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DeFi Ethereum

What is the Hegic token used for?

How Hegic protocol uses the HEGIC token. Hegic is a protocol for non-custodial options contracts on Ethereum.

HEGIC token is


A utility and governance token for the protocol.

HEGIC token is used for


  • Fees to token holders
  • Discounts
  • Governance

What is Hegic protocol


A protocol for decentralized for options contracts.

How Hegic protocol works


Buy call and put options or use to hedge your positions. Earn yield as liquidity provider by selling call and put options.

Holder

  • A holder of a Hedge contract receives a 30% discount when holding tokens in their Ethereum wallet.
  • A 1% settlement fee on hedge contracts is distributed to token holders every quarter.

Writer

A writer provides liquidity to the protocol. Withdrawal of liquidity is processed in a queue. If the writer holds HEGIC in their wallet the request is processed instantly.

Call option

  • Option to buy an asset during a certain timeframe (maturity).
  • and at a certain price (strike price).

Token issuance


  • Early contributors: 20%
  • Liquidity and other rewards: 40%
  • Development fund: 10% (48 months vesting.)
  • Balancer pool: 5% (this allocation is to have a secondary liquidity pool and the users of mainnet will be able to swap their tokens with this pool at a rate of 0.1%)
  • Bonding curve: 25%

Docs


Docs

Paper

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Token price


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