Helmet Insure and Multiplier Juice Mining Rewards Through Yield Farming Campaign

Helmet Insure brings incredible innovation to yield farming, now offering yield farmers the ability to yield farm call option tokens.

By
John Tunney
on
June 30, 2021
Category:
BSC News

Yield Farming Innovation 

Helmet Insure has recently partnered with Multiplier, offering a month-long campaign with a massive dual mining bonus and huge rewards. The new campaign provides a ton of value to investors, notably a straightforward way to yield farm utilizing a call option.  On June 28th, Helmet Insure announced the news through their Medium article explaining what the campaign entails. 

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Before jumping in and going through the campaign, it may be worthwhile to go over some key points for those new to Helmet Insure and Multiplier. The Multiplier protocol has two tokens: MXX, which runs on the Ethereum network, and the $bMXX token, which runs on Binance Smart Chain (BSC) and is featured in the campaign with Helmet Insure. 

Helmet Insure also has its own Binance Smart Chain token, $HELMET. $hbMXX is a new token that will act as a call option for $bMXX. 


Yield Farming a Call Option ($hbMXX)

The innovative campaign brought to investors by Helmet Insure and Multiplier begins with users acquiring $hbMXX. The $hbMXX call option token can be claimed during the $hbMXX flash mining event, which begins June 30th at 00:00 SGT. NOTE: The flash mining event for $hbMXX will only last for 14 days.

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So how does $hbMXX work, and why would investors want to mine it? Well, $hbMXX, as stated before, acts as a call option for $bMXX. There will be a total supply of 3636 $hbMXX, and the coin will expire on July 29th at 00:00 SGT. According to the Helmet Insure, the reasonable activate price: $bMXX equals $20 BUSD.

Let’s say, for example, $bMXX becomes worth 30 BUSD before the expiration date expires. Investors could then swap 20 BUSD + 1 $hbMXX in exchange for 1 $bMXX, and net 10 BUSD in profit. The investor is essentially mining a call option, which is why there is an expiration date.

Helmet Insure warns not to trade heavily on $hbMXX because, as their medium article states, “if $bMXX fails to be worth 20 BUSD, $hbMXX would just be used as a short-term mining shovel and a souvenir token.”
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More Rewards!

Amazingly enough, the benefits don’t end there. Helmet Insure also looks to host a $hbMXX-$HELMET LP mining event. The rewards are $20,000 in $bMXX & $20,000 in $HELMET. The start date begins July 1st at 00:00 SGT and will last 14 days. The innovation that Helmet Insure is bringing to Binance Smart Chain network is just tremendous. It should be a super exciting event, so make sure you’re prepared to participate if looking to invest! This campaign ties yield farming and options together in a novel fashion. Users will be able to speculate on the price increase of $bMXX while simultaneously earning yield if the option token is LPed with $HELMET.


What is Helmet Insure?

Helmet is a peer-to-peer price insurance protocol ran on BSC. The project is deep-rooted in option trading logic. Helmet.Insure is a tool for advanced Decentralized Finance (DeFi) users who have a strong understanding of how financial options work and enough exposure in DeFi for it to make sense to hedge a portion of it. The protocol leverages options trading for its decentralized insurance offering. To learn more about how Helmet.Insure works, click the link here!

Follow Helmet on their Socials: Website | Twitter | Medium | Discord | Telegram |


What is Multiplier? 

Multiplier is an algorithm designed to bring unique lending and borrowing opportunities to the Binance Smart Chain. Flash loans, for example, are a service that Multiplier looks to provide crypto investors. The protocol is forked and designed from Aave and uses their BEP-20 token $bMXX for governance and cross-chain use. 

Find Multiplier at the following socials: Website | Twitter | Medium |

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John Tunney

John Tunney is an accomplished analyst and crypto enthusiast. The UCLA alum has been actively reporting and blogging for 3 years, and has a passion for all things finance.

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