Spent a considerable amount of time in the last 3 weeks to make myself useful in the $hegic community. Today, I'll conclude that by doing some more personal research and potentially by sharing my thoughts - stay tuned and have a great weekend!
phew, reread the $Hegic whitepaper, read every tweet under the ☀️ — good and bad — and everything else I could find.
Let me introduce 𝘙𝘢𝘣𝘣𝘪
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( • . •)
/ > 🎩
a $Hegic Citadel resident who will be presenting everything I find worthy of sharing about Hegic:
📂 $Hegic
L 📂 What’s Hegic
L 📂 Roadmap
L 📂 Risks
L 📂 How to Use Hegic
L 📂 Built on Hegic
L 📂 Hegic Data
L 📂 tools
L 📂 weekly updates
L 📂 Hegic Twitter
L 📂 Hegic Strats
✨🎩✨ these tweetstorm folders are magically updated into the future
What’s the $Hegic Citadel you ask? That’s the place where all Hegicians hang out with at least 1 Hegic in their possession:
This tweetstorm is the result of the research I've been doing for myself to keep myself up to date on this derivatives project [and learn some new skills].
You'll notice I didn’t talk about price. If that’s why you’re here I urge you to make up your own numbers
Necessary disclosure to finish off: I own a mini stack of $Hegic and I'm a $Link OG (whatever that means). Also as a side-effect of this tweetstorm, I'll be entering this draw here, that will hopefully make 𝘙𝘢𝘣𝘣𝘪 the owner of a bigger "stake” ;)
All DeFi projects have inherent risks. At the very least be aware of these risks:
∙ Potential losses on selling options as a liquidity provider.
∙ Sending funds to the contracts instead of calling their functions.
∙ Funds provided to the pools are locked for 14 days.
∙ Inability to withdraw funds when liquidity pools are maxed out.
∙ Transferring write ERC20 tokens to other addresses.
∙ ChainLink ETH/USD and BTC/USD price feeds potential issues.
∙ Unexercised options’ profits (if any) will be lost after expiration.
these are only the risks presented by the developer of the projects, transparently out there for you to study:
First of all. For Hegic, the goal is to "be close to the current implementations of cryptocurrency options exchanges such as Deribit, FTX and others in terms of functionality".
From the white paper 20/02/2020
Let’s keep track of how it's going:
In 3 weeks we’ve reached $20,000,000+ total cumulative options trading volume. Not too bad for a project that many called dead after the incidents early this year.
While this is straight forward, please notice this warning:
I. Win big with call options: fixed price and unlimited upside.
II. Protect your holdings with put options or earn speculating.
III. Earn yield on WBTC or ETH in a set-and-forget manner.
IV. Participate in staking and earn rewards in WBTC or ETH.
🎩Buy PUT/CALL options and hedge your positions
⏺️ETH/WBTC
Choose your flavor
⏺️PUT/CALL
Long or short?
⏺️SIZE
How much are we betting?
⏺️STRIKE
Choose your strike price (changes your price, too)
Here are a few tweetstorms about $Hegic worth your 🕐:
“If you believe that $ETH will pump hard, then consider acquiring ETH call options. If you believe that the price of $ETH will tank -10%, -30% or even lower, consider acquiring ETH put options to protect the value of ETH.”
“I will be acquiring $HEGIC staking lots and will be collecting settlement fees from options bought on @HegicProtocol. The goal is the same, to publicly display how system works, what rewards are etc.”