Are Hegic v888 Technical Analysis Yields in Staking Lots & Rewards or Liquidity Mining Future by 2023

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Taking part in phase one of its liquidity mining program, decentralized options platform Hegic launches its beta mainnet for staking.

After an audit by Peckshield, Hegic launched its beta mainnet today. 888,000 holders of HEGIC tokens can now begin earning lucrative rewards thanks to the launch of staking lots.

Hegic v888 Adds Staking Rewards

Hegic token holders with a balance above 888,000, more than $120,000 at press time, can now stake their holdings in lots. Hegic lot owners will earn 1% in fees on the options users buy to hedger their crypto trades. These owners are also responsible for governing the protocol.

With the v888 launch, users also have access to call and put options for Ethereum (ETH) and Wrapped Bitcoin (wBTC). These two assets are the most popular options contracts on centralized platforms like Deribit.

ETH options volume

ETH options volume. Source: Skew

The key difference between market leaders Deribit and Hegic lies in the latter’s non-custodial nature. And like many DeFi protocols, fees accrued within Hegic are distributed among agents in the ecosystem, be it lot owners, liquidity providers (LPs), and options holders.

The protocol’s LPs and options holders will begin earning tokens as part of v888’s liquidity mining opportunity. This marks the second token distribution event, following the IBCO in September

The protocol will distribute 1,320,000 tokens proportionate to LPs’ volume and another 330,000 tokens to options holders. According to marketing materials, this distribution is phase one of a three-phase liquidity mining program ending in 2023. 

Before leaping into the beta smart contract, the project’s pseudonymous creator, Molly Wintermute, has urged users to practice caution. 

Despite Peckshield’s security audit, Wintermute tweeted, “a thousand unknown security bugs/hacks vectors can still [be] in place. Use Hegic at [your] own risk!

Disclosure: One or more members of Crypto Briefing’s management team owns HEGIC. The company (Decentral Media Inc.) owns HEGIC. 

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