Covenant prioritizes security through smart contract audits conducted by reputable firms like Code4rena. The protocol also utilizes multi-signature (multisig) wallets for treasury management, although recent events have prompted a move toward even more decentralized governance structures.

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covenant

Q: What is the Purpose of Covenant?

The project aims to democratize access to financial leverage and high-quality gaming. By removing the threat of liquidations in DeFi and providing a Play-to-Earn RPG, it seeks to create a sustainable economy where users can grow their assets through both financial strategy and active gameplay.

Q: How Can I Participate in Covenant's Ecosystem?

Users can participate by playing the Covenant Child game (available on Android), providing liquidity to the Yield Fund to earn interest, or trading COVN tokens on supported exchanges. Community members can also contribute to the project's governance via Discord and X discussions.

Q: What Sets Covenant Apart from Competitors?

Unlike many P2E games that suffer from inflationary economies, Covenant integrates a sophisticated credit marketplace that provides external utility for the token. Its 'liquidation-free' leverage mechanism is a distinct technical advantage over standard lending protocols like Aave or Compound.

Q: What are the Risks Associated with Covenant?

Key risks include market volatility, lower liquidity on some exchanges, and the experimental nature of its 'liquidation-free' model. Additionally, recent leadership disputes in its partner networks (like Bittensor) have introduced regulatory and operational uncertainties that investors should monitor.

Covenant is a decentralized training framework for large language models that uses Bittensor networks to coordinate distributed training across heterogeneous computing resources connected via the internet.

What is Covenant?

Covenant (COVN) is a decentralized finance (DeFi) protocol and gaming ecosystem that bridges the gap between on-chain credit markets and strategic gaming. It primarily operates as a liquid credit layer that transforms digital assets into leverage or yield-bearing instruments. Additionally, the project powers 'Covenant Child', a blockchain-based strategic RPG that utilizes a Play-to-Earn (P2E) model, allowing players to earn rewards through character progression, exploration, and PvP battles.

How Does Covenant Work?

The protocol functions as a permissionless credit marketplace using a 'Latent Swap' AMM mechanism. It coordinates 'Leverage Coins' for borrowers (providing liquidation-free levered exposure) and 'Yield Coins' for lenders (serving as fully collateralized debt claims). In its gaming ecosystem, users earn COVN and Child tokens by registering NFTs acquired through gameplay into a GameFi system, which handles the mining and distribution of rewards based on in-game achievements and asset holdings.

What Makes Covenant Unique?

Covenant is unique for its 'liquidation-free' leverage model, which allows users to gain leveraged exposure without the risk of sudden margin calls common in traditional DeFi. It also features a dual-purpose ecosystem where financial instruments directly support a high-quality RPG gaming experience. By integrating with blockchains like Solana and TRON, it offers high-speed, low-cost transactions for both traders and gamers, distinguishing itself from more congested DeFi platforms.

Who Are the Founders of Covenant?

The project involves prominent figures in the decentralized AI and DeFi space. Samuel Dare (Sam Dare) is the founder of Covenant AI, the team responsible for significant technical milestones like the Covenant-72B model. While the core gaming team operates with a degree of decentralization, the project has garnered attention and technical endorsements from industry leaders such as Nvidia CEO Jensen Huang and venture capitalist Chamath Palihapitiya due to its advanced contributions to decentralized LLM training.

Latest News

What Key Events Have There Been for Covenant?

In April 2026, Covenant AI made headlines by exiting the Bittensor network, sparking a major industry debate over decentralization. Historically, the project achieved the 'largest decentralized LLM pre-training' with its Covenant-72B model. Other milestones include the launch of the Covenant Child mobile game on the Google Play Store, the establishment of a 30,000 BUSD rewards pool for early adopters, and a strategic partnership with Haechi Labs to enhance Web3 security and service integration.

Project Announcements

Recent updates focus on the migration of services to the Monad network to leverage parallel execution. The team also announced that the code for their core subnets (Templar, Basilica, and Grail) has been fully open-sourced to ensure community continuity following recent governance shifts.

Upcoming Events

Latest Airdrop

The project recently concluded its 'Round 2 Airdrop' and is currently focusing on Season 2 of its MET incentives. While specific dates for the next general COVN airdrop are TBA, participants in the Covenant sUSDz Yield Fund are eligible for ongoing 'Talent' rewards based on their liquidity provision.

ICO Time

The initial coin offerings for COVN were completed during the project's early launch phases in 2021-2022.

IDO Time

Completed; COVN was distributed via decentralized exchange offerings across several TRON and Solana-based platforms.

TGE Time

The Token Generation Event occurred in 2021, marking the official minting and distribution of the COVN supply.

Projects Announcements

Where to Buy Covenant?

COVN can be traded on several centralized and decentralized exchanges. Popular options include Bitget, Bitrue, and CoinSwitch. For decentralized trading, users can find liquidity on Raydium (for Solana-based COVN) or SunSwap (for TRON-based COVN), typically paired with USDT or native blockchain tokens.

Covenant Price

Daily Trading Volume

$10,995.78 (Subject to high volatility and liquidity fluctuations).

All-Time High

$23.58 (Recorded on September 7, 2022; currently trading significantly lower).

All-Time Low

$0.002088 (Recorded in early 2025).

Market Cap and Valuation

Market Cap

Approximately $546,434, ranking it around #4225 in the global crypto market.

Fully Diluted Valuation

Estimated at approximately $2.5 million based on a total supply of 500 million COVN tokens.

Covenant Price Prediction

Credible insights from sources like CoinMarketCap and financial analysts suggest that COVN's price is heavily influenced by the adoption of its 'Covenant Child' game and the resolution of recent governance disputes within the Bittensor ecosystem. While some media outlets highlight its potential for a 100x recovery if its AI infrastructure is successfully redeployed on new chains like Monad, most experts advise caution due to its high-risk profile and recent volatile market exits.

How to buy Covenant?

To purchase Covenant, follow these simple steps using the Bitget Wallet: Download the Bitget Wallet: If you haven't already, download the Bitget Wallet app from the official website or your app store. Create an Account: Open the app and create a new account by following the on-screen instructions. Ensure you secure your account with a strong password. Fund Your Wallet: Deposit funds into your Bitget Wallet by transferring cryptocurrencies or purchasing crypto using fiat currency through supported payment methods. Navigate to the Market: In the Bitget Wallet, go to the market section and search for COVN to view available trading pairs. Place Your Order: Select the desired trading pair (e.g., COVN/USDT), enter the amount you wish to buy, and confirm your order. Once the transaction is completed, COVN will be added to your wallet.

FAQ

What is the Purpose of Covenant?

How Can I Participate in Covenant's Ecosystem?

What Sets Covenant Apart from Competitors?

Is Covenant Secure?

What are the Risks Associated with Covenant?

Community Sentiment

32.78K Votes

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Disclaimer and Risk Warning: Some content on this page may be assisted or generated by AI and is for general reference only. For the most accurate and updated information, please refer to the official website of the project. Bitget Wallet values every partnership. If you notice any issues or inaccuracies, feel free to reach out to us at support.web3@bitget.com — we appreciate your feedback and will make improvements where needed.