Five pictures to understand the operation mechanism of Whiteheart.finance
Editor's Note: This article comes fromBlock beats BlockBeats (ID: BlockBeats), reprinted by Odaily with authorization.
Editor's Note: This article comes from
Block beats BlockBeats (ID: BlockBeats)
Block beats BlockBeats (ID: BlockBeats)
, reprinted by Odaily with authorization.
Whiteheart.finance, a hedging agreement based on the decentralized options platform Hegic, has opened up a new DeFi track, using options to provide protection for users of decentralized trading platforms. The agreement will buy every transaction on the platform. A hedging option for the equivalent amount of the trade, which guarantees that the dollar value of the crypto asset purchased is not affected by price declines within 14 days. Whiteheart.finance will launch the test mainnet in February 2021. The following will introduce the protocol based on the official website and its white paper.
1. Users use the Whiteheart.finance interactive page in the same way as operating Uniswap.
2. Every time ETH or WBTC hedging contracts are purchased through Whiteheart.finance, the agreement will automatically protect the value of the user's ETH or WBTC with an equivalent put option.
3. This means that, using Whiteheart.finance to trade ETH or WBTC, users will theoretically be free from any dollar losses within 14 days.
token model
4. If the price falls, the user can execute the hedged contract and get the dollar difference between the buy price and the current price.
5. The price difference after the execution of the contract will be sent to the Ethereum address of the transaction.
Summarize
token model
The fundraising for the tokens was completed in a private group of 233 people organized by Hegic founder Molly Wintermute on the cross-platform instant messaging tool Keybase. After the completion of IBCO, the initial price of WHITE is 1 WHITE = 1.71 ETH, which is about $1077 when it is listed on Uniswap. At the same time, the total amount of WHITE tokens is 8,888. The project party stated that the team's tokens will not be sold before the mainnet goes live. According to the official Twitter, 88 WHITE will be distributed to private group members who participated in IBCO and will not sell tokens before the mainnet launch in 2021.
