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Summary of Helmet.insure
Key Points
- Helmet.insure is a peer-to-peer (P2P) price-shield insurance protocol launched on Binance Smart Chain (BSC) in January 2021.
- It allows users to create insurance policies for any crypto asset, protecting DeFi users against price fluctuations.
- There are two kinds of policies: SHORT Tokens and LONG tokens.
- Helmet received strategic funding from Binance in March 2021.
- The platform is founded by anonymous developers.
Unique Features
- Users can create and sell insurance policies, earning rewards in HELMET tokens.
- Policy
About Helmet.insure: Empowering a Safer DeFi Ecosystem
Introducing Helmet.insure (HELMET): A Revolutionary DeFi Insurance Protocol
Helmet.insure is a pioneering peer-to-peer (P2P) price-shield insurance protocol that debuted in January 2021 on Binance Smart Chain (BSC), revolutionizing option trading with its innovative, user-centric insurance policy wrapping solution.
Helm offers a pioneering solution, empowering users to craft bespoke insurance policies for any cryptocurrency in the market, thereby shielding DeFi enthusiasts from the volatility of price fluctuations. Notably, policy trading on Helm is market-driven, eschewing complex mathematical intricacies. The platform features two distinct types of policies: SHORT Tokens and LONG Tokens.
Helm adds a mining component to its hedging tool, enabling DeFi users to simultaneously engage in yield farming while trading. Notably, Helm supports a diverse range of tokens, including Ether (ETH), CAKE, and BNB. By connecting their wallets to the platform, users can seamlessly swap these tokens.
Helm received strategic funding from Binance in March 2021, thereby empowering it to offer a more competitive option and insurance protocol for seamless cross-chain and on-chain trading experiences.
The Visionaries Behind Helmet.insure: Meet the Founders
Helmet.insure is a pioneering Binance Smart Chain-based peer-to-peer protocol, conceived by anonymous innovators driven by a vision to revolutionize option trading for the DeFi community.
Unparalleled Excellence: The Distinctive Edge of Helmet.insure
Helmint envisions a pioneering platform where cryptocurrency traders and holders can create advanced price-based insurance products, effectively hedging against market volatility while offering rewards concurrently. As a specialist in providing price shield insurance for Binance Smart Chain (BSC) assets, Helmet caters to diverse insurance needs, tailored to the unique requirements of token holders and traders alike.
Additionally, users can assume dual roles, functioning as either a policy supplier or a policy holder.
A policy supplier assumes the role of creator and vendor of an insurance policy. In return for generating sell orders in the market, suppliers are incentivized with Helmet tokens as rewards. Conversely, holders purchase insurance policies from suppliers. Upon policy maturity, they are afforded the option to either submit a claim or opt out of the insurance, contingent upon the prevailing swap price.
Helm redefines the paradigm of option trading, empowering option tokens to operate autonomously as smart contracts, unencumbered by oracles or administrative oversight. Furthermore, it introduces a novel insurance framework, carefully crafted by policy providers, allowing for the flexible configuration of policy parameters. This open market invites anyone to participate, offering rewards in exchange for depositing underlying token assets.
Each policy option is underwritten at its nominal value, thereby mitigating counterparty risks and guaranteeing that the option holder can always acquire the underlying token at the specified price. Furthermore, Helmet incorporates a mining component, which introduces additional features, allowing users to mine HELMET tokens and reap the associated benefits.
Helm is also receptive to integrating with all DeFi protocols, allowing users to accrue rewards in proportion to their engagement and activities within the platform.
The Security Architecture of the Helmet.insure Network
Helmet.Insure is erected upon the Binance Smart Chain, leveraging the robust proof-of-stake (POS) consensus mechanism to ensure a secure environment. Furthermore, the platform is reinforced by on-chain monitoring and has successfully cleared numerous stringent security audits.
Where to Acquire Helmet.insure (Helmet) Tokens
Helmet.insure (HELMET) is listed on multiple prominent exchanges, including PancakeSwap, MXC, Hoo, and OpenOcean, facilitating seamless buying and selling. The token can be traded against a diverse range of cryptocurrencies, notably Tether (USDT), Binance Coin (BNB), and Binance USD (BUSD).
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The Circulating Supply of Helmet.insure (Helmet) Coins: An Overview
HELMET, the governance token issued by helmet.insure, boasts a total supply of 100 million tokens. As of April 2021, a significant 28% of the total market supply is currently in circulation. The HELMET token is slated to undergo a multi-year distribution schedule, with a substantial 50 million tokens earmarked for distribution in the inaugural year.
The token distribution is allocated as follows: 10% is reserved for the IFO boarding plan, while 7.25% is designated for HELMET community members. The remaining allocation is as follows: 30% can be earned through policy mining in the inaugural year, 50% through LPT mining in the same period, and 20% through governance or voting on proposals in the first year. Furthermore, 5% is set aside and reserved for one year as a developer fund, with the remaining 7.5% dedicated to partnerships with BSC ecological construction, specifically for the Vault.