CAKE holders, we are proud to announce Helmet (HELMET) as the next Initial Farm Offering to be hosted on the PancakeSwap IFO platform.
What is Helmet (HELMET)?
Helmet is a peer-to-peer insurance protocol written by option trading logic, which allows anyone to create any token price insurance policy easily in the market.
Unlike other insurance products you may have used, Helmet does not solve the problem of “Code Attack Risk” but allows DeFi users to be protected against the risk of price fluctuations.
Helmet.insure, developed on BSC ( Binance Smart Chain), specialize in providing price-shield insurance for BSC assets. The types of insurance depends on token holders and traders.
Helmet offers insurance suppliers the right to “LOGO” modules by four elements — — including insurance usage scenarios, type of insurance asset, insurance period, and insurance prices, allowing suppliers to flexibly assemble the types of insurance to sell and give a variety of hedging strategies to the market.
To learn more about Helmet, click here.
IFO Sale Details
- Sale start block: 3949650 (5pm SGT on Wednesday 13th of January)
- Sale end block: 3950850 (6pm SGT on Wednesday 13th of January)
- Amount to be raised: $1,000,000 USD in CAKE-BNB LP tokens
- Tokens to be sold: 10,000,000 HELMET (10% of total HELMET supply)
- Price per token: 1 HELMET = $0.1 USD
- Method: Overflow (see below)
To participate in the IFO:
- While the sale is live between block 3949650 and 3950850 (5pm -6pm SGT on Wednesday 13th of January), commit your CAKE-LP tokens to buy HELMET tokens at pancakeswap.finance/ifo
- When the sale is complete, claim your HELMET tokens and your unspent funds will also be sent back to you.
- Done! In the case of an overflow you can unstake your remaining CAKE-BNB LP tokens.
If you decide to acquire CAKE-BNB LP tokens before the IFO starts, you can stake them here to earn CAKE token rewards while waiting for the sale.
Please note — while you are holding CAKE-BNB LP tokens you will be at risk of Impermanent Loss.
What is the “Overflow” sale method?
TLDR: Basically, the more you put in, the more you will get, and you’ll get back anything that doesn’t get spent.
In the “Overflow” method, users can subscribe as much or as little as they want to the IFO, and their final allocation will be based on the amount of funds they put in as a percentage of all funds put in by other users at the time the sale ends. Users will receive back any leftover funds when they claim their tokens after the sale.
Here are three basic examples to show you what we mean:
Please note — The final USD price per CAKE-BNB LP token will be set a few minutes before the sale starting at block (5pm SGT on Wednesday 13th of January) and will be broadcasted on all channels.
While a few things may be subject to initial change, two things are sure:
- You will need CAKE-BNB LP tokens to participate.
- If the full $1,000,000 USD allocation is raised, then $500,000 USD of CAKE tokens will be burned forever.
On point two, however, this time things will be a little different as the $500,000 of CAKE will not be burned immediately. Instead, it will be used to create “CAKE insurance”, which will be given away to BSC users so that the may experience Helmet’ insurance product, and then eventually sent to the burn address 30 days later.
Project: Helmet (HELMET)
Max Supply: 100 million
Initial Circulating Supply (Day of sale): 12,500,000 HELMET
Contract Address: https://www.bscscan.com/token/0x948d2a81086A075b3130BAc19e4c6DEe1D2E3fE8
Audit: In progress (CertiK / KNOWNSEC)
Telegram (EN): http://t.me/helmet_insure
HELMET Token Distribution
The maximum amount of Helmet is 100 million. The HELMET token will witness a multi-year schedule, with the first year schedule of a total of 50 million tokens. Details :
- 10% (10 million) for IFO on PancakeSwap
- 27.5% (27.5 million) will be allocated to HELMET community members.
- 30% can be earned through policy mining in the first year ○ 50% can be earned through LPT mining in the first year.
- 20% can be earned through governance or vote on proposals in the first year.
- 5% (5 million) will be farmed and reserved for one year as developer fund
- 7.5% (7.5 million) will be used for partnerships with BSC ecological construction as Vault
The remaining 50 million HELMET tokens will be sent to a 1-year timelock contract.
Disclaimer — All projects are subject to both high market risk and volatility. Please, do your own research and full due diligence before even considering to invest your funds in any project and please, make your investments very cautiously. PancakeSwap will not be held responsible for any investment losses.
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