Hegic operates as an on-chain AMM options trading protocol utilizing the American-style model on Arbitrum. Users can trade call and put options for BTC or ETH, selecting from ATM (at-the-money) and OTM (out-of-the-money) strikes. The platform also offers various one-click strategies tailored to market sentiment, including Bullish, Bearish, High Volatility, or Low Volatility conditions. To understand the mechanics of Hegic, the available options strategies, and the function of $Hegic within the ecosystem, refer to the Learn section.

Hegic was established by Molly Wintermute, a pseudonymous DeFi developer and Twitter figure who began their activity on January 28, 2020. Wintermute’s posts concentrate on Hegic platform enhancements and share statistics regarding daily volume records on the derivatives trading site.

Hegic distinguishes itself through its specific ETH and DAI liquidity pools. The ETH pool operates on a non-custodial basis, allowing liquidity providers to collect premiums in ETH. Funds deposited here support the sale of ETH call options; upon expiration, option holders may exchange their DAI for ETH at the agreed strike price. Buyers pay a premium for this right, which is allocated to liquidity providers proportionally when options expire within a timeframe ranging from two days to four weeks.

Conversely, the DAI pool serves providers who supply DAI in return for writeDAI tokens. This pool primarily facilitates the selling of ETH put options, catering to traders looking to purchase such puts.

As of February 2021, the circulating supply of Hegic (HEGIC) stands at 357,703,899 tokens, while its maximum supply is capped at 3,012,009,888 HEGIC.

HEGIC operates as an ERC-20 token. The network secures active hedge contracts and shields oracles from price manipulation by ensuring that the execution and maintenance of these contracts function independently of external price feeds.

You can buy, trade, or sell Hegic (HEGIC) on these exchanges: