gm,
Molly Wintermute here, the founder and solo core developer of Hegic.
Wow! Just Wow! Hegic V8888 is live for six months in a row. What a ride! The real magic is currently happening on the traction side of the protocol.
TL;DR A constant double-digit monthly growth on every single metric. Trading volume, options, users, premiums, revenues, and more.
It’s my pleasure to share the key protocol metrics for the second quarter of Hegic V8888 being live with all of you. Every single metric presented below can be verified on-chain: feel free to double-check everything by yourself. Happy diving!
Hegic V8888 contracts:
● HEGIC Staking (ETH Staking Rewards)
● HEGIC Staking (WBTC Staking Rewards)
● HEGIC Staking (USDC Staking Rewards)
And if you are something of a developer yourself and you‘d like to DYOR on the technical part of the protocol, here’s the V8888 open source codebase:
● https://github.com/hegic/Hegic-v8888
For those of you who are new to the protocol: Hegic is an on-chain peer-to-pool options trading protocol built on Ethereum. With Hegic you can trade 24/7 American, cash-settled, on-chain ETH and WBTC call / put options with no KYC or registration required for trading. Hegic was founded in February, 2020 with the latest version released 6 months ago.
Key Protocol Metrics
374 unique addresses interacted with the protocol as options buyers since the Hegic V8888 launch. These V8888 users generated $391,900,000 in total options trading volume with 2,267 options acquired by them.
You can find all options acquired on Hegic V8888 here with each ERC721 token representing one option contract.
With regards to key financial metrics, the total value locked (TVL) metric was in a range of $8,888,000–$15,100,000. These funds are utilized to collateralize options that are acquired through the protocol.
The total revenues of Hegic V8888 for the first two quarters are $13,598,000 of which $9,386,000 — premiums received by liquidity providers who are selling options, and $2,346,000 — settlement fees (a share of the premium) earned by $HEGIC staking participants.
The average net revenues per user are currently sitting at $6,273 which means that one active options trader’s activity leads to $6K+ earned by $HEGIC staking participants on average.
An Upcoming rHEGIC2 Unlock Ceremony
Phase II tokens will be unlocked after the cumulative on-chain trading volume on Hegic during Phase II exceeds $1B or on 11/11/2022.
$288M in total cumulative volume left till the launch of the HEGIC Phase II Liquidity Mining & Utilization Rewards unlock ceremony. rHEGIC2 will be unlocked and claimable on a per-block basis with 100% of them unlocked in 9 months as per HEGIC Liquidity M&U Rewards unlock terms.
Have a nice weekend!
P.S.: Something is brewing…
Molly Wintermute
11/02/2022
DISCLAIMER: Hegic V8888 is an experimental open source protocol in beta built on Ethereum. Use it at your own risk. If you will lose any money using Hegic V8888, you won’t be compensated or refunded. Only use Hegic V8888 with money that you can 100% afford to lose. You can lose 100% of your funds provided to the Hegic liquidity pools. Hacks, security bugs and economic abuses can happen because of an experimental nature of beta version of the protocol. You won’t be compensated in case of any losses related to the Hegic protocol. If you do not agree with any part of this disclaimer never use the Hegic protocol / Hegic V8888.
ACQUIRING/HOLDING/OWNING/USING HEGIC TOKENS DOES NOT PROVIDE/GUARANTEE YOU OR ANYBODY ELSE DIVIDENDS OR ANY KIND OF RETURNS. ACQUIRING HEGIC TOKENS DOES NOT PROVIDE YOU WITH ANY RIGHTS IN ANY JURISDICTION. HEGIC TOKEN IS NOT A CURRENCY BUT AN INTERNET DIGITAL UNIT OF NON-FINANCIAL UTILITY THAT CAN BE USED SOLELY IN THE HEGIC PROTOCOL. THE HEGIC PROTOCOL SHALL NOT BE LIABLE TO YOU OR ANYBODY ELSE FOR ANY DAMAGE OR(AND) LOSSES IN ANY CONNECTIONS WITH HEGIC TOKENS. IF YOU DO NOT AGREE WITH ANY PART OF THIS DISCLAIMER NEVER ACQUIRE/HOLD/OWN/USE HEGIC.
