The HEGIC price update as of now is $0.01917. In the previous 24 hours, its trading volume was $60,819, and its value has decreased by -3.29%. As of now, HEGIC's live market cap is $20,620,002, and it is ranked as the #1124 on the Coincu. HEGIC has a circulating supply of 3,012,009,888 and a maximum supply of 3,012,009,888.

The Concept of Hegic

Hegic is an innovative options trading protocol that operates in a decentralized manner, enabling users to engage in peer-to-pool trading. This protocol is composed of two primary components, namely writers and buyers.

Buyers: These individuals are interested in purchasing call or put options on the Hegic platform. They have the flexibility to customize various parameters of the options, such as the time and strike price.

Writers: These are individuals who sell call or put options on Hegic, aiming to generate profits. Becoming a writer on Hegic is a simple process as users only need to provide liquidity to the Hegic Pool.

Main Features of Hegic

Hegic stands out as one of the leading projects in the cryptocurrency options trading field. It allows users to freely create and trade options for both ETH and wBTC accounts, with transactions starting from 10 ETH or 1 wBTC and above.

Moreover, Hegic benefits from a strong and widely-used community, ensuring there is sufficient liquidity for large transactions. The protocol is able to support options worth up to $1,000,000.

Similar to other options projects, Hegic can be effectively utilized for hedging purposes. Traders can buy options on Hegic to mitigate potential future losses and maximize their profit opportunities.

Hegic Token Model and Staking

Supply Side: Currently, only 10.16% of the Hegic token total supply is available in the market. Each month, the unlocked HEGIC tokens are sourced from the Development Fund and Early Contributors.

Demand Side: There exists a demand to purchase HEGIC tokens for staking purposes.

Hegic provides 3000 staking lots, allowing users to earn profits from the Hegic Protocol. The majority of these profits come from the settlement fee charged when options are purchased, which amounts to 1% of the total value of the options. As the transaction volume on Hegic increases, the demand for HEGIC tokens for staking purposes also rises.

However, each Hegic staking lot requires a minimum of 888,000 HEGIC tokens, equivalent to approximately $203,000. This high price may pose challenges for individuals, but two projects, namely zLOT and Hegicstaking, have been established to pool resources and enable those with limited HEGIC holdings to participate in staking.

Hegic Growth Strategy

Hegic's growth is directly linked to an increase in the number of users, leading to higher transaction volumes and subsequently boosting Hegic's revenue. To achieve this, Hegic must prioritize the following:

• Enhancing liquidity for options: Hegic has introduced a liquidity mining program to incentivize writers to provide liquidity, which contributes to improving overall liquidity.
• Offering user attraction benefits: Hegic has implemented a liquidity utilization program to attract users to trade options on their platform instead of centralized exchanges.
• Developing and integrating Hegic-based dapps: As a protocol, Hegic allows for the development of applications on its platform. By integrating with other dapps such as yearn (yhegic vault), WhiteheartDefi, and zOptions, Hegic can expand its user base and generate higher trading volumes.