INTRODUCING HEGIC HERGE. PROTOCOL UPGRADE:. LIVE ON ARBITRUM. Battle-tested for 8 Months. Positive P&L on HardCore.
24 Oct 2022, 21:17
🔊🔔🔊🔔🔊🔔
INTRODUCING HEGIC HERGE
PROTOCOL UPGRADE:
LIVE ON ARBITRUM
🔔🔊🔔🔊🔔🔊
⛓ Battle-tested for 8 Months
💸 Positive P&L on HardCore
📶 $HEGIC Stake & Cover
⏳ Monthly Epoch Mechanics
🔥 New Trading Interfaces
🛡 Audited by PeckShield
BE THE FIRST TO
KNOW MORE 🆕👇
HARDCORE
During the last eight months, a new Hegic protocol architecture HardCore was tested in beta. The assumptions behind HardCore are at the heart and roots of Hegic:
💽 Peer-to-pool options trading
💽 Ability to generate positive P&L
💽 Distributing P&L with $HEGIC
NET POSITIVE P&L
Hegic HardCore has generated +$471,272 in net positive P&L during its beta phase which is claimable by hHEGIC holders, Hegic V8888 staking participants 📶💰 No token rewards or incentives were involved. Just options trading leading to pure cash flows 🌊💸
HEGIC IS HERGING
After a successful beta test of HardCore, Hegic is m... herging its mainnet and Arbitrum parts into one Arbitrum-based architecture ⛓♾ Starting today, Hegic will only be available on Arbitrum: withdraw your liquidity and unstake $HEGIC on mainnet 📘🌾
STAKE & COVER
After testing the system for eight months with a proxy in a form of hHEGIC, the $HEGIC token will now be used for collateralizing options & option strategies. The token holders will be providing utility to the protocol by putting $HEGIC into active work 🌊🏄♀️
EPOCHS
The token holders can allocate $HEGIC into Stake & Cover for a particular Epoch that lasts 30 days 🔐⚙️ You can't withdraw tokens during the active Epoch. It's possible to make a withdrawal request to get tokens at the end of an Epoch, after the P&L settlement 👩🏫🧮
7 DAY WINDOW
You can join a new Epoch in the first seven days. From the 1st to the 7th day of every Epoch the deposit window will be open for those who want to participate in Stake & Cover 🔐 📥 If you are already participating, no further action is required from you 🧘♀️☯️
EPOCH PRICE
For every new Epoch, the $HEGIC price is set based on the last 100 hours' average. This price is then fixed for the whole Epoch 🪙🏔 In the event of a negative P&L, this price will be used to convert $HEGIC into $USDC when settling to cover the difference 💵📤
HEGIC-to-USDC
For converting $HEGIC from Stake & Cover into $USDC if a P&L is negative at the Epoch's settlement, the Cover + Operational Treasury contracts are used 💧🃏 The initial $USDC liquidity has been allocated to the contracts from the Hegic Development Fund 🌊🐲
NEW INTERFACES
And with the protocol upgrade, Hegic Herge is proud to introduce brand-new trading and staking interfaces. A list of option strategies, charts, and intuitive options buy / exercise forms will be at your service 24/7 👩💻🔥 Zero fees, no KYC or registration 🏅
SECURITY AUDIT
The Hegic Herge Protocol Upgrade was audited by PeckShield 🛡✅ Find the security audit report here:
Hegic Herge is an experimental open source protocol in beta built on Ethereum. Use it at your own risk. SECURITY IS NOT GUARANTEED.
FEEL THE URGE
TO PLAY WITH HERGE
Hegic Herge is live on Arbitrum: Note that you'll need to bridge $HEGIC tokens into Arbitrum if you want to participate in Stake & Cover 💸🌾
Join Hegic Discord and discuss at # 🔥hegic-herge