When an unanticipated inconvenient event such as a car accident or a natural disaster occurs, many affected people often realize that they cannot deal with sudden financial emergencies. Traditionally, the insurance industry arose because of the need to protect against such life's uncertainties, ultimately catering to human nature or loss aversion.
Generally speaking, insurance requires two parties to function properly. First, there's an individual/group of individuals who put their resources together to provide a pool of funds that can be drawn from, the other is an interested party who pays a token (fee) to be given guaranteed financial coverage if a specified unwanted incident happens in the future.
While there are ample examples of insurance platforms for physical assets and fiat, the insurance industry was almost nonexistent for owners of digital assets and users of decentralized finance. The rapid blossom of DeFi equally attracted hackers who saw it as a new market to carry out their malicious enterprise. When such hackers successfully carry out an attack, affected DeFi users are often left to grapple with huge losses. To protect the DeFi community from exposure to future losses due to hacks and other vulnerabilities, initiatives to offer insurance began to spring up, one of which is Soteria Finance.
Soteria Finance is a mutual insurance platform developed on the Binance Smart Chain (BSC). It was launched on January 13, 2021 and its goal is to shield members of the DeFi community from exposure to losses. This is a result of arising hacks and compromised smart contracts across the entire De-Fi ecosystem. Soteria Finance is made up of four core parts: risk protection fund pool, claim assessment, risk assessment, and governance. In line with the core goal of decentralization, it is wholly owned by members of its community and anyone can contribute to the pool of funds.
The Soteria platform has a governance token, SOTE. Each policy is priced in SOTE, while settlement of claims are done with Binance Chain token BNB. Users can stake their SOTE tokens for several purposes, such as assessing and approving claims, determining a smart contract's safety, or projects to be insured. While SOTE only circulates within the Soteria platform, users who stake SOTE tokens can also mine wrapped SOTE tokens, WSOTE, which can be traded across different platforms. WSOTE is a standard BEP20 token, and exchanges between SOTE and WSOTE is in the ratio of 1:1.
The community's pool of funds forms the capital from which insurance claims are settled. Also, 50% of the funds purchased by a policyholder are committed to the pool. For each contract, a certain amount of SOTE is pledged. When a claim is successful, the SOTE pledged in the contract will be burned to make the settlement. If the amount of SOTE promised for the contract is insufficient to cover the claims, additional funds are drawn from the pool to make it up. In this way, there's always a guarantee that every successful claim will be settled.
To become a member of the Soteria community, payment of a membership fee of 0.1BNB is required. Once the fee is successfully paid, a member can perform other functions such as staking; swaps between BNB, SOTE, and WSOTE, buy insurance, make claims, evaluate the users' claims, etc.
A detailed step-by-step guide on becoming a member, performing swaps, buying insurance etc. can be found in this manual.
Ever since its launch, Soteria Finance has enabled insurance services for projects such as BLINK entertainment platform, BakerySwap, Sphinx Protocol, Bscex, dForcenet, DittoMoney, ForTubeFi
The platform has exceeded 8,000 members with an active mutual cover amount of over $10,000,000, which are rapidly growing daily.
Binance Smart Chain is a rapidly expanding DeFi ecosystem. As more developers build on BSC, there is a need to have a robust insurance platform that will help the BSC community mitigate the inherent risks of smart contract vulnerabilities and hack attacks. Soteria Finance is an insurance platform with so much promise. As it expands its platform's functionality, the Binance Smart Chain network will increase utility and utilization, creating a space for Soteria's rapid growth.
More on Soteria Finance.
Decentralized finance or DeFi, for short, has emerged over the last year, building significant momentum over the year as the Total Volume Locked in the sector has surpassed over $35 billion in comparison to $1 billion in February last year.
Newer platforms like Fusion and Fantom are evolving the DeFi sector with interoperable and scalable solutions such as liquid staking, cross-chain swapping, and more. Fusion’s DCRM technology and the Fantom foundation’s DAG-based smart contract platform are expected to grow the Defi sector tremendously.
Both the networks aim to allow users to execute sophisticated financial functions while solving the scalability and interoperability issues of existing blockchain solutions, making way for the Internet’s new age.
Founded in late 2017, the Fusion project proposed establishing a platform-level public chain where the tokens’ private keys on multiple blockchains can be securely moderated in a distributed fashion using its proprietary DCRM solution.
At the core of the Fusion project’s design is a distributed control rights management system (DCRM), smart contracts creation, and hierarchical hybrid consensus mechanisms (HHCM). The project’s strategy is meant to catalyze the emergence of the Internet of Values.
The Fusion project implements HHCM to ensure unpredictable randomness of book-keeping nodes, hence bolstering the system’s security and functionality.
The HHCM enables the following for the Fusion project.
The Distributed Control Rights Management protocol at the heart of Fusion transfers digital assets control to the network’s decentralized nodes management. The distributed generation and storage of private keys on the Fusion network control the access of private keys. Hence no single node on the network can gain control of the digital assets.
Fusion also utilizes crypto-asset mapping. Crypto-asset mapping actively generates tokens used for bookkeeping on the network for controlled objects. Therefore, tokens on the network can freely interact with mapped assets. Moreover, Fusion has also implemented distributed control with its Lock-in and Lock-out mechanism.
With the lock-in and lock-out process, users can simply validate asset ownership by generating a private key with the distributed sharding algorithm found in the DCRM. Users transfer the control of their assets to the DCRM through a centralized management framework. After the transference of authority is completed, a smart contract will update the user’s account on Fusion.
The Fusion foundation was introduced by DJ Qian, the CEO of a popular blockchain incubator, BitSE. BitSE was nominated as the top fintech startup globally and awarded with the year's most powerful blockchain infrastructure. BitSE has also led to the establishment of VeChain and QTUM.
Most of Fusion’s success can be attributed to its technology and the open-source community behind it. The developer community has actively improved the platform’s protocols and features. Fusion has a group of honest developers called the FOSC. The group comprises some of the best open-source developers, translators, designers, and more.
The DCRM has several use-cases for storing cryptocurrencies. By combining DCRM with the ability to validate asset ownership, Fusion inherits a diverse set of use-cases.
Based on Fusion DCRM technology, Anyswap is a unique, completely decentralized, cross-chain swap protocol that provides users with automated pricing and a sophisticated liquidity system. The Anyswap decentralized application is compatible with notable blockchains such as Fusion, Binance Smart Cain, Ethereum, and Fantom, making it the first true cross-chain DEX.
Anyswap acts like a decentralized cross-chain bridge. Users can deposit any coins into the protocol and mint-wrapped tokens in a decentralized ecosystem. Users can also instantly swap from one coin to another without any risks to anonymity or privacy. Additionally, Anyswap also offers a liquidity provider that adds and withdraws liquidity into swap pairs on the application.
Furthermore, Anyswap exchanges different pairs on each of its supported blockchains. The newer version of Anyswap will offer direct pairings in addition to pairings with base coins of Fusion, Ethereum, Fantom, Huobi Eco Chain, or Binance Smart Chain.
Note that Anyswap users have to pay the gas fee for the respective blockchains they deal with. Also, users have to pay 0.4% of the sum they transfer, where 0.3% is assigned to liquidity providers, and 0.1% goes to Anyswap.
Based on Fusion’s DCRM technology, Chainge offers instant coded financial services that span multiple blockchains such as Ethereum and Binance Smart Chain. With zero investment required, users can freely leverage power-coded finance services by using the free tokens provided to them for joining the early adopter’s waiting lists. No upfront investment is required to leverage the power of coded financial services as users can utilize free tokens provided for joining an early-adopters waiting list.
Interestingly, users can seamlessly access services like margin trading, loan acquisitions and easily trigger digital financial instruments' liquidation. Additionally, users can access a myriad of wealth management features like self-customized crowdfunding or value distribution formulas through Chainge’s sophisticated yet user-friendly interface.
Users can also provide financial services as a coded bank by providing loans, escrow and protect their friend’s account’s security with multi-sig services. Chainge simply banks the unbanked and allows users to build their own digital bank.
It should be noted that Chainge is invite-only at the moment based on POIP, but you shouldn’t worry because you can click on this link and use my referral in order to get some Chainge tokens, (thank you).
Fusion’s technology is easily one of the most sophisticated systems existing in the cryptocurrency market. The FSN token is an excellent investment based on its use-cases, its solution to interoperability, scalability, and usability. By investing in FSN, you are investing in its adoption.
Although the token is ranked at 430 by Market Capitalization, the token has gone up in value at the time of writing, priced at $0.75. Fusion token accumulates a market cap of over $36.8 million with a trading volume of almost $16.5 million.
Moreover, the token has taken a bullish run after breaking the resistance level at $0.6 after 3.5 months. It’s plausible that the token will go through price corrections. For a project of this level and activity, the price is considerably low. However, paired with the ideal tools, you can make this investment the right decision.
https://coinmarketcap.com/currencies/fusion/
Fantom strives to stand out from the conventional block ledger-based storage infrastructure by employing a sophisticated DAG-based protocol called the Lachesis Protocol.
The Lachesis protocol operates on the Fantom Opera chain. It intends to enable applications built on top of the blockchain to experience instant transactions and negligible transaction costs for users across the board. The Lachesis protocol allows Fantom’s mission to deliver an interoperable and scalable solution to the world.
Fantom has proven to achieve a transaction time of under two seconds. Moreover, Fantom can process thousands of transactions per second to scale to hundreds of nodes on the network.
Fantom delivers the first DeFi stack built on top of an aBFT consensus mechanism, making it the fastest, cheapest, most reliable, and most secure platform in the ecosystem. Users can use their FTM to mint fUSD and access DeFi tools, use their fUSD to trade synthetic assets, or lend it to earn interest and borrow synthetic tokens. Let us discuss some of the core features of the Fantom ecosystem.
fUSD is a stablecoin on the Fantom network that serves as the gateway to Fantom’s Defi Platform. Users on the Fantom network can easily mint fUSD by locking up their FTM. Moreover, fMint also allows users to use fUSD as collateral to mint synthetic assets.
Users can instantly buy synthetic assets from the ease of their Fantom wallets. Users can use their FTM or fUSD to trade over 170 different assets and tokens, including fBTC, fETH, and other notable assets.
Users can seamlessly lend FTM and fUSD to the liquidity pool and earn passive interest on their capital. Moreover, users can use fUSD to lend synthetic assets and trade on fSwap from their Fantom wallets’ ease.
The Lachesis Protocol at the core of Fantom is an aBFT consensus algorithm proposed by the Fantom team. The aBFT consensus algorithm enables the following features:
The Lachesis Protocol essentially stores a Local Acyclic Directed Graph that comprises event blocks, each composed of transactions on the network. The DAG then monitors the happen-before relation between transactions and computes the exact final order of independent transactions on each node.
Additionally, The Lachesis Protocol dramatically saves time by making validators on the network periodically exchange the monitored transaction and events with nodes. Interestingly, Fantom also employs the proof of stake consensus protocol to secure the network from potential Sybil attacks with a minimum requirement of 3,175,000 FTM from validators.
Founded in 2018, Fantom operated from Seoul, South Korea, as a blockchain developer team striving to develop a new consensus algorithm. The Fantom Foundation team, led by their CEO, Michael Kong, comprises engineers, scientists, researchers, designers, and entrepreneurs.
With the emergence of various viruses and illnesses worldwide, Fantom has been expanding as a smart medicine solution to showcase Fantom Technology and Blockchain technology's numerous use-cases.
Fantom has a surpassed $385 million market cap with a trading volume of $65.6 million, priced at $0.15 per FTM at the time of writing. Considering the numerous use-cases Fantom has to offer and the features it is built on, Fantom is undoubtedly a fantastic investment. It provides speed, security, and ample room for growth. Moreover, the coin is ranked in the top 100 coins, therefore making Fantom an excellent investment.
https://coinmarketcap.com/currencies/fantom
The DeFi space is growing tremendously since its inception, and platforms like Fusion and Fantom are proving to be the catalyst in this ever-growing niche. As we have discussed, these platforms are more oriented towards solving core problems, namely scalability, and interoperability.
With these scalable, efficient, and interoperable platforms, the DeFi sector could achieve mass adoption and remove some of the core bottlenecks. The price and every growing upward trend indicate that the audience is showing significant interest in encouraging growth and adoption.
A special thanks to
Crypto Shrimp (AMA Host): First off, Welcome HyperJump Team to BSC News, its a pleasure to be host for you guys too!
Horn Solo:
Thanks for having us!
Crypto Shrimp (AMA Host): room is now locked so do check if you guys can type in the chat now
Pest: check
Horn Solo: Test test is this on?
Hammerloaf: Test test
Samurai Crypto: Test
Crypto S.I.N.: 1..2...1....2
Crypto Shrimp (AMA Host): nice!
Q1 most of the people know you guys from thugs, but do let us recap who are on HyperJump team currently and what are their roles?
Samurai Crypto: I can jump in real quick and just divvy out questions just so everyone knows, for starters... The team is majorly the same people minus 8ball as everyone is quite aware of. A few others had real life to attend to and are on a hiatus but other than that the team has remained strong and in tact and is actually growing during the rebranding process. We have added multiple new developers this week and are continuing to build out the talent we have available. We would even encourage people who would be interested to reach out!
Crypto Shrimp (AMA Host): hahaha i know its a big group of ya, feel free to cut into the convo, wanna make it a causal one and get to know the great new project
Samurai Crypto: More specifically Theo is our lead developer, CSIN handles day to day management and accounting and Horn focuses on branding as well as the website and content focused roles. Everyone is welcome to work on what they are passionate about. The DAO channels have 32 people in them currently as well.
Hammerloaf: I leak stuff :)
Horn Solo: He leaks the good stuff.
Crypto Shrimp (AMA Host): hahaha we will get there for sure
Crypto Supply Co: I work on Partnerships and collaborations. =)
Crypto Shrimp (AMA Host): thats good allocation of work for the top man
Horn Solo: Hammer leads a band of degens who take risks and feels out projects so you don't have to.
Hammerloaf: Also true
pest: I do little tools and some background stuff like maintaining the defistation TVL info ...
Hammerloaf: QA taken to a while different level.
Q2 what inspired the new relaunch project name? don’t get me wrong on this one, just asking how you guys came out with the name
Horn Solo: It was a furious mad brainstorming session one day.
Crypto S.I.N.: everyone in dao pitching ideas
Hammerloaf: Yeah, maybe two days
Pest: loong day of brainstorming
Crypto S.I.N.: we work best on the spot, lol
Crypto Shrimp (AMA Host): would take me 2 yrs to come out with a name man... so you guys are great and its a great name too
Horn Solo: We pretty quickly new we wanted to do something Sci Fi, and then we went through a million names and tickers, looking into what was available and working through what we could do with them.
Horn Solo: I honestly can't remember the first person who through out Hyper, but we ideated on that for a while after.
Crypto S.I.N.: broke up into groups...tokenomics, design, devs
Samurai Crypto: It wasn't exactly an inspiring moment when we decided to rebrand it was more out of necessity. As many are aware we had to switch to new contracts to avoid any future security issues with an outgoing founder having had access to various private keys and such. We also had become more aware of the THUGS branding's glass ceiling from not only a branding perspective but just market acceptance in general and we thought why not use the contracts swaps as a way to further improve our brand and clean up any mess caused by the exit of 8ball in the manner he did it. @hornsolo has been championing the new brand and as a team we all agreed on various elements together and we are much more comfortable building a game around this concept than the previous one.
Crypto Shrimp (AMA Host): a clear division of job, makes the company function well. ya exiting is an art, but not all of us are an artist i guess
Hammerloaf: Truly, I look at it like an excuse to make our brand more accessible and family friendly.
Crypto Supply Co: We wanted to reach a broader audience, the rebrand makes it easier to list on sites.
Pest: opportunity :)
Crypto Shrimp (AMA Host): i see even cryptogirlfriend has a hyperjump suit now too
Hammerloaf: It's gonna be all the rage.
Horn Solo: It's definitely a fun theme that a lot of people can dig into.
Crypto S.I.N.: catching on already.....and we haven't even finished migrating. I would say thats a good step in he right direction
Horn Solo: And I think people will get into more as we develop it.
Q3 lets know more about HyperJump, what are the new tokenomics of the project?
Crypto S.I.N.: burn, burn, burn the farming token down lol
Crypto Shrimp (AMA Host): hahhaa
Hammerloaf: Reward holders aggressively.
Horn Solo: I'll post a relavant graphic after all the wordy stuff.
Samurai Crypto: As many were aware the THUGS tokens would burn a % of tokens on each transaction based upon the market price and the multiplier from the launch price. Well with HYPR we decided it would be much more effective and the community would love the change if we simply handed 50% of those burns right back to them. Not only would this create a much stronger HODL incentive but it also helps give back to those who have supported us. We also continue to burn 25% of the tokens to keep HYPR deflationary. The other 25% goes to the burn vault for funding use. The price floor was also adjusted based on the relaunched contract and the maximum burn rate reduced to 33% based on feedback from the community.
Crypto Shrimp (AMA Host): i see thats good consideration and definitely rewarding for the supporters.
Horn Solo: Then with ALLOY, the farming token, we are adjusting the supply with a 10:1 conversion from DRUGS and adjusting the emission. We will have both 0.1% of AMM fees buying back ALLOY and burning it, as well as a 1% deposit fee on farming pools to do the same. Quick guys check my numbers. Here's a little info graphic to go with it.
Crypto Shrimp (AMA Host): that covered alot of stuff and numbers too
Q4 whats the difference between HyperBurn and HyperAlloy? besides the burn, will there be a difference in use case?
Crypto S.I.N.: without the LP deposit fee burns, cause we added that as a last minute bonus burn
Horn Solo: The immediate use case of HyperBurn is passive yield. But we have plans for future use in our other products in the pipeline. Same with HyperAlloy, farming partner tokens is the immediate use case, but some special things lined up for the future.
Hammerloaf: Keep in mind the long vision is building innovative games on the blockchain.
Horn Solo: Hammyleak.
Crypto Shrimp (AMA Host): ok i see a good difference in both token too, which will bring up alot of possible developement in the future
Q5 do you guys have a relaunch roadmap that you can share with the audience?
Pest: feel like leaking hammy?
Crypto S.I.N.: in a way, the roadmap hasn't changed much....the goal is still the same. the theme around it and tokenomics maybe different, but once we get migrated over then we can really draw it up
Horn Solo: Yeah, the broad goals are the same. We are just having to go back and redevelop a lot of the content everything is going to be based on.
Hammerloaf: Horn Solo is building a universe
Crypto S.I.N.: lock him up
Crypto Shrimp (AMA Host): thats great, nothing beats knowing a goal and working your way there..
Hammerloaf: Our releases will all be part of that narrative.
Crypto S.I.N.: we will have little teasers as always from time to time
Horn Solo: Ha ha ha, yeah we had a few artists working behind the scenes on new characters and locations. I was also in the process of world-building and writing a narrative, so we have begun that process again.
Q6 i know you guys are in the middle of migration, will the users be given a step by step kinda guide on what to do with the current tokens and migrating to the new tokens
Samurai Crypto: The current step by step guide just to keep things simple is to provide us with your THUGS address and purchase TX so we can finalize the last 7% of tokens manually to avoid any messy situations with arbitrage and the locked liquidity and so on. After that we will release the ALLOY swap page and users can use that contract to swap DRUGS / GUNS / EAST / WEST to ALLOY.
Horn Solo: We will also release another video where Kiki will walk you through the process, like the previous THUGS to HYPR video.
Crypto Shrimp (AMA Host): thats great a video work wonders
Hammerloaf: Kiki is our video pro :)
Crypto S.I.N.: exactly, and we have also started incorparting all our new videos in simple admin commands for tg users. this way, u ask....we give u a simple video guide
Q7 what about the safety and security measures in place for this relaunch? like any audits done or in the plans etc?
Crypto Supply Co: i got this
Crypto Shrimp (AMA Host): preventing hammyleaks haha
Crypto S.I.N.: supcos dept
Pest: few understand that this is probably the safest project in defi on bsc
Crypto Supply Co: We are in talks currently with an Auditor, once contracts are live, we will submit them. I don't want to "jump" to release who just yet, however, everyone will be pleased with the firm. We dont want to announce until its completed.
Pest: Theo is a genius. fixed pcs syrup stuff first
Crypto Shrimp (AMA Host): yes thats good enuf for everyone i think cause they know they are well taken care of
Samurai Crypto: I would also like to add that we are not facing any issues other than someone having an unchangeable private key after quitting. Not a huge security breach or anything crazy. Which is rectified in the HYPR contract of course.
Crypto Shrimp (AMA Host): being unchangeable will actually solve quite a good lot of problem..
Crypto S.I.N.: and we have been here protecting users from day 1, that will never change
Crypto Shrimp (AMA Host): no doubt about that!
Q8 will there be collaboration with other projects and is there any that have been firmed up?
Hammerloaf: So many good ones. :) I'll bite my tongue.
Crypto Shrimp (AMA Host): haha
Hammerloaf: Yieldwatch
Crypto Shrimp (AMA Host): thats a good one, would be disappointed if they don’t
Horn Solo: Is this where I jump in and do Yacko's 50 states song but with partners?
Crypto Shrimp (AMA Host): im sure everyone will love to collab, but give us a few names
Samurai Crypto: One large partnership that was already discussed openly this week was ChartEx, users will have to stay tuned for more details but they are a well respected UniSwap Charting Software and we are working with them very soon.
Samurai Crypto: And I believe about 4-6 others right during/after.
Crypto Shrimp (AMA Host): thats huge!
Horn Solo: Yeah if you missed the tweet:
Crypto Shrimp (AMA Host): thats what we are looking for !
Crypto Supply Co: I handle the staking programs.. we are rolling our the staking partners as each project nears. my list is insanely long.. there is a wait list at this point.. so for staking.. get your alloy ready.
Crypto S.I.N.: we have a bunch. of different collabs in the planning dept, from promotional events to future project relations....but more on that as they are announced
Hammerloaf: Yieldwatch was an alpha leak :)
Crypto Shrimp (AMA Host): superb
Horn Solo: Those are just a few of the partners we have to begin with. Crypto Supply Co and CSIN have been insanely busy.
Q9 the slogan says gamify defi, is that a hint that there’s some kind of gameology in the development?
Horn Solo: lol hammer
Crypto Shrimp (AMA Host): hahahaa
Samurai Crypto: Well yes would be the simple answer but I'm sure Horn has a wall of text coming.
Hammerloaf: Needless to say. We have a lot on the go.
Horn Solo: Gamify, yes. NFTs interacting with defi protocols has been a plan from the beginning. Games have been also. All of this interacting is the long term goal.
Hammerloaf: SupCo has been sleepless for days.
Q10 what about the short term development that are in the process or expecting soon ?
Horn Solo: Short term is to relaunch and get our new farm and swap going. Then we can focus a more detailed road map. We have something in the works but I'm not a liberty to say what, but it's a peak into the future of HyperJump.
Samurai Crypto: Ideally our first goal is simply to get back to a normalcy and relaunch all of the current contracts with their new improved versions of course. After that we can go back to turning on new pools and vaults and work on that side of the ecosystem more, we also need to figure out a way to allow Theo to sleep so thats a large issue, the guy won't stop coding!
Hammerloaf: I want to leak so freaking bad.
Crypto Shrimp (AMA Host): sorry im so evil to make you bite your tongue
Horn Solo: nuh uh. hold it back
Pest: i miss old times thugs leaks
Crypto Shrimp (AMA Host): i think you guys did a very good job on returning back to normalcy !
Hammerloaf: Another component of the short term strategy is our own full archival node. Our swap and info will be world class and fast. Oh and a second redundant node.
Crypto Shrimp (AMA Host): thats great stuff, fast goes along side with hyper for sure!
Q11 how about the long term goals/ roadmap that are being planned for the future development of HyperJump? now we know about the NFTs, will it be lending protocols?
Samurai Crypto: I wouldnt rule anything out as we like to stay on top of what users want to see but it would need to mostly fit into our longterm goals of gamified DeFi protocols. Especially this early on. But who knows the space is constantly changing at a fast pace!
Crypto S.I.N.: plus, i like niche's....we have ours, beefy has there's, and maybe some future partners might have one that fits into that models and flows with us. rather then trying to be a 1 stop shop
Crypto Shrimp (AMA Host): yes finding how out to collab and giving it a chance plays a big part in growing together within the same sapce
Crypto S.I.N.: we could focus n being a 1 stop crypto economy
Samurai Crypto: Do not try to do everything. Do one thing well. – Steve Jobs
Crypto Shrimp (AMA Host): thats well said
Crypto S.I.N: 100%
Q12 do share some links to the hyperjump, social media/TG/ medium for the audience to find out more on the project. so that the wider audience now know where to find out more about the project.
Samurai Crypto:
Main Telegram: https://t.me/hyperjumpbsc
HyperJump (ex thugs.fi)
Farm, stake, and swap like a thug in a fun token ecosystem built around NFTs, gaming, & innovative tokenomics. Exclusively on BSC.
Twitter: https://twitter.com/hyperjumpbsc
Theos Twitter: https://twitter.com/ThugTheo
Thug Theo (@ThugTheo) | Twitter
The latest Tweets from Thug Theo (@ThugTheo). @HyperJumpBSC Lead Developer $HYPR $ALLOY (previously $THUGS) "Live Long And Prosper. The Streets, Mars
Horn Solo:
Discord represent
Join the HyperJump (ex thugs.fi) Discord Server!
Check out the HyperJump (ex thugs.fi) community on Discord - hang out with 2,708 other members and enjoy free voice and text chat.
Samurai Crypto: :
The new website url is HyperJump.Fi
Samurai Crypto: But Horn Solo wanted to go on vacation all week so its not completed, sorry! (joke)
Crypto Shrimp (AMA Host): dont miss out any medium articles too
Samurai Crypto:
Ah yes https://hyperjumpbsc.medium.com/
HyperJump – Medium
Read writing from HyperJump on Medium. Every day, HyperJump and thousands of other voices read, write, and share important stories on Medium.
Samurai Crypto:
we also are already on Coingecko again https://www.coingecko.com/en/coins/hyperjump
HyperJump price, HYPR price index, chart, and info | CoinGecko
Get HyperJump price, HYPR chart in real-time, volume, market cap, exchanges and more.
Crypto Supply Co: Our biggest strength is the HyperJump community and our team. We've persevere through some challenges. We are still here building the BSC space together» We're not looking back, we're HyperJUMP'in to the Future.. with everyone here on this spaceship!!
Horn Solo: Serious note about the website, farm, swap etc... I know a lot of people are wondering when everything is going to launch. Hammy brought up our archival node.
Crypto Shrimp (AMA Host): you guys are a herd of beast!
Horn Solo: So the archival node has to sync every block from the beginning of BSC, and that was going along at a pretty constant pace. However over the past month or so the amount of transactions per block has shot up exponentially. It's impossible to have an exact guess, and the syncing slows down as the activity on the chain increases. And the thing is, we do not want to release our new farm and swap without price, APY, TVL etc... all of that information relies on the archival node. So we are all itching to get everything out the door, and we are almost there, but we cannot give an exact time that it will happen. So please keep up with our socials and join us while we figuratively countdown.
Pest: its important to get a good start
Crypto Shrimp (AMA Host): yup not rushing into things is good, quality will definitely drive up the organic growth
Q13 Lastly untie hammerloaf, we all want some more juicy alpha that you are willing to share today with all of us:)
Hammerloaf,: Can I drop it?
Crypto Shrimp (AMA Host): unleash hammyleak!
Pest: pliiiiiiizzzeee. thats ur leak
Horn Solo: I dunno what you wanna drop but I bet you gonna do it.
Pest: hahah
Crypto Shrimp (AMA Host): hahaha. i guess we had the yieldwatch, NFT gamify and chartex leaks so far. which is to me good enuf, i dun wan hammerloaf to bite his tongue too much
Horn Solo: I'm going to pre-emp here lol
Figure it out lol
Crypto Shrimp (AMA Host): wow big one!
Hammerloaf: That's what I was looking for and he beat me to it!!
Samurai Crypto: We're also working with other projects to help bring them to the BSC ecosystem one way or another if theyve been around a long while but no names on that front we want to share yet.
Hammerloaf: We have made it a mini mission to help ETH projects hit the ground running on BSC.
Samurai Crypto: maybe even Bitcoin forks and others too!
Crypto Shrimp (AMA Host): so many alphas!
Hammerloaf: Established and trusted projects are much needed on this chain.
Crypto Shrimp (AMA Host): yes and working together is the best thing ever. Thank you guys so much for being here today on BSC News AMA, im sure now we are clear on what is to expect in the upcoming relaunch and also more assured that our investments are well taken care of as well. I will now unlock the room for some live questions, after I lock the room back you guys can pick some questions to answer. after you are done we can conclude this AMA. 🙂
Hammerloaf: A chain is by definition strong, and our team will never be it's weakest link.
Horn Solo: Thanks for having us!
Hammerloaf: Yes, thanks so much
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Crypto Shrimp (AMA Host): its been my pleasure too.
Thank you HyperJump Team, I appreciate the time and effort for attending this AMA and also trying to let everyone learn more about HyperJump, I wish you guys great success and a smooth relaunch ! A transcript on this AMA will be out shortly for those who wish to catch up on it. Cheers guys!
for those who wish to ask more questions
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Medium https://hyperjumpbsc.medium.com/
As more developers build on BSC, there is a need to have a robust insurance platform that will help the BSC community mitigate the inherent risks of smart contract vulnerabilities and hack attacks.
When an unanticipated inconvenient event such as a car accident or a natural disaster occurs, many affected people often realize that they cannot deal with sudden financial emergencies. Traditionally, the insurance industry arose because of the need to protect against such life's uncertainties, ultimately catering to human nature or loss aversion.
Generally speaking, insurance requires two parties to function properly. First, there's an individual/group of individuals who put their resources together to provide a pool of funds that can be drawn from, the other is an interested party who pays a token (fee) to be given guaranteed financial coverage if a specified unwanted incident happens in the future.
While there are ample examples of insurance platforms for physical assets and fiat, the insurance industry was almost nonexistent for owners of digital assets and users of decentralized finance. The rapid blossom of DeFi equally attracted hackers who saw it as a new market to carry out their malicious enterprise. When such hackers successfully carry out an attack, affected DeFi users are often left to grapple with huge losses. To protect the DeFi community from exposure to future losses due to hacks and other vulnerabilities, initiatives to offer insurance began to spring up, one of which is Soteria Finance.
Soteria Finance is a mutual insurance platform developed on the Binance Smart Chain (BSC). It was launched on January 13, 2021 and its goal is to shield members of the DeFi community from exposure to losses. This is a result of arising hacks and compromised smart contracts across the entire De-Fi ecosystem. Soteria Finance is made up of four core parts: risk protection fund pool, claim assessment, risk assessment, and governance. In line with the core goal of decentralization, it is wholly owned by members of its community and anyone can contribute to the pool of funds.
The Soteria platform has a governance token, SOTE. Each policy is priced in SOTE, while settlement of claims are done with Binance Chain token BNB. Users can stake their SOTE tokens for several purposes, such as assessing and approving claims, determining a smart contract's safety, or projects to be insured. While SOTE only circulates within the Soteria platform, users who stake SOTE tokens can also mine wrapped SOTE tokens, WSOTE, which can be traded across different platforms. WSOTE is a standard BEP20 token, and exchanges between SOTE and WSOTE is in the ratio of 1:1.
The community's pool of funds forms the capital from which insurance claims are settled. Also, 50% of the funds purchased by a policyholder are committed to the pool. For each contract, a certain amount of SOTE is pledged. When a claim is successful, the SOTE pledged in the contract will be burned to make the settlement. If the amount of SOTE promised for the contract is insufficient to cover the claims, additional funds are drawn from the pool to make it up. In this way, there's always a guarantee that every successful claim will be settled.
To become a member of the Soteria community, payment of a membership fee of 0.1BNB is required. Once the fee is successfully paid, a member can perform other functions such as staking; swaps between BNB, SOTE, and WSOTE, buy insurance, make claims, evaluate the users' claims, etc.
A detailed step-by-step guide on becoming a member, performing swaps, buying insurance etc. can be found in this manual.
Ever since its launch, Soteria Finance has enabled insurance services for projects such as BLINK entertainment platform, BakerySwap, Sphinx Protocol, Bscex, dForcenet, DittoMoney, ForTubeFi
The platform has exceeded 8,000 members with an active mutual cover amount of over $10,000,000, which are rapidly growing daily.
Binance Smart Chain is a rapidly expanding DeFi ecosystem. As more developers build on BSC, there is a need to have a robust insurance platform that will help the BSC community mitigate the inherent risks of smart contract vulnerabilities and hack attacks. Soteria Finance is an insurance platform with so much promise. As it expands its platform's functionality, the Binance Smart Chain network will increase utility and utilization, creating a space for Soteria's rapid growth.
More on Soteria Finance.
