The constant worry of all humans in every endeavor is the desire to be assured of one's safety. A helmet, wherever used, protects the wearer's head, as it is generally understood that head injuries are easily fatal. Thus, a helmet is very often a lifesaver when situations turn perilous. In the world of crypto, it is a well-known fact that the value of cryptocurrencies are very volatile, crypto traders and holders typically have to worry about fluctuations in their tokens' prices constantly. The need to protect people from exposure to unfavorable price fluctuations is what gave birth to Helmet.Insure.
Helmet is a decentralized protocol implemented on the Binance Smart Chain (BSC). It was developed using Options Trading Logic, and it seeks to permit anyone to create an insurance policy - which essentially is a price-fluctuation shield. These policies are structured such that any interested party can meet the terms of the policy and acquire a form of hedge against adverse changes in the price of a crypto asset. Helmet.Insure is designed not to be limited to any particular De-Fi platform, supporting cross-platform interoperability. Helmet is particularly useful to holders of crypto assets, who, rather than hold their tokens and risk depreciation of its value, can take an insurance policy that would cover any potential loss due to a downward change in the price during the policy period.
In line with the nature of Decentralized Finance, there is also a need to decentralize insurance such that any De-Fi user can provide a price-fluctuation hedge for other users, eliminating the need for centralized institutions. The Helmet protocol was developed to be a De-Fi tool that will enable anyone to accomplish that.
In the Helmet ecosystem, the insurance policy creator is called the Policy Supplier while the subscriber to the policy is called the Policy Holder. The policy specifies the percentage of the price of the asset covered.
Say, for instance, that a particular policy provides 50% coverage at a policy price of 2.25BNB, the premium is 0.1 BNB, the cost of 1 HELMET is 4.5BNB, and a holder ensures 1 HELMET token. If after some time 1 HELMET drops in value to 2BNB and the holder decides to activate the policy, he will get back 1 HELMET at 2.25BNB hence shielding himself from losing 0.25BNB. A detailed guide on how the Helmet insurance policies operate and the types of policies available can be found here.
Four basic elements define a policy:
Denominated Asset: this is the amount of a crypto asset that the policy supplier pledges as collateral for claims' settlement.
Underlying Asset: This refers to the crypto asset, paired to the denominated asset, that a policy buyer intends to insure at the payment of a premium.
Policy Price: This refers to the agreed exchange rate of the underlying asset relative to the denominated asset, which will be executed when the holder activates the policy.
Insurance Period: The duration of time in which the price insurance is active, allowing the holder to claim the policy.
A description of other helpful terms necessary to get you started in helmet.insure can be found here
The governance token of the Helmet.Insure ecosystem is HELMET. It has a total supply of 100 million and is issued by Helmet.Insure. 50 million HELMET tokens will locked in a smart contract for one year, while the remaining 50 million HELMET tokens will be issued within the first year of launch with the following token distribution:
--10% (10 million) for Initial Farm Offering (IFO)
--27.5% (27.5 million) earmarked for the HELMET community
--5% (5 million) is to be reserved for the Developer fund. It will be farmed and locked for one year.
--7.5% (7.5 million) will be used for partner with BSC ecological construction.
Holders of HELMET possess the right to purchase insurance policies with the token, participate in community votes and governance, and receive commission dividends.Currently, HELMET is listed on Pancakeswap, Hotbit Exchange, and MXC Exchange, with more listings to come. An overview of the market performance of the token can be seen in the project's Coinmarketcap page.
The Helmet team has partnered with PancakeSwap to create ample liquidity for the Helmet protocol, while simultaneously rewarding users with liquidity incentives. This system allows Helmet to bootstrap both liquidity and users through offering additional Helmet incentives. Currently, users can supply liquidity using Helmet/BNB or Helmet/ LONG bootstrapping both liquidity and policy minting.
For more information regarding Helmet liquidity mining refer to the following:
So far, the project has achieved the following milestones,
1. Very successful Initial Farm Offering (IFO) on Pancakeswap that exceeded sales targets.
2. Partnership with a top blockchain security company, Certik Foundation.
3. Helmet has been integrated into popular crypto wallets such as SafePal, MathWallet, Bitkeep etc
As part of ongoing efforts to grow the project, plans are to list on more exchanges and increase liquidity to all users.
Further details of upcoming activities and collaborations can be found here.
All in all, Helmet.Insure is a welcome addition to the options available to DeFi users. The potential of the project is immense.
For more information, take a look at the project's media channels.
Lots of Ethereum native protocols have been making cross-chain moves to the Binance Smart Chain (BSC). This is mainly due to high gas fees and network congestion on the Etherum. As Ethereum growth has slowed, the growth on the BSC has continued to be exponential. While the Ethereum network still boasts nearly 5x more Total Value Locked (TVL) the BSC is quickly closing this gap as ecosystem growth continues. It's not that the BSC will replace Ethereum, but it offers users an affordable and easy solution. For these exact reasons, we have seen an influx in ETH protocols such as 1Inch, Ren, and RAMP DeFi.
Ramp DeFi is a protocol focused on making lending and yield farming accessible to non-ERC20 holders. The protocol has integrated fERC20 tokens to ease the process of making cross-chain assets. This system allows for more comfortable and cheaper asset provision.
RAMP DeFi proposes that the staked capital of non-ERC20 token can be deposited on their platform in return for a stablecoin "rusd." This stable coin is backed by RAMP and issued on the Ethereum blockchain. rUSD holders can lend, borrow or exchange rUSD for other stablecoins on the Ethereum network such as USDT or USDC. This allows users to earn multi-yield, both on the Ethereum network and of the Ethereum grid.
With RAMP on the BSC network, the same mechanics are at play. Users will be able to stake their non-BEP20 token to get "rUSD." This BEP-20 rUSD is compatible with the BSC allowing users to swap for stablecoins. This cross-chain solution allows users to easily bridge their assets to both the Ethereum and BSC networks. Ramp on the BSC network helps reduce Ethereum usage on top of the reduced fees it offers users.
RAMP has launched its liquidity pools on Pancakeswap and JulSwap. The RAMP-BUSD liquidity pool launched on Julswap earns both trading fees and JULD tokens. The two teams have created these liquidity incentives to bootstrap initial liquidity and users to both protocols. Currently, RAMP DeFi only offers a cross-chain bridge for their native RAMP token, but they will soon bring the entire protocol to the BSC. It is important to note that liquidity providers on PancakeSwap do not receive additional liquidity incentives, solely the trading fees.
RAMP is a cross-chain solution that allows users to draw liquidity from staked assets. This novel system allow users to earn double yield rewards through staking Proof Of Stake assets (POS). This is the first of its kind in the DeFi ecosystem. In turn, this protocol encourages users to use DeFi applications on both the BSC and Ethereum networks even if they don’t initially have BEP-20 or ERC-20 tokens. Overall, as De-Fi continues to expand cross-chain solutions will be at the heart of the space. The team at RAMP protocol understands this and continues to innovate their protocol to further cater to users.
For those who wish to learn more details about RAMP DeFi and their bridge to the BSC refer to the following resources:
UBU Finance (Universal Binance Union) - is a decentralized platform that was launched on February 25, 2021. It integrates the most advanced DeFi applications with unique functions, such as deflation, benefit-sharing, and cross-chain interoperability.
UBU Finance platform aims to integrate multiple applications such as UFarm, UBank, NFTs, Lotterys, UPools, and Cross-chain interoperability. Of which, the UFarm and UBank applications were launched successfully.
A big part of the UBU Finance platform is UFarm, which provides exceptionally high APY for farmers and broadens the platform for all other applications. The user needs to provide liquidity to UBU on PancakeSwap to be able to join Ufarm. The liquidity rewards are distributed as follows:
80% farmed tokens shall be distributed to all Farmers while the remaining 20% shall be distributed equally to Development Fund and UFarm Referral Program. In each proportion, 25% shall be distributed to participants at once while 75% shall be locked for one year and distributed continuously block by block afterwards. This mechanism helps to stabilize the value of UBU Finance for serious investors.
UBU Finance offers a high level of security as users can sign transactions and interact with DeFi protocols without exposing their private keys. Also, UBU is currently being audited by one of the most reputed auditing company – CertiK. While audits aren't the holy grail of security audits, extensive audits from reputable companies help weed out smart contract risks.
The UBU team has successfully raised 100,000 BUSD from a private sale round called "Liquidity Seeds". The purpose of this fundraising round is to provide initial liquidity for the UBU token once listed on Pancakeswap. This liquidity pool is locked for six months, showing a long-term vision and commitment to project development from the UBU team.
3,000,000 UBU (equivalent to 5% of the total supply) was sold separately to community organizations and influential individuals on social networks with a commitment to support UBU Finance promotion. The price per UBU was 0.0333 BUSD.
Besides the apps launched, we also know an exciting application in the UBU ecosystem: the NFT (Nonfungible tokens). UBU Finance will launch its NFT market in the second quarter of this year. NFT (Nonfungible tokens) are having a moment. In recent weeks, notable investors Mark Cuban and Chamath Palihapitiya have signaled their growing interest in this corner of the crypto economy, adding fuel to a rally that was already red-hot.
It's tough to measure the total NFT market's size due to how these tokens are structured. Each NFT is a non-replicable digital asset. Because there's only ever one NFT, each asset is essentially its own market. The total value of NFT-based crypto art is now above $100 million, according to CryptoArt.io, which tracks the largest platforms dedicated to art sales.
The UBU team is also developing Cross-chain solutions. This feature will be launched in the third quarter of this year. This is key to the future of UBU as Cross-Chain technology is increasingly becoming a hot topic of discussion. It is seen as the ultimate solution for enhancing interoperability between blockchains. In Layman terms, Cross-chain Technology is an emerging technology that seeks to allow transmission of value and information between different blockchain networks.
Increased usage of established networks like Ripple, Bitcoin, and Ethereum, while a good thing, has given rise to many issues. The largest of which being economical and technical scaling limitations. As discussed above, most blockchain networks operate on isolated ecosystems as they address they try to resolve a unique set of needs. The chains operating in isolation have mostly made it impossible for people to enjoy the distributed ledger technology's full benefits. Cross-chain, technology seeks to solve all these issues by enabling interoperability between blockchains, thus making it easy for them to communicate with one another and share information.
Further information regarding UFarm and other applications could be found here.
Up to Quarter 1, the UBU Team has completed all their developments on schedule. The most notable developments were Liquidity Seeds' success, the release of UFarm + UBank applications, and the submission of their Smart Contracts for auditing.
Further information regarding future plans could be found here.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Helmet was developed using Options Trading Logic and it seeks to permit anyone to create an insurance policy - which essentially is a price-fluctuation shield.
The constant worry of all humans in every endeavor is the desire to be assured of one's safety. A helmet, wherever used, protects the wearer's head, as it is generally understood that head injuries are easily fatal. Thus, a helmet is very often a lifesaver when situations turn perilous. In the world of crypto, it is a well-known fact that the value of cryptocurrencies are very volatile, crypto traders and holders typically have to worry about fluctuations in their tokens' prices constantly. The need to protect people from exposure to unfavorable price fluctuations is what gave birth to Helmet.Insure.
Helmet is a decentralized protocol implemented on the Binance Smart Chain (BSC). It was developed using Options Trading Logic, and it seeks to permit anyone to create an insurance policy - which essentially is a price-fluctuation shield. These policies are structured such that any interested party can meet the terms of the policy and acquire a form of hedge against adverse changes in the price of a crypto asset. Helmet.Insure is designed not to be limited to any particular De-Fi platform, supporting cross-platform interoperability. Helmet is particularly useful to holders of crypto assets, who, rather than hold their tokens and risk depreciation of its value, can take an insurance policy that would cover any potential loss due to a downward change in the price during the policy period.
In line with the nature of Decentralized Finance, there is also a need to decentralize insurance such that any De-Fi user can provide a price-fluctuation hedge for other users, eliminating the need for centralized institutions. The Helmet protocol was developed to be a De-Fi tool that will enable anyone to accomplish that.
In the Helmet ecosystem, the insurance policy creator is called the Policy Supplier while the subscriber to the policy is called the Policy Holder. The policy specifies the percentage of the price of the asset covered.
Say, for instance, that a particular policy provides 50% coverage at a policy price of 2.25BNB, the premium is 0.1 BNB, the cost of 1 HELMET is 4.5BNB, and a holder ensures 1 HELMET token. If after some time 1 HELMET drops in value to 2BNB and the holder decides to activate the policy, he will get back 1 HELMET at 2.25BNB hence shielding himself from losing 0.25BNB. A detailed guide on how the Helmet insurance policies operate and the types of policies available can be found here.
Four basic elements define a policy:
Denominated Asset: this is the amount of a crypto asset that the policy supplier pledges as collateral for claims' settlement.
Underlying Asset: This refers to the crypto asset, paired to the denominated asset, that a policy buyer intends to insure at the payment of a premium.
Policy Price: This refers to the agreed exchange rate of the underlying asset relative to the denominated asset, which will be executed when the holder activates the policy.
Insurance Period: The duration of time in which the price insurance is active, allowing the holder to claim the policy.
A description of other helpful terms necessary to get you started in helmet.insure can be found here
The governance token of the Helmet.Insure ecosystem is HELMET. It has a total supply of 100 million and is issued by Helmet.Insure. 50 million HELMET tokens will locked in a smart contract for one year, while the remaining 50 million HELMET tokens will be issued within the first year of launch with the following token distribution:
--10% (10 million) for Initial Farm Offering (IFO)
--27.5% (27.5 million) earmarked for the HELMET community
--5% (5 million) is to be reserved for the Developer fund. It will be farmed and locked for one year.
--7.5% (7.5 million) will be used for partner with BSC ecological construction.
Holders of HELMET possess the right to purchase insurance policies with the token, participate in community votes and governance, and receive commission dividends.Currently, HELMET is listed on Pancakeswap, Hotbit Exchange, and MXC Exchange, with more listings to come. An overview of the market performance of the token can be seen in the project's Coinmarketcap page.
The Helmet team has partnered with PancakeSwap to create ample liquidity for the Helmet protocol, while simultaneously rewarding users with liquidity incentives. This system allows Helmet to bootstrap both liquidity and users through offering additional Helmet incentives. Currently, users can supply liquidity using Helmet/BNB or Helmet/ LONG bootstrapping both liquidity and policy minting.
For more information regarding Helmet liquidity mining refer to the following:
So far, the project has achieved the following milestones,
1. Very successful Initial Farm Offering (IFO) on Pancakeswap that exceeded sales targets.
2. Partnership with a top blockchain security company, Certik Foundation.
3. Helmet has been integrated into popular crypto wallets such as SafePal, MathWallet, Bitkeep etc
As part of ongoing efforts to grow the project, plans are to list on more exchanges and increase liquidity to all users.
Further details of upcoming activities and collaborations can be found here.
All in all, Helmet.Insure is a welcome addition to the options available to DeFi users. The potential of the project is immense.
For more information, take a look at the project's media channels.
