Read the original proposal on Discourse

TL;DR

• Proposal to whitelist HEGIC
• Co-investment limit of 500,000 BNT

Voting Instructions

For: add HEGIC to Bancor whitelisted tokens Against: do not add HEGIC to Bancor whitelisted tokens

The HEGIC ecosystem: On-chain options trading protocol on Ethereum

Project website Project documentation

Hegic is an on-chain peer-to-peer options trading protocol built on Ethereum.

The benefits to the DeFi ecosystem and its users are:

Holders: Trade WBTC & ETH call and put options. Non-custodial options with on-chain settlement. Choose any strike price, exercise at any moment.

Writers: Write WBTC or ETH call and put options.Provide liquidity and start earning yield on WBTC or ETH. Auto diversification of capital allocation.

Token Holders: Earn protocol’s fees in staking rewards. Receive liquidity mining & utilization rewards in HEGIC. Participate in staking and earn WBTC or ETH.

Hegic in Numbers

Hegic has achieved steady results in the second quarter since v888 beta launch. The protocol has surpassed the total amount of 3,200+ ETH options and 1,500+ WBTC options acquired (calls and puts combined) in the first six months after the launch. All these options contracts were bought by 1,368 unique users (options buyers).

10 Oct 2020 - 10 Apr 2021

Cumulative ETH Options - $150,011,713 ($3,725,533 fees generated) Cumulative WBTC Options - $141,278,505 ($3,479,591 fees generated) Total - $291,290,218 ($7,205,124 total fees generated)

Hegic TVL at moment of writing this report is sitting around ~ $61.2M

For detailed stats on Hegic, please visit: Token Terminal

Tokenomics

HEGIC Token Token standard: ERC20

HEGIC token on Etherscan: $0.2264 | Hegic (HEGIC) Token Tracker | Etherscan

HEGIC Token Distribution: 3,012,009,888 HEGIC tokens (fixed total supply, not mintable)

20% (602,402,000 HEGIC): Early Contributors 10% (301,200,988 HEGIC): Hegic Development Fund 40% (1,204,809,000 HEGIC): Liquidity M&U Rewards 25% (753,001,000 HEGIC): Bonding Curve 5% (150,596,900 HEGIC): Balancer Pool

Bonding Curve

The HEGIC token price increases as the supply of the token increases. When a new buyer has acquired the HEGIC token, each subsequent buyer will have to pay a slightly higher price for each token. As more people will discover Hegic protocol and buying continues, the value of each token gradually increases along the bonding curve.

Liquidity Mining & Utilization Rewards

The purpose of three Liquidity M&U Rewards phases is to let the users of the Hegic protocol to become its owners. Liquidity providers and options buyers vote with their wallets for the protocol. That is why they have to be able to influence its future and own a fraction of the protocol.

Community and Communication

Hegic is active on Twitter, Telegram (@HegicOptions), Discord, Github and Medium.

Available Audits

Hegic has been audited by PeckShield and the reports are available via the Hegic Github page.

Market and Trading Data

• Hegic price at the time of writing is $0.2329.
• All-time high: $0.642 (13 February 2021)
• All-time low: $0.043 (21 September 2020)
• Price 90 days ago: $0.270
• 425,355,246 tokens in circulation
• 3,012,009,888 maximum supply
• The current market capitalization is $99,325,486
• The Hegic token is available on major exchanges, including Binance, Gate.io, OKEx, BKEx, Hoo.com.