What is Shield Finance (CHT) | What is Shield Finance token | What is CHT token

What is Shield Finance (CHT) | What is Shield Finance token | What is CHT token

Shield Finance (CHT) is a Multi-Chain DeFi Insurance Aggregator that allows users to buy protection against major market crashes due to black swan events (hacks, exploits, rug pulls, sell-offs).Shield utilizes a proprietary aggregation engine to provide custom insurance packages for investor needs. In this article, we'll discuss What is Shield Finance (CHT) | What is Shield Finance token | What is CHT token

In this article, we'll discuss information about the Shield Finance project and CHT token

Shield Finance is a Multi-Chain DeFi Insurance Aggregator that allows users to buy protection against major market crashes due to black swan events (hacks, exploits, rug pulls, sell-offs). Incubated by Master Ventures (MV Fuel), Shield utilizes a proprietary aggregation engine to provide custom insurance packages for investor needs.

DeFi’s Explosive Growth

The cryptocurrency market is experiencing its biggest bull run in history. And while comparisons to 2017’s frenzy are aplenty, the  institutional investments rolling in this time around indicate that crypto is here to stay. Coinciding with crypto’s bull run is DeFi’s incredible growth. With over  $80 billion locked in DeFi protocols as of March 2021 — most of it fueled by retail investors — it’s only a matter of time until the “big money” begins taking this new world of finance seriously.

The Problem

The attractive returns investors gain from storing/staking their assets on untested DeFi protocols make the industry a goldmine for malicious actors.

As a result, hacks and exploits are commonplace in DeFi. So common that hackers stole  $120 million from just 15 attacks in 2020 alone. Moreover, the prevalence of rug pulls (founders of a protocol stealing the assets locked on their platform) and various scams in the industry make DeFi a risky, double-edged sword for new investors.

The Solution

To protect your assets in DeFi the same way you would traditionally: insurance, specifically, DeFi insurance. The issue? Most DeFi insurance companies only protect you against specific types of risks.

For example, some only protect you against smart contract hacks, while others only shield you from rug pulls. Which means you’d have to buy multiple insurance packages to cover all your bases.

This is where Shield Finance comes in. Think of it like the Skyscanner for DeFi insurance; Shield Finance utilizes a proprietary aggregation engine to provide custom insurance packages for investor needs. Shield Finance allows users to buy protection against multiple major black swan events (hacks, exploits, rug pulls, sell-offs).

More interestingly, the SHIELD token enables governance and provides staking rewards at 30% stable APY. However, the most important feature of the SHIELD token is the “buy & burn” program. Every quarter, it redirects 50% of fees generated by users to buy the SHIELD token on the open market & burn it, which results in a permanent reduction of supply.

Shield Finance Token Swap

CHT to SHIELD at 1:1 rate

  1. We will deploy a new contract for SHLD token.
  2. We will retire the old contract for CHT token.
  3. We will give current CHT token holders the same amount of SHLD tokens (1:1 rate), based on a snapshot taken at 2021–03–17 12:00:00 UTC.
  4. We will close the current liquidity pool for CHT & reopen a new one for SHLD.

The swap process will be automatic — you don’t need to do anything.

Please note that it will take 1–2 weeks between closing the current liquidity pool & reopening a new one. We understand that you might be concerned — please rest assured that we will complete the swap as described above.

How and Where to Buy CHT token ?

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021) Next step - Transfer your cryptos to an Altcoin Exchange

Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase CHT from the exchange, website: https://shieldfinance.io.

The top exchange for trading in CHT token is currently ..........

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once CHT gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

https://www.binance.com  ☞ https://www.bittrex.com  ☞ https://www.poloniex.com  ☞ https://www.bitfinex.com  ☞ https://www.huobi.com

Find more information CHT

WebsiteWhitepaperSource CodeSocial ChannelSocial Channel 2Social Channel 3Message BoardCoinmarketcap

🔺DISCLAIMER: The Information in the post isn't financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you're a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

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