Hegic

Overview of Hegic

  • Hegic originally reported the bug incorrectly: “It’s an incorrect function name (optionIDs instead of optionsIDs).” But they did describe the consensequences correctly: “This function unlocks liquidity in expired contracts.
  • HEGIC is an ERC20 token used for distribution and settlement of fees between token holders, and in the future, “will also be the way to delegate governance of the Hegic Protocol to the community of token holders.” according to its website.
  • Hegic options are created through “hedge contracts’’ that use wrapped bitcoin (WBTC) and ether (ETH) to write non-custodial options with on-chain settlement without the need for a centralized clearing organization.
  • HEGIC token holders receive a 30 percent discount when purchasing contracts exclusive of settlement fees which is determined by the Ethereum network—highly dependent on prevailing Gas fees.
  • Hegic allows users to buy WBTC (Wrapped Bitcoin) or ETH (Ether) call and put options with any strike price and flexible holding periods by utilizing Hegic’s liquidity pools.
  • Hegic’s version of a put option is an on-chain contract that gives a buyer the right to swap their ETH for DAI at a specified price before the expiration date.
  • Hegic tells us that the whole project was set up, planned and produced within just a number of days as a joint venture between the Museum of Now and YAP.
  • Hegic price Index provides the latest HEGIC price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.
  • Hegic was founded by a pseudonymous DeFi developer and Twitter personality known as Molly Wintermute, who became active on January 28, 2020.
  • HEGIC, RAD and RLY are the tokens powering the next generation of the internet, said Anchorage co-founder Diogo Mónica. 

    • Blockchain

    Hegic is an options trading protocol built on the Ethereum blockchain.It is entirely on-chain, permissionless, and non-custodial – as all DeFi products should be.Users can buy or sell call and put options using Hegic.

    Mine

    Network

    A maximum of 3,000 lots (2.664 billion tokens) is allowed to exist at any given time.A minimum of 888,000 HEGIC is required to stake on the network.Every 888,000 tokens are considered one lot.

    Transactions

    Let’s explore HEGIC transactions.What happened?

    AdMad at your Computer?

    Boost and fix your computer with ease, now.

    What are Options?

    An option is a contract giving the buyer the right, but not the obligation, to buy (in the case of a call option contract) or sell (in the case of a put option contract) the underlying asset at a specific price on or before a certain date.Traders can use on-chain options for speculation or to hedge their positions.Options are known as derivatives because they derive their value from an underlying asset.

    What Sets Hegic Apart from the Competition?

    Opyn, ACO Finance, and Deribit are Hegic’s primary competition, albeit Deribit is a centralized alternative and not a direct competitor in DeFi.

    How to buy Hegic Token (HEGIC) on Binance?

    In order to buy Hegic Token (HEGIC) on Binance, you first need to open an account.

    How to Exercise an ETH Call Option?

    Buyers can exercise the ETH call option as long as the option contract hasn’t expired.To exercise the option, the call buyer unlocks their ETH in the contract by sending the prescribed amount of DAI.

    What are Options?

    Options are financial instruments that allow the holder to buy or sell an asset at a specified price.They are derivatives since they derive their price from an underlying asset.The terms of the option are set by the options contract.

    How Many Hegic (HEGIC) Coins Are There in Circulation?

    Hegic (HEGIC) has a circulating supply of 357,703,899 tokens and a maximum supply of 3,012,009,888 HEGIC as of February 2021.

    Like what you’re reading?

    Get to work in a fast growing industry.Start learning blockchain together with our 20,000+ students today.Use coupon code BLOG20 for 20% off.

    What are Keybase teams?

    A Keybase team is a group of people who can communicate with end-to-end cryptography.This means
    the team’s chats and files cannot be read by anyone outside the team, not even someone who
    breaks into Keybase’s servers.

    How Is the Hegic Network Secured?

    The HEGIC token is an ERC-20 token.The maintenance and execution of hedge contracts do not depend on external price feeds.This is used to guarantee the security of active hedge contracts and to protect oracles from price attacks and exploits.

    How to buy an option on Hegic?

    Buying an option on Hegic is incredibly fast and seamless.Needless to say that like every application on Ethereum, no KYC is needed and your Ethereum wallet can be connected in one simple click.

    What Is an ETH Call Option on Hegic?

    An Hegic ETH call option is an on-chain contract that gives the buyer the right to swap DAI for ETH at the strike price.ETH call option buyers get to choose the amount, the period, and the strike price for the options contract.The strike price is the price at which the holders can swap their DAI for ETH.

    What is a Put Option?

    A put is an option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying asset at a specified price within a certain time.The pre-determined price the put option buyer can sell at is called the strike price.

    AdWhat’s a challenge without a Ranger FX4?

    Take on any challenge & connect with your FX4 & the New FordPass app that connects you to your car in more ways than 1.

    What is Hegic?

    Hegic is described to be an on-chain peer-to-pool options trading protocol built on Ethereum.It is claimed that the Hegic protocol pioneers a peer-to-pool approach to options trading.The project claims that it works like an AMM (automated market maker) for options.

    How to use HEGIC?

    Trade options or provide liquidity through Hegic’s native interface.

    What is Hegic?

    Hegic is on-chain options trading protocol, allowing you to buy ETH call and put options as an individual holder (buyer) or sell ETH call and put options as a liquidity provider.

    What is Hegic?

    For those unfamiliar, options contracts give you the right to buy or sell a particular asset at a later date at an agreed-upon price (known as the strike price).In essence, options contracts are a leveraged bet on whether or not the price of an asset will go up or down within a certain period of time.For Hegic, the protocol is launching with ETH support, allowing anyone to access a leveraged bet on the price of Ether in either direction.

    What Makes Hegic Unique?

    Some of Hegic’s key features are its ETH and DAI pools.

    What is HEGIC?

    Hegic is an on-chain peer-to-pool options trading protocol built on Ethereum.Hegic allows users to buy WBTC or ETH call and put options with any strike price and flexible holding periods by utilizing Hegic’s liquidity pools.Users can provide liquidity to Hegic to start simultaneously selling options to thousands of buyers, earning their share of premiums paid to the pool.Hegic options can always be exercised at any moment during the period of holding a contract due to the liquidity locked inside the option contract itself.

    What is an Expiration Date?

    An expiration date in options is the last day that options contracts are valid.On or before this day, options contracts holders will have already decided what to do with their expiring position.Before an option expires, its owners can choose to exercise the option, close the position to realize their profit or loss, or let the contract expire worthless.The expiration time of an options contract is the date and time when it is rendered null and void.It is more specific than the expiration date and should not be confused with the last time to execute that option.

    What makes Hegic special?

    In its current form, Hegic is a non-custodial options trading platform allowing users to buy put & call options on ETH and WBTC.Unlike centralized option trading platforms, Hegic is completely non-custodial, KYC less, composable (meaning it integrates with the rest of DeFi) and lets liquidity providers participate in the economic success of the platform.

    Why are Options popular?

    Let’s begin by making clear that the global option markets are gigantic.Option contracts can exist for any financial asset whether it’s stocks, commodities or real estate and their volumes often exceed the underlying spot market volume (where buyers & sellers trade assets at face value) by multiples.

    Ready to discover your family story?

    Simply start with a family member and we'll do the searching for you.

    Stock Buybacks: Why Would a Company Reinvest in Themselves?

    The rapidly improving economy and stocks at record highs may be fueling a flurry of stock buyback activity in 2021.

    Who Are the Founders of Hegic?

    Hegic was founded by a pseudonymous DeFi developer and Twitter personality known as Molly Wintermute, who became active on January 28, 2020.Molly Wintermute’s tweets focus on the developments and upgrades to the Hegic platform and the statistics that highlight the daily volume records on the derivatives trading platform.

    What is a Strike Price?

    This is the set price at which you can buy or sell an option.For call options, the strike price is the purchase price and for put options, the strike price is the selling price.

    What Is Hegic?

    Options are a vital building block of financial services.They are the foremost form of market insurance and allow traders to implement robust risk management strategies.

    What is a Strike Price?

    A strike price is the set price at which an option contract can be bought (call option) or sold (put option) when it is exercised.For call options, the strike price is where the asset can be bought by the option holder; for put options, the strike price is the price at which the asset can be sold.The strike price is a key variable of call and put options.For example, the buyer of an ETH call option would have the right, but not the obligation, to buy that ETH in the future at the strike price.Similarly, the buyer of an ETH put option would have the right, but not the obligation, to sell that ETH in the future at the strike price.

    What is a Call Option?

    A call option is option contract giving the owner the right, but not the obligation, to buy a specified amount of an underlying asset at a specified price within a certain time.The pre-determined price the call option buyer can buy at is called the strike price.

    What is an Option Premium?

    An option premium is the price of an option contract.It is thus the income received by the seller (writer) of an option contract.In-the-money option premiums are composed of two factors: intrinsic and extrinsic value.Out-of-the-money options premiums consist solely of extrinsic value.

    What is Hegic?

    Hegic is a non-custodial on-chain options protocol built on Ethereum which enables a decentralized exchange of option contracts.The protocol is powered by liquidity pools and hedge contracts that support call and put options on ETH and WBTC.These options can be exercised anytime prior to their expiration date (American options).

    What Is Hegic (HEGIC)?

    Hegic is an on-chain options trading protocol that is powered by hedge contracts and liquidity pools on Ethereum (ETH).A hedge contract is an options-like, on-chain contract that gives the holder or buyer a right to buy or sell an asset at a certain price (strike) as well as imposes an obligation on the writer or seller to buy or sell an asset at a certain time period.

    What is Hegic?

    Hegic is introducing an elegant mechanism that integrates the “pool” model for liquidity providers who want to enhance trustless Options trading.

    What Went Wrong?

    Shortly after launch, it was discovered that one Hegic’s function’s optionIDs was misspelled – where it should have read optionsIDs.What this meant is that those who provided liquidity to the protocol may be unable to retrieve when the function was called – resulting in those funds being lost forever.

    History of Hegic