Helmet is built with option trading logic as the bottom layer, a peer-to-peer asset price insurance trading protocol. Anyone or an agreement can create insurance for assets and issue policies to the market by calling the Helmet contract.
HELMET governance tokens are issued by helmet.insurance, with a total circulation of 100 million pieces and never inflated.
Holding HELMET will get the following rights:
Purchase insurance policies at helmet.insurance as insurance premiums;
Participate in community governance and vote on proposals;
Obtain insurance transaction fees through mortgages.

Project Introduction

Unlike some decentralized insurance products you have used, Helmet does not solve security issues such as "unknown code attacks", but helps users reduce the risk of asset price fluctuations.

The Helmet contract is deployed on the BSC (Binance Smart Chain) and focuses on serving the assets on the BSC chain. Users build and spell out the type of insurance they want to publish by combining four elements—insurance usage scenarios, insurance asset types, insurance validity periods, and policy prices. This means that as long as the price of an asset is recognized on SWAP, one or more insurance products can be combined on Helmet based on the price index to serve traders of the asset.

There are two roles on Helmet, the underwriter and the insured party. The underwriter is the seller of the insurance order, and sells the order to the market to obtain a small but stable income. The insured party is the buyer of the policy and pays a certain amount of premium to the seller to control the risks arising from sudden changes in asset prices. When the index price of SWAP is higher or lower than the price of the policy, the insured party can obtain benefits by taking out risks to balance the losses caused by price fluctuations.

HELMET Token Issuance and Use Plan

HELMET tokens have a multi-year issuance and use plan. In the first year after going online, the upper limit of HELMET issuance is 50 million. Please see the following for specific details:
10% (approximately 10 million) will be used for the LP recruitment plan
27.5% (approximately 27.5 million) will be allocated to HELMET community members within one year.
1. Get 30% through policy mortgage mining.
2. Obtain 50% through LPT liquidity mining.
3. Get 20% through governance or proposal voting.
5% (approximately 5 million) will be dug out with the mine and used as a developer fund
7.5% (approximately 7.5 million) will be used as a BSC ecological treasury to invest in BSC ecological construction. Details will be enforced and disclosed through governance.

Related links:

https://helmet-insure.gitbook.io/helmet-insure-cn/