> For the complete documentation index, see [llms.txt](https://docs.firelight.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.firelight.finance/risk-consortium.md). # Risk Consortium The Risk Consortium is the independent body that validates covered incidents. Without it, payouts would depend on either automated rules (too rigid for the realities of exploit classification) or a single administrator (too centralized to trust). The consortium sits between those extremes: independent domain experts applying published coverage criteria to on-chain evidence. ### Confirmed members The consortium launches with five confirmed members: * Hypernative * Cyfrin * Credora * GFX Labs * Native ### What you'll find here * [Role of the Consortium](/risk-consortium/role-of-the-consortium.md) defines the consortium's scope, responsibilities, and limits. * [How Claims Are Assessed](/risk-consortium/how-claims-are-assessed.md) details the validation and voting procedure under the auto-inclusion model. * [Becoming a Member](/risk-consortium/becoming-a-member.md) describes eligibility and the terms of participation. ### Why the consortium exists Exploit classification is judgment-heavy: * Was a governance outcome a malicious exploit or a legitimate vote? * Was a liquidation cascade a mechanism failure or market behavior within design parameters? * Did an oracle deviation reflect manipulation or ordinary cross-exchange drift? These are not questions a smart contract can answer on its own. They require technical review of on-chain evidence by people who understand the underlying protocols. ### What the consortium is not The consortium is not a backer or risk-pricing authority, a program operator or fund custodian, a designer of coverage criteria or pricing, or a marketing arm of Firelight. Its authority is limited to applying existing coverage criteria to reported incidents and voting on whether those incidents qualify. It does not set premiums, modify terms, hold collateral, or execute fund transfers. ### How decisions flow Because Firelight uses auto-inclusion, the consortium does not wait for program operators to file claims. Once an incident is detected and reported: 1. An independent security partner delivers an exploit report on-chain. 2. The protocol auto-includes every active, in-scope Cover Token exposed to the incident. 3. Consortium members validate the incident against the published coverage criteria and declare any conflicts. 4. Members vote Approve or Deny. A 3-of-5 quorum is required. 5. If the quorum and approval threshold are met, the decision is signaled on-chain and triggers the payout waterfall. ### Where the consortium appears in the rest of the docs * [Claims Process](/for-program-operators/claims-process.md) shows the consortium's role from the program operator's perspective. * [On-Chain Components](/protocol-architecture/on-chain-components.md) documents the contracts the consortium interacts with. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.firelight.finance/risk-consortium.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.