Proposal for Co-investment of 500k BNT on HEGIC pool
TL;DR
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Co-investment limit of 500,000 BNT
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It will open up space for LPs on the HEGIC side and potentially lead to an increase in the depth of the pool as LPs add liquidity
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A larger HEGIC pool will attract more trades from aggregators and professional market makers to Bancor which ultimately leads to more fees for our platform
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This proposal seeks to propose co-investment limit to 500k BNT in the HEGIC pool.
Abstract
There is currently $8M of liquidity in the HEGIC/BNT pool. This proposal is seeking to add single-sided capacity in the HEGIC pool by proposing the co-investment limit to 500k BNT.
For: agree to co-investment limit to 500k BNT in the HEGIC pool
Against: do not agree to co-investment limit to 500k BNT in the HEGIC pool
The HEGIC ecosystem: On-chain options trading protocol on Ethereum
Project Website: https://www.hegic.co/
Project Documentation: https://ipfs.io/ipfs/QmWy8x6vEunH4gD2gWT4Bt4bBwWX2KAEUov46tCLvMRcME
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: https://terminal.tokenterminal.com/dashboard/Hegic
Tokenomics
HEGIC Token
Token standard: ERC20
HEGIC token on Etherscan: https://etherscan.io/token/0x584bC13c7D411c00c01A62e8019472dE68768430
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, Discord, Github and Medium.
Twitter: https://twitter.com/HegicOptions
Telegram: Telegram: Contact @HegicOptions
Discord: https://discordapp.com/invite/znjdj8q
Github: Hegic · GitHub
Medium: Hegic – Medium
Defipulse: HEGIC | Stats, Charts and Guide | DeFi Pulse
Email: [email protected]
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.
