Hello, Helmeters!!!!⛑ ⛑ ⛑
Thanks for your support and our SHORT Token mining go LIVE on guard.insure 🔥🔥🔥
📣 If you have any of those assets on Polygon net: $USDC, $MATIC, $QUICK, $ETH, you are able to get SHORT token to farm GUARD‼
USDC ➡️ Cover 50% off policy
QUICK, MATIC, ETH ➡️ Cover miss out policy
⏰ Start: July 28th 22:00 UTC+8
🕰 Mining period: 30 days
🔍 What is SHORT token? (If you wanna be a smart farmer, you’d better know the big picture firstly)
SHORT token is the proof for the policy suppliers. Basically, after you pledging asset to make policy to the market, the smart contract will automatically creates SHORT token for you. The basic function of SHORT is to redeem your pledging assets and settle the policy (option). Plus, it is ERC-20 token, and the policy supplying is the only way to create it.
If you’re familiar with helmet.insure, you already know that SHORT token mining is in our V2 plan. After rounds of testing and re-fixation, we found that Polygon network would be more suitable for SHORT mining, then we feel the need to make it firstly on guard.insure.
SHORT token types vary from different policies, while they all share the ‘SHORT’ name, like the superset and the subset. One thing that you need to keep in mind is that different SHORT witness different contract addresses. If you want to check the parameters of your SHORT, you need to hit guard.insure and, where you can find out the parameters of each SHORT token you holding (⚠️ Do not determine the type of SHORT by the NAME).
⚠️⚠️⚠️⚠️ Here is the thing that deserves 5min of your careful reading:
After SHORT created, meaning that your policy is targeted to the market, and might get bought by someone else (Peer to peer trading).
If your policy is bought by XXX, you will immediately receive the premium💰 (GUARD) from XXX. When there is arbitrage opportunity of your insurance policy, the buyer can activate the policy, meaning that your SHORT will settle the policy into different asset.
For example ➡️ if you pledge 1 MATIC to supply 1 piece of Cover miss out policy of MATIC, with the activate price of $2. Once your policy sold out, no doubt that you will get GUARD premium and SHORT token, however, when MATIC hit over $2, let us make it $3, meaning that your policy will be ‘activated’ by the buyer and you will get $2 & lose 1 MATIC you deposit, while the buyer will get 1 MATIC and lose $2. When you take the SHORT to settle, you will get $2 in your wallet and the SHORT get burnt the same time.
For SAFU, tokens we support currently witness heavy liquidity on Polygon net. Only if the price PUMP 1x or DUMP 50% will the policy get activated, meaning that your SHORT will settle the policy into different asset.
Do not invest more than you can afford to lose. This is not financial advice; always do you own research :) and please check through Example and make sure you get exactly risk involved and what does the SHORT mean.
If you decide to make SHORT, 🎉 Congratulations!!! 🎉 you will get GUARD by staking SHORT.
How to get SHORT token？
💡In brief, you need to Supply Policy to get SHORT token💡
1. guard.insure and connect wallet in Polygon net ➡️ Insurance (SHORT) Tab
2. Supply Policy. ✅ If you choose to supply Cover 100% UP policy, you need to deposit/lock correspond assets like WMATIC, QUICK, ETH. ✅ While, If you choose to supply Cover 50% off policy, you need to deposit/lock USDC. (you will get the exact number of token needed from our auto system)
After supplying policy successfully, you will get SHORT automatically.
✏️Currently, we support 5 kinds of policy supplying for SHORT, $WMATIC Cover miss out , Cover 50% off; $QUICK Cover miss out, Cover 50% off; $ETH Cover miss out policy, showing followed except ETH Cover 50% off.
[GUARD Cover 100% UP, Cover 50% off SHORT token mining will start in 3 days]
How to get GUARD by SHORT token
After getting SHORT, you could click the [ Mining] tab, and our sys will catch your SHORT token data, then you could deposit them into related pools to mine GUARD.
DONE!!!!! Enjoy your polygon journey with guard.insure😎
What will SHORT do after 30 mining days
There will be 2 scenarios:
1. If your policy sold out, you need to use SHORT to settle the policy to redeem your pledged assets. The sec you settle the policy, SHORT get burnt the same time.
2. If nobody bought your policy in these 30 days, then you need to cancel your policy to get your pledged assets out. The sec you cancel your policy, SHORT get burnt the same time.
Stay tuned for our NEWS later!!!!
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