What is Helmet Insure?
Helmet.insure (HELMET) is a peer-to-peer (P2P) price-shield insurance protocol that was launched on Binance Smart Chain (BSC) in January 2021. The aim of the platform is to revolutionize option trading by offering user-friendly insurance policy wrapping.
The platform allows users to create insurance policies for any cryptocurrency asset in the market, providing protection against price fluctuations. Helmet operates a market-oriented policy trading system without complex mathematics. There are two types of policy on the platform: SHORT Tokens and LONG Tokens.
In March 2021, Binance provided strategic funding to Helmet to help the platform provide a more competitive option and insurance protocol for cross-chain and on-chain trading.
Helmet.insure was launched by anonymous developers who are passionate about redefining option trading for DeFi users. The platform's unique feature is its ability to provide an advance price-based insurance that can hedge price fluctuations and offer rewards simultaneously. Helmet specializes in providing price shield insurance for BSC assets, including diverse insurance policies for token holders and traders.
Users can have two roles on the platform: policy suppliers and policy holders. A policy supplier is the creator and seller of an insurance policy. Suppliers earn Helmet tokens as rewards for creating and selling orders to the market. On the other hand, policy holders buy insurance policies from suppliers. Once the policy matures, they can choose to claim or abstain from the insurance based on the swap price.
Helmet operates as a smart contract, ensuring that option tokens do not rely on oracles or admin and operate independently. It provides unique insurance policies that are designed by policy suppliers, who can flexibly assemble the parameters of an insurance policy. Anyone can participate in this market and earn rewards by depositing an underlying token asset.
Each policy option is endorsed at the nominal value held by users, eliminating counterparty risks and ensuring that the option holder can always purchase the underlying token. Additionally, Helmet has a mining aspect that provides extra features, and users can mine HELMET tokens.
The platform is open to all DeFi protocols, and users can earn rewards based on their activities within the platform. Helmet is an innovative insurance protocol that offers advanced price-based insurance, which is beneficial to DeFi users who are exposed to market volatility.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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