Helmet.Insure has recently partnered with the decentralized and scaling solution stablecoin protocol MarsEcosystem.
On June 12th via a Twitter post, Helmet Insure broke the exciting news to their community that the MarsEcosystem is now up and running on Helmet IIO. The news went on to say that iXMS will be the option Token launched on Helmet.insure. The Mars Ecosystem is a stable coin project that looks to solve the Positive Externality problem by creating stable coins used in one ecosystem.
The project hosted an AMA following the news of the partnership, which has yet to be uploaded to a streaming platform. If one wishes to learn more about how Helmet.Insure works, they have provided an easy-to-follow video posted on their Twitter, describing their projects use-case.
The news also comes with new liquidity pool mining opportunities as well as some other interesting features. To participate users will have to use Helmets Initial Insurance Offering (IIO). This system combines token offerings with European option trading models, fairly distributing tokens to investors. Users will need to supply HELMET-BNB to the PancakeSwap liquidity pool which will make them eligible to purchase IIO tickets for 1 $HELMET. Once a ticket is purchased, users will be able to farm iXMS, which will be used to purchase XMS. The token swap period for iXMS –> XMS will be June 14th 18:00 — June 15th 18:00 SGT but be sure to get your iXMS as the distribution ends on June 14th when the token swap opens.
To learn more about the new update, including investor benefits, liquidity pools, rewards, and the tokenomics in play, feel free to refer to their medium article where the protocol update is explained in depth.
For new users who may be interested, it may be worthwhile to stick to regular yield farming instead of trying to navigate the helmet.insure, as the platform cautions their audience that this tool is for advanced DeFi users who also know how financial options work. Their words, not ours. The team at Mars also warns investors to watch out for impermanent loss.
Who is the Mars Ecosystem?
The Mars Ecosystem is a new decentralized Stablecoin model that looks to solve the problem of Stablecoin Protocols, specifically the Positive Externality Problem. The team accomplishes this by internalizing the positive externality. The solution is to integrate the creation and the use of stablecoin into one ecosystem. The whole project was launched in early June, and has become available for trading a growing number of DEXs.
Who is Helmet.insure?
Helmet is a peer-to-peer price insurance protocol ran on the BSC (Binance Smart Chain) network. The project is deep rooted in option trading logic. Helmet.Insure is a tool for advanced DeFi users who have a strong understanding on how financial options work as well as enough exposure in DeFi assets for it to make sense to hedge a portion of it. The protocol leverages options trading for its decentralized insurance offering. To learn more about how helmet.insure works, click the link here!
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.