Hedget

Hedget

HGET
$0.086872067%-5.28

Key Metrics

Price$0.086872067
Real Volume (24H)$139,530.35
Marketcap$152,151.91
Fully Diluted Valuation$2,446,333
ATH$15.44
ATH Date9/13/2020, 12:48:32 AM
ATL$0.204647
ATL Date12/21/2022, 12:00:57 PM
Circulating Supply1.8M
Total Supply1.8M
WebsiteN/A
WhitepaperN/A
Popularity Rank3324
Chart
What is Hedget?

Hedget is a decentralized and non-custodial cryptocurrency options protocol that was launched in September 2020. The platform allows users to hedge against volatility in both directions, protecting against liquidation and insolvency. Hedget also offers a straightforward trading tool that can be used to profit from price movement in the market. With strategic investors and partners like Chromia, FTX/Alameda Research, Orion Protocol, NGC Ventures, and FBG Capital, Hedget has quickly become a popular choice among DeFi platforms and lenders.

The Hedget team believes that the development of global decentralized options markets is the logical next step for DeFi platforms and lenders. By enabling users to insure themselves against liquidation and insolvency, these platforms can provide more security and stability to the cryptocurrency market. Hedget has implemented solutions for several different blockchains, including Binance Smart Chain and Ethereum. In addition, Chromia is being incorporated as a Layer 2 enhancement for the Ethereum platform.

The Hedget foundation's long-term vision is to provide development and stewardship of the platform over the next several years, eventually establishing a DAO that will govern the rules and mechanics of the platform.

The Hedget Token (HGET) is the native utility and governance token of the Hedget platform. It is issued on the Ethereum network as an ERC-20 contract and will have representation on a Chromia sidechain as well as Binance Smart Chain.

To access the Testnet platform, users must stake HGET tokens. On the demo site, users trade with testnet tokens with no real value. However, the best performing traders will be rewarded automatically by the Hedget protocol with real HGET tokens upon the mainnet release on the Chromia blockchain in Q1 2021.

HGET tokens fulfill several functions on the platform. They are required to interact with the platform, and all trading commissions on Hedget are taken in HGET tokens. HGET tokens are also used to prevent spamming of orders, which can lead to API overloads and order book manipulation. Staking requirements increase as the monetary value and frequency of a user's interactions increase.

In the future, HGET tokens will also be used as a security measure and reputation engine when margined options are implemented. Options writers who wish to offer options without providing 1:1 collateral will need to stake HGET tokens, which will be used to purchase fully collateralized options as a hedge in case of Capital insufficiency risk. This mechanism ensures that end-users cannot be adversely affected by the insolvency of an options writer.

As the platform is further developed, a DAO will be established, and HGET tokens will be used to determine transaction fees, reserve requirements, and general functions and features of the platform. With its advanced capabilities and powerful set of tools, Hedget is poised to become a leading player in the fast-paced world of cryptocurrency trading.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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