Both types of TIDAL tokens will be initially tradable as ERC-20 tokens, then token swapped to the Polkadot equivalent standard at a later date.
TIDAL cover tokens entitle the owner the right to receive a mutual coverage based payout in the case of the failure of covered protocols and assets; these tokens are a form of digital contract, and proof of coverage.
Cover token will have the following attributes:
Notional value: notional value of the cover provided. The amount the holder of the token will receive after triggering and resolving the mutual cover claim process.
Expiration Date: the last day in which protocol failure can trigger the mutual cover claim process.
Last Claim Date: the last day when the covered claim process can be initiated.
Last Payout Date: the last day when the cover token holder can redeem the payout from an approved claim payout.
TIDAL token is the governance token that will govern all aspects of TIDAL Protocol. Owners of these tokens will be able to submit and vote on protocol governance proposals, as well as assessing claims and voting on disputed mutual cover claims triggered by cover token holders, and decide the payout of emergency reserve capital for payment of claims and held in the TIDAL Treasure Wallet.