CypherGoat Pro Coverage Terms

These terms describe the coverage CypherGoat provides on trades placed through the CypherGoat Pro terminal ("Pro"). By placing a trade through Pro, you agree to the terms set out below.

Coverage is a contractual reimbursement commitment funded from CypherGoat's own reserves and from collateral posted by partner exchanges. It is not a regulated insurance product and CypherGoat is not an insurance undertaking.

1. What is covered

If an exchange listed on the terminal fails to complete a transaction, or withholds funds citing a verification issue without providing a valid justification, CypherGoat will reimburse the affected member up to the then-available balance of the coverage pool, subject to the exclusions and process described below.

2. Exclusions

Coverage does not apply to, and CypherGoat is not liable for:

• funds originating from mixers, tumblers, or sanctioned addresses;
• funds frozen pursuant to a request from law enforcement or a court order;
• funds sent to an incorrect address;
• funds stolen from a member's personal wallet; and
• claims submitted more than four (4) weeks after the trade was created.

3. Claims process

To submit a claim, contact CypherGoat Pro support via the in-terminal chat within four (4) weeks of the trade, providing the trade ID and a description of the issue. CypherGoat will attempt to mediate the matter with the relevant exchange. If the matter remains unresolved and the exchange has not provided a valid justification, CypherGoat will process reimbursement up to the covered amount, typically within one week of a claim being approved.

4. Coverage capacity

CypherGoat backs coverage from two sources, applied in this order:

1. Layer 1 — partner collateral. Each listed exchange posts a security deposit held at an on-chain address controlled by CypherGoat and ring-fenced to that exchange. A claim against an exchange is paid first from that exchange's own deposit. One exchange's failure never draws on another's deposit.
2. Layer 2 — the Pro Reserve. A dedicated on-chain reserve held separately from CypherGoat's operating funds, used to cover any shortfall between an exchange's deposit and the Covered Amount.

Both layers are published with their on-chain addresses on the proof-of-reserves page and can be verified independently at any time.

Capacity is reserved, not promised. When your trade is created, capacity equal to your Covered Amount is locked against Layer 1 and Layer 2 and cannot be allocated to any other trade. It is released when your trade settles or your claim is resolved. The terminal will not create a trade for which capacity cannot be locked; where capacity is insufficient for the full trade size, the terminal will offer a reduced Covered Amount, a split across exchanges, or decline to quote — and will tell you which.

The consequence is that CypherGoat's total outstanding coverage never exceeds the funds visibly held. There is no scenario in which simultaneous valid claims exceed available capacity, and therefore no queue and no pro-rating.

CypherGoat may raise the $50,000 per-trade ceiling as reserves grow. Any increase applies to trades created after it takes effect.

5. General

These terms apply solely to trades placed through the CypherGoat Pro terminal. Coverage offered on cyphergoat.com is governed separately by CypherGoat Shield. CypherGoat may amend these terms at any time; the terms in effect at the time a trade is placed apply to that trade.