessors’ or Advisory Board’s determination of the Claim (“**Claim Outcome**”) shall have seven (7) days from the day of Claim submission for submitting Proof of Loss and Ownership, failing which such Claims shall automatically be deemed invalid and rejected. After the seven (7) days have lapsed, such Claims shall be solely and conclusively determined by the Advisory Board after five (5) days and based on the Claim Outcome.

#### **Step 4: Individual Appeal**&#x20;

In the event the Claim is determined by the Claim Assessors, the Claimant shall have 72 hours to file an Appeal (“**Appeal**”) (if any) against the decision of the Claim Assessors and pay the Protocol a fee of 0.5 % of the amount claimed by the Claimant, failing which there shall be no Appeal. The Advisory Board shall have sole and absolute discretion to make a final and conclusive determination on the Appeal.

#### **Step 5: Payout**

If the Claim is approved, payments shall be made according to the criteria set in the Proposal or Appeal decision to the successful Claimants and the Protocol shall not be responsible for any differences between the market value of the tokens used in making the Cover Payouts at the time of such Cover Payouts and the time the Claimants have received such Cover Payouts.

## Amendments

RiskShield will use commercially reasonable efforts to communicate any material amendments of the Terms through the RiskShield’s social media accounts and/or channels as set out on this platform but in any case, it is your responsibility to check for the latest version of the terms and conditions prior to purchasing the Cover or continuing with your use of the Cover. Please note that continued use of the Cover after such amendments is deemed as agreeing to the amended terms and to be bound by them.
