Break the wave.
The first parametric DeFi cover protocol on Solana. Five cover types, dual-oracle triggers, automatic payouts. When the storm comes, the breakwater holds the line.
Contract Address
The storm of DeFi
Solana grew fast. The risk layer never came with it.
Every cycle brings the same surge -- an exploit, a depeg, a slashing event, a liquidation cascade, an oracle that diverges at the worst moment. EVM has Nexus Mutual and Sherlock. Solana had nothing.
Claims were manual and slow. Berm replaces the claim desk with an oracle: when the parameter breaks, the payout fires.
$114M
Mango Markets, 2022
An oracle-manipulation attack drained the treasury in a single block. Depositors had no parametric backstop -- recovery depended on a governance vote.
0.88
USDC, March 2023
USDC slipped to ~0.88 over an SVB weekend. Stable holders and LPs took live losses with no automated cover to pay out on the band break.
$8B+
FTX contagion, 2022
Counterparty failure cascaded into liquidations across lending markets. The risk was systemic; the protection layer simply did not exist.
Figures reference publicly reported events. Berm models these as parametric triggers -- see the backtest in the Cover Designer.
Five breakwaters
One structure for every wave
Each cover type is a block in the breakwater -- a distinct structure tuned to a distinct risk. All five are parametric: an oracle reads the parameter, the resolver settles, the pool pays.
ExploitCover
Massive concrete wall -- straight, solid.
Absorbs smart-contract exploit losses across integrated protocols.
- Trigger
- Sharp TVL drawdown paired with abnormal withdrawal patterns.
- Oracle
- Pyth price feeds + on-chain TVL feed
DepegCover
Sluice dam -- adjustable gates.
Pays out when a stablecoin loses its peg and holds off it.
- Trigger
- Price below 0.95 or above 1.05 sustained for N slots.
- Oracle
- Pyth + Switchboard dual feed
SlashingCover
Slate stone wall -- stacked natural stone.
Protects LST holders against validator slashing events.
- Trigger
- Validator slashing detected at epoch boundary.
- Oracle
- Solana native stake account feed
LiquidationCover
Steel lattice -- industrial infrastructure.
Absorbs part of a lending liquidation on Marginfi, Kamino or Solend.
- Trigger
- Liquidation event on a covered lending position.
- Oracle
- Protocol liquidation event + Pyth
OracleCover
Round lighthouse -- glow, sight.
Covers losses from oracle divergence and unfair liquidations.
- Trigger
- Pyth vs Switchboard price gap beyond a set threshold.
- Oracle
- Multi-oracle divergence detector
How the breakwater works
Four parts. One holds the line.
Auto-trigger. Auto-resolve. The protocol is built from four components that price risk, hold capital, settle claims and read the world -- with no claim desk in between.
References grounding the design
Nexus Mutual -- mutual cover market
Sherlock -- audit-grounded cover
InsurAce -- multi-chain pool whitepaper
Parametric trigger -- empirical literature
Risk underwriting engine
Per-protocol risk scores from TVL, audit history, code complexity and reputation set premiums automatically. Underwriters stake $BERM and earn on accurate scoring.
- TVL + audit + complexity + reputation
- Stake-weighted reputation
- Auto premium pricing
Token-2022 cover pool
Liquidity providers fund the cover pool and earn premium flow. Capital is pooled per cover type so risk is isolated and transparent on-chain.
- LP capital provisioning
- Premium distribution
- Isolated per-type vaults
Claim resolver
Oracle triggers settle automatically. Disputed edge cases escalate to a $BERM governance vote with slashing for bad-faith resolution.
- Auto oracle settlement
- Governance dispute vote
- Slashing on bad faith
Dual-oracle adapter
Pyth and Switchboard feeds are read together, with a Chainlink CCIP path for cross-chain reference. Divergence itself is a covered event.
- Pyth + Switchboard median
- Chainlink CCIP reference
- Divergence detection
The $BERM token
Premium flow secures the pool, the pool secures Solana.
$BERM aligns every actor in the protocol. Premiums fund a buyback and burn, providers earn the flow, underwriters stake their reputation, and holders govern the disputes that an oracle cannot settle alone.
50%
of cover premiums buy back and burn $BERM
LP
rewards plus premium flow for pool providers
Vote
governance over disputed claim resolution
Stake
underwriter reputation and scoring rewards
Deflationary by construction: as cover volume rises, more $BERM is permanently removed from supply.
When the storm comes, Berm stands.
Design a cover, fund a pool, or read the program. The breakwater is open.
Program ID AMenBCW8sgtx2VriEYzdJkTCsUBF6FGQy8PhcNh9p7pH (devnet )