Helmet is a peer-to-peer asset price insurance trading protocol built on the underlying logic of options trading. Anyone or any protocol can create insurance for assets and publish policies to the market by invoking the Helmet contract.
The HELMET governance token is issued by helmet.insurance, with a total supply of 100 million tokens that will never be inflated.
Holders of HELMET will have the following rights:
To purchase policies as premium on helmet.insurance;
To participate in community governance and vote on proposals;
To earn insurance trading fees through staking.

Project Introduction

Unlike some decentralized insurance products you may have used, Helmet does not address security issues such as "unknown code attacks," but instead helps users mitigate the risk of asset price volatility.

The Helmet contract is deployed on BSC (Binance Smart Chain), focusing on serving assets on the BSC chain. Users combine four elements - use case of the insurance, type of asset insured, validity period of the policy, and price of the policy - to create and piece together the insurance products they wish to publish. This means that as long as an assets price is recognized on a SWAP, one or more insurance products can be composed based on the price index on Helmet to serve traders of that asset.

On Helmet, there are two roles: the insurer and the insured. The insurer is the seller of insurance orders, earning small but stable returns by listing orders on the market. The insured is the buyer of the policy, controlling the risk of sudden changes in asset prices by paying a certain amount of premium to the seller. When the index price on SWAP exceeds or falls below the policy price, the insured can claim benefits to offset losses from price fluctuations.

HELMET Token Issuance and Usage Plan

The HELMET token has a multi-year issuance and usage plan. In the first year after launch, the maximum issuance of HELMET will be 50 million. Details are as follows:
10% (approximately 10 million) will be used for LP recruitment programs.
27.5% (approximately 27.5 million) will be distributed to HELMET community members over one year.
1. Obtain 30% through policy staking mining.
2. Obtain 50% through LPT liquidity mining.
3. Obtain 20% through governance or proposal voting.
5% (approximately 5 million) will be mined with the mine, to be used as a developer fund.
7.5% (approximately 7.5 million) will serve as the BSC ecosystem treasury, used to invest in BSC ecosystem construction. Specific usage methods and details will be executed and disclosed through governance.

Relevant links:

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