How to Protect Your ETH and WBTC From the USD Losses With Whiteheart
Whiteheart is an on-chain hedging protocol that can help tens of thousands of DeFi users to automatically protect the USD value of their holdings from losses. You can think of Whiteheart as it is the Red Cross of crypto: the Red Cross saves people’s lives while Whiteheart saves your money 🤍
Here is a guide on protecting your Ether (ETH) and Wrapped BTC (WBTC) from the USD losses in five minutes with Whiteheart.
Step 1/9: Visit https://www.whiteheart.finance/ and click the Protect WBTC & ETH Value button 👇🏻
Step 2/9: Connect your wallet (click the Connect Wallet button) 👇🏻
Step 3/9: Stay in the Wrap / Swap section (Wrap button) and choose the asset that your want to protect from losses: click one of the two buttons on the interface ETH → WHETH or WBTC → WHWBTC.
Note that you have to hold this amount of ETH or WBTC on your address in order to wrap it to WHETH (Whiteheart ETH) or WHWBTC (Whiteheart WBTC) that will be protected from the USD losses 👇🏻
Step 4/9: Choose the amount of ETH or WBTC that you want to wrap (note the Balance of your address) and the period of protection (14 to 28 days) to see the final cost of protection.
The price floor of protection will be the same as the market price of ETH or WBTC at the time of wrapping your ETH or WBTC to WHETH or WHWBTC. Your assets will be protected from the USD losses in case if the market price will decline during the period of time that you choose.
Whiteheart uses ChainLink price feeds as a source of data to estimate the real-time prices of assets and calculating the cost of protection.
When ready to protect your ETH or WBTC from the USD losses for a fixed period of time, click the Wrap button 👇🏻
Step 5/9: Confirm your wrapping transaciton which would cost you $40–80 in gas fees depending on network congestion plus the cost of protection for the whole period that you have chosen.
The WHETH prices start as low as 9.90% for four weeks (28 days) for USD loss protection. The same 28 days USD loss protection with WHWBTC would cost you 6.90% for four weeks (28 days).
Note that real-time WHETH and WHWBTC prices may differ as they depend on the market prices of ETH and BTC 👇🏻
Step 6/9: After your transaction will be confirmed, click the Done button and go to the Holdings section to see your WHETH and WHWBTC balances 👇🏻
Step 7/9: Monitor your WHETH and WHWBTC holdings and the difference in prices of ETH and WBTC. Remember that you can unwrap your WHETH or WHWBTC back to ETH or WBTC at any moment. In order to do that, click the Receive button and confirm the transaction 👇🏻
Step 8/9: If the price of ETH or WBTC will decline during the period of holding WHETH or WHWBTC, you will see it on the interfaces and will be able to receive your asset plus the difference in USDC.
In the example below, your can see that the price floor of ETH was at $1,702.48 and the market price has declined to $1,688.51. It means that after clicking the Receive button, you would be able to receive ETH plus the difference (+13.97 USDC) to your address 👇🏻
Step 9/9: Click the Receive button and confirm the transaction to unwrap WHETH or WHWBTC and receive ETH or WBTC plus the difference in USDC to your address 👇🏻
After the transaction will be confirmed on-chain, you will receive the same amount of ETH or WBTC that you have wrapped before plus USDC to your address. You will see the transaction in the History section.
Whiteheart Starts with You
There are 2,130 (more than two thousand!) WHITE holders in the world. Many of them are useless freeriders and token flippers: they know nothing about Whiteheart, they don’t want to educate themselves and contribute to the future of the hedging protocol.
But some of them (hopefully, including you) are really interested in growing Whiteheart into the protocol that will protect thousands of DeFi users as well as millions of crypto and stock holders from losses in markets.
If you are one of the WHITE holders, the decision is yours: to close this article and wait for the “pump” or to start growing the adoption today.
No one will remember your gains.
But everyone will remember the innovators and early adopters of the protocol that could forever change how people behave in the markets.
“Pump” your knowledge today: https://www.whiteheart.finance/ 🤍
IMPORTANT DISCLAIMER: WHITEHEART IS LIVE IN ALPHA. USE IT AT YOUR OWN RISK. DON’T USE IT IF YOU CAN’T AFFORD TO LOSE 100% OF FUNDS. YOU WON’T BE COMPENSATED IN CASE OF ANY LOSSES RELATED TO THE WHITEHEART PROTOCOL. THE PROTOCOL IS BEING DEVELOPED AND ANY PART OF IT COULD BE CHANGED AT ANY TIME. IF YOU DO NOT AGREE WITH ANY PART OF THIS DISCLAIMER, PLEASE NEVER USE WHITEHEART.
