Hegic is a decentralized finance (DeFi) options protocol that operates on the Ethereum blockchain. It enables users to create and trade customizable options contracts in a secure and trustless manner. These options contracts grant the holder the right, but not the obligation, to buy or sell an underlying asset at a predetermined price within a specific timeframe.
Hegic's main aim is to provide users with a seamless options trading experience in a decentralized manner, removing the need for intermediaries and traditional financial institutions. The protocol utilizes smart contracts to automate various aspects of options trading, such as settlement, exercise, expiration, and premium payments.
Additionally, Hegic employs a unique staking mechanism called staking-as-a-service (SaaS) that allows participants to stake HEGIC tokens in order to earn a share of the protocol's trading fees. The staking process helps to secure the network and provides incentives for active participation.
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