PancakeSwap Hosting $1,000,000 Helmet.Insure IFO

PancakeSwap is holding yet another Initial Farm Offering (IFO); this time, it is for the Helmet.Insure protocol for their native $HELMET governance token.

By
Rich
on
January 10, 2021
Category:
Project Insight

Helmet

Helmet will offer insurance on your coins in a way that protects them from price fluctuations. Unlike other insurance protocols Helmet will not solve the Code Attack Risk. However, the product can be used for hedging. This can be fine-tuned by adjusting various factors like:

  • type of insurance asset 
  • insurance period 
  • insurance prices
  • insurance usage scenarios 

For a far more in-depth explanation, click HERE


The $HELMET token will be used for governance purposes and will have a total (max) supply of 100.000.000 $HELMET (one hundred million).

The first 50 million tokens are to be released over the first year according to this scheme:

  • 10% (10 million) for IFO boarding plan
  • 27.5% (27.5 million) will be allocated to HELMET community members through mining and governance voting.
  • 5% (5 million) will be farmed and reserved for one year as the developer fund
  • 7.5% (7.5 million) will be used to partner with BSC ecological construction

The remaining 50 million $HELMET tokens will be sent to a 1-year time-lock contract. 

That's not all because by holding $HELMET tokens, you have the right to:

  • Buy insurance policy at helmet.insure as payment currency 
  • Participate in community governance and voting campaigns 
  • Receive commission dividends 



PancakeSwap IFO

The Initial Farm Offering (IFO) held by PancakeSwap will occur on January 13th  at 09.00 am UTC. There will be 10,000,000 $HELMET available for the sale. Just like previous IFO's held by PancakeSwap the buying will be done by creating PancakeSwap $CAKE / $BNB LP tokens, which can be created  HERE. Of course, you need to have $CAKE and $BNB in your wallet first.


As soon as the sale goes live you can go HERE and commit your LP tokens to buy the $HELMET tokens. After the sale is made, you can claim your tokens, and any left over funds. Any funds that exceed the set goal of 1 million USD will be returned to the investors. This is referred to as the “OVERFLOW” sale method. In the case of a sellout, the more money you put in, the more tokens you will receive. A large percentage of holdings vs. the total holdings will get you a higher percentage of the $HELMET tokens.

Suppose the full $1,000,000- USD allocation is raised on the sale. PancakeSwap will burn $500,000- USD worth of CAKE tokens forever.

For more info about the IFO you can check out the PancakeSwap medium post HERE




For more information, or if you wish to stay up to date on the project, check out their media and social media pages.

Website

Twitter

Telegram

PancakeSwap


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Rich

Richard is a multilingual writer, located in the Netherlands, husband and father, cryptocurrency and tech enthousiast enjoys long walks and bicycle rides. Fervent Binance Smart Chain projects promotor.