What is Helmet.insure (HELMET) | What is HELMET token

What is Helmet?

Helmet is a peer-to-peer price-shield insurance protocol on BSC ( Binance Smart Chain), originated from option trading logic. Helmet allows everyone to create insurance policy of any cryptoasset easily in the market, protecting DeFi users against the risk of price fluctuations.

Token distribution：

HELMET (Helmet.insure Governance Token) is a governance token issued by helmet.insure. The total supply is 100 million.
The HELMET token will witness a multi-year schedule, with the first year of a total of 50 million tokens distribution. Details :
10% (10 million) for IFO boarding plan
7.5% (27.5 million) will be allocated to HELMET community members.
30% can be earned through policy mining in the first year
50% can be earned through LPT mining in the first year.
20% can be earned through governance or vote on proposals in the first year.
5% (5 million) will be farmed and reserved for one year as developer fund
7.5% (7.5 million) will be use for partner with BSC ecological construction as Vault

Features：

Redefine Option trading. Option tokens do not rely on the Oracle or the Admin, but operate independently as a smart contract.
Market-oriented without complex mathematics. Types of insurance are designed by policy suppliers, allowing them to flexibly assemble the parameters of insurance policy. Anyone can participate in this market and earn rewards by simply depositing an underlying token asset.
Each policy (option) is endorsed at the nominal value held by users, which eliminates counterparty’s risk and ensures that the option holder can always purchase the underlying token;
Add the mining part in hedging price vilotation risks. SHORT Token (get by supplying policy) and HELMET can be used in mining HELMET.
Open to all defi protocols. Partners of helmet could share users traffic in the whole ecosystem.

Why Helmet？

In traditional financial market , derivatives such as options has been shown as effective in hedging the risks of market volatility. But the market lack transparency and better infrastructure to improve efficiency. Considering that assets with high liquidity were eligible to be designed as options products, “The Options” became a unique tool to serve commodity traders.

With DeFi’s infrastructure, anyone has right to price an asset on SWAP with unlimited liquidity. What makes us thinking is that if there’s a tool or a platform where a crypto trader or holder could simply issue an advanced ‘price based insurance’ which could hedge price fluctuation and get rewards at the same time. Such things could help DeFi users and traders to reasonably evaluate their holding and risks.

We expect a picture that anyone in DeFi world, instead of centralized institutions, could create hedging tool for others at any time.

It’s time to redefine"Option".

Introduction

Helmet is a peer-to-peer insurance protocol written by option trading logic, which allows anyone to create any insurance policy easily in the market**.**

Unlike other insurance products you may have used, Helmet does not solve the problem of “Code Attack Risk” but allows DeFi users to be protected against the risk of price fluctuations.

Helmet.insure, developed on BSC ( Binance Smart Chain), specialize in providing price-shield insurance for BSC assets. The types of insurance depends on token holders and traders.

Helmet offers insurance suppliers the right to “LOGO” modules by four elements——including insurance usage scenarios, type of insurance asset, insurance period, and insurance prices, allowing suppliers to flexibly assemble the types of insurance to sell and giving a variety of hedging strategies to the market.

In order to brief how to use the product, we have developed several insurance products as examples : “Cover 100% up” , "Cover 50% off ".

There are two roles in Helmet eco, Policy Supplier and Policy Holder. Supplier is the creator & seller of insurance policy. When they make the selling order to market, they could earn a little stable Helmet token reward. Holder is the buyer of insurance, and they could get the policy by paying to Supplier. When the policy mature, they could choose to claim or abstain the insurance based on the SWAP price. For example, Peter bought a 1 month of "Cover 50% off " insurance of A token, in this period, the price of A dump 50%, then Peter could claim it and earn a premium to hedge his lose.

How does Helmet work?

Policy Supplier

Policy Supplier publish an insurance policy for sale by deposit the denominated assets and get SHORT Token.

We encourage project teams themselves or Token holders of project to become Suppliers to show reasonable expectation of token price for users.

How to become a Supplier

Ready denominated asset, choose the insurance type (cover up or off)
Price the premium
Publish insurance policy by depositing denominated assets
Get back the denominated assets or get the insured assets from buyers after they activate the policy

Benefits

Cover up:

Provide insurance for LPs, encourage more people provide liquidity
Earn premium
Participates in SHORT Token mining by staking the Short Token

Cover off:

Provide a bottom price of Token for users
Avoid the underlying assets(object be insured)liquidity provider’s impermanent loss
Earn premium
Participates in SHORT Token mining by staking the Short Token
Another way to buy insured assets at a reasonable price with earning premium when the token’s liquidity is low.

Policy holder

Policy holder could get LONG Token to avoid the price dump loss when they “farm”.

How to become a holder

Buy a cover up or cover off policy in the market

Benefits

The insured asset’s price will be protected in policy time period
When the price of insured assets higher or lower than the policy set price, holders could activate the policy to claim.

Risk

If holders do not activate the policy, they would lose the premium

Example

Ryan who holds BNB, wants to participate in LPT（Liquidity provider Token）mining, but he worries about the HELMET dump. So he needs a hedging tool.

If 1 HELMET is equal to 4.5 BNB. He spends 0.1 BNB to buy a cover 50% off policy at 2.25 BNB on Helmet.insure. A week later, Ryan decides to stop mining and withdrew HELMET, finding that the HELMET dump to 2 BNB, so he activated the policy. Correspondingly, he could swap 1 HELMET for 2.25 BNB, avoiding the loss of 0.25 BNB by paying only 0.1 BNB premium.

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