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DeFi Cook Profile picture
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31 Oct, 7 tweets, 2 min read
$WBTC $ETH
( •_•) (•_• )
( ง )ง ୧( ୧ )
/︶\ /︶\

How to use Hegic. Quick and dirty:

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)

⏺️PERIOD
Choose your holding period

⏺️CONFIRM
Done.
🎩Stake your $Hegic tokens and earn

⏺️GET HEGIC
Get your Hegic tokens from Uniswap, the Bonding Curve (at some point) or whatever your rewards were from using the protocol

⏺️STAKE
You just stake!

⏺️EARN
You just claim!
To stake on the main protocol you need 888'000 Hegic, but check the other options built by the community



I'll also provide a walkthrough.
🎩Provide liquidity and earn

⏺️ETH/WBTC
Choose your flavor

⏺️DEPOSIT YOUR FLAVOR
That's it your done. See your returns come in. Attention: option writers are exposed to risk by the nature of the business transaction.
Thought you needed magic powers to do that? No, that's it, you're done.
┏┓
┃┃╱╲ in this house
┃╱╱╲╲ we
╱╱╭╮╲╲ hedge
▔▏┗┛▕▔
╱▔▔▔▔▔▔▔▔▔▔╲
╱╱┏┳┓╭╮┏┳┓ ╲╲
▔▏┗┻┛┃┃┗┻┛▕▔

• • •

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More from @deficook

DeFi Cook Profile picture
31 Oct
One of the things I’m excited about is to observe winning strategies with $Hegic. This is the place.

There are already interesting approaches out there
such as
or this person who purchased a 3000 ETH call option [ultimately too bold]
Read 4 tweets
DeFi Cook Profile picture
31 Oct
🎩Risks

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:

medium.com/hegic/hegic-pr…
Read 5 tweets
DeFi Cook Profile picture
31 Oct
🎩Hegic, Quo Vadis?

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.
For October we’ve had
- ✅ v888 launch
- ✅ Hegic liquidity mining and utilization rewards kicked off
- ✅ Hegic staking kicked off
Read 6 tweets
DeFi Cook Profile picture
31 Oct
Here are a few tweets about $Hegic worth your 🕐:

—𝘙𝘢𝘣𝘣𝘪 says: “obviously heavily handpicked and subjective, but interesting nonetheless”
Read 9 tweets
DeFi Cook Profile picture
31 Oct
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.”

—Hegic v888, @HegicOptions

“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.”

—0xDRNKY, @CryptoDrunky

Read 11 tweets
DeFi Cook Profile picture
31 Oct
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

{\__/}
( • . •)
/ > 🎩

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
Read 16 tweets

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