Buy Helmet Insure (HELMET)

What is Helmet Insure?

Helmet Insure is a peer-to-peer price-shield insurance protocol that operates on the Binance Smart Chain (BSC). It is designed to protect users in the decentralized finance (DeFi) space from the risks associated with price volatiltiy. The protocol facilitates this by allowing users to create and participate in insurance policies for various cryptocurrency assets.

How does Helmet Insure work?

Helmet Insure uses smart contracts to manage the creation and trading of its insurance policies. Users can create policies for any crypto asset, using a market-oriented approach that avoids intricate mathematics. The platform provides two types of policies—SHORT Tokens and LONG Tokens. These policies provide a structured method for managing risk against price fluctuations in DeFi trading. Helmet Insure also incorporates a mining component within its hedging tool, which is leveraged for yield farming activities.

What are the potential use cases for Helmet Insure?

Helmet Insure’s primary use case is to offer a mechanism for hedging against price volatility in DeFi trading. It allows traders and investors to insure against price drops of cryptocurrencies they hold. Additionally, the protocol’s structure is conducive to integration with various cryptocurrency exchanges and DeFi platforms, where it can serve as an enhancement to risk management strategies. Furthermore, the yield farming component adds value by providing opportunities for generating additional income through insurance policy-related activities.

What is the history of Helmet Insure?

Helmet Insure was launched in January 2021 on the Binance Smart Chain. Shortly after, in March 2021, it received strategic funding from Binance, bolstering its position within the DeFi sector. Since its inception, Helmet Insure has continued to offer its unique insurance framework for cryptocurrency assets, focusing on increasing the accessibility and ease of use of insurance policy trading in the DeFi landscape.