Continuing the series of DeFI projects of Techtipsnreviewin today’s article, I will learn with you guys about Helis Network and HELIS Token.
Stay tuned for the post!
What is Helis Network?
Helis Network is a Blockchain Service project in the financial sector.
According to the definition of team dev
Helis Network is an ecosystem of products in the field of DeFi decentralized finance.
Helis’ team is focused on providing DeFi solutions for the main audience. Products in their DeFi include: lending, derivative products, payments, stable coins, decentralized exchanges.
What problem did Helis set out to solve?
One of the problems the Helis team set out to solve was: decentralized financial products are relatively complicated in terms of technical and financial terms. Therefore, accessing them will be somewhat hindered.
Helis wants to integrate all of the above DeFi solutions and protocols to make it easy for businesses to use.
Helis wants to provide a comprehensive DeFi solution for businesses in which:
- Global: Any business can access financial products and instruments from anywhere, at any time
- Gain trust/transparency using smart contracts
- Fast: no verification documents required
- Simplicity in interface and interaction
- Provide services at reasonable prices, eliminating unnecessary intermediaries
- Protocol Openness: Programming protocols can be easily combined and leveraged in many ways.
How does Helis solve the above problem?
In their Business Model, Helis consists of 4 layers as shown above. In which, each layer has different roles and activities:
- Product Layer: This is a class of decentralized applications that end customers use directly. Their first product is Payroll, which has been provided to a number of businesses such as NEXO, Kyber Network, AION, Looping.
- Agregator Layers: At this layer, Helis will provide an interface that smart contracts can use to create liquidity for corporate loans.
- Protocol Layers: This is a protocol layer, allowing the application of smart contracts to execute tasks such as lending, exchange, derivatives…
- Base Layer: Allows interaction between different Blockchains.
What is HELIS Token?
HELIS is the Utility Token in the Helis Network ecosystem. With the role of Uiltity HELIS is mainly used to pay for service usage fees, staking, governance.
Below I will explain more about this purpose.
HELIS is an ERC-20 Token built on Ethereum’s ERC-20 platform.
Basic information about HELIS Token
- Ticker: HELIS
- Blockchain: Ethereum
- Smart Contract: Updating
- Decimal: Updating
- Token Standard: ERC-20
- Token type: Utility Token
- Total Supply: 300,000,000 HELIS
- Circulating Supply: 0 HELIS
Token Allocation HELIS
Token Sale HELIS
Updating…
Token Distribution Plan HELIS
HELIS rate today
Updating…
What is HELIS Token used for?
As a Utility Token, HELIS Token is used in the Helis Network ecosystem for the following purposes:
- Use HELIS Token as a service fee on the Helis Network network. A part fee will be charged when participants make transactions. This fee is collected by HELIS Token.
- HELIS Holders have control and influence to change the protocol by voting via the HELIS Token.
- Use HELIS Token for staking.
- Use HELIS Token to pay users who stake their HELIS, based on token amount and staking time.
- Burning HELIS Token: A part of HELIS Token obtained from the above fee will be burned to reduce the circulation of HELIS in the market.
HELIS Token transaction fee
HELIS is an ERC-20 Token, so when trading, you will have to bear the following fees:
- Trading fees and withdrawal fees on exchanges.
- Transfer fees, transactions inside the Blockchain network are collected by Ethereum.
How to earn and own HELIS Token
Based on the above use purposes, you can own HELIS Token in the following ways:
- Wait for the token to go on the exchange and then buy. According to the dev team, they have no intention of doing an ICO or an IEO.
- Staking HELIS Token to get HELIS Reward.
How to mine HELIS Token?
You cannot mine HELIS Token with miners like with BTC, ETH.
In the future, Helis Network will use PoS consensus mechanism, participants must staking HELIS Token, confirm transaction and receive HELIS Token reward in return.
You may be interested: What is Proof of Stake (POS)? How to mine POS coin?
HELIS Token storage wallet
The above token is an ERC-20 Token, so you can store it on all wallets that support this standard:
- Wallets on exchanges are trading this token
- Soft wallets: MyEtherWallet, Metamask, TrustWallet…
- Hardware wallets: Tresor, Ledger Nano…
You may be interested:
Exchange HELIS Token
Currently, the HELIS Token has not been released to the market.
Techtipsnreview will update HELIS coin exchanges after this token is officially listed on the exchange.
The Future of HELIS Token
Based on the token design of the dev team, we see that HELIS inside the Helis Network ecosystem is used directly by users (business customers). They are used for fee, staking or governance purposes.
In the future, when this number of users increases, the need to buy HELIS Token for use will also increase.
In addition, in the Helis model there is a program PILOT PROGRAMS. This is a product of Helis that has been developing since 2018.
In the future, Helis will also provide SDKs for other partners to easily integrate Protocol Helis into dApps. This is considered one of the effective ways to help Helis increase the number of customers using it quickly.
summary
In the last article, I gave you an overview of the Helis model as well as the HELIS Token. If you have any questions, please comment below.
Or you can join the exchange and discussion in Techtipsnreview Research Group.
Best regards and see you in the next posts!
Source: What is Helis Network (HELIS)? HELIS . Cryptocurrency Complete
– TechtipsnReview
