Decentralized Financial Protocol Hegic has announced the launch of seamless governance designed to reward its loyal users.
According to an announcement posted on April 19, Hegic intends to reward its most loyal users with a new gHEGIC control code, misguided directives due to general air discharges and agricultural campaigns that have become a popular means of distributing control in the DeFi sector.
Users supporting gHEGIC will be able to vote on future Hegic improvement suggestions.
Hegic is a derivative of a decentralized chain protocol that allows users to buy speculative buy and sell options on Ethereum and Wrapped Bitcoin (wBTC). Users can lend money to the protocol by selling options to buyers and receiving a share of the premiums paid for the pools.
“With the soft release of Hegic administration, the more active and long-term users of Hegic will own the protocol in terms of their impact on the future.”
Users who meet certain criteria will be able to participate in the administration of Hegic, including traders who purchase four or more option contracts purchased since the launch of Hegic v888 and liquidity providers who have provided at least 1 ETH or 0.05 wBTC pools for more than 100 days without withdrawal.
In addition, members who have not sold a single HEGIC token since the launch of the incentive in September 2020 will receive control codes, as will the most active members of the project on Discord.
In addition to being eligible for incoming protocol control codes, eligible traders and LPs will be able to receive $ 500 worth of HEGIC in exchange for comments on the platform.
Distribution of the SDK and control code is currently scheduled for May 1st.
The beta version of the protocol, dubbed Hegic v888, was launched in October 2020 and has been gaining momentum since then.
In the first quarter of 2021, 1,368 individual traders purchased 3,200 ETH options and 1,500 WBTC options for a total of $ 291 million. The total proven value at the end of the quarter was $ 59 million, although it has since dropped to $ 57 million, according to DeFi Llama.
At the time of writing, according to Coingecko, HEGIC tokens have traded 3.2% in the last 24 hours to $ 0.175.