What is a Hedget (HGET)? Complete set of HGET cryptocurrency

Today, let’s learn about Hedget (HGET), one of the IEO coins on FTX!

In this article we will learn about 3 main parts:

• What is a hedget, what is the idea and product of the project?
• The relevant information about the main Token of the project that we invest in?
• Finally, we will combine the above factors to review in an overview whether HGET Token is worth the investment or not?

What is a Hedget (HGET)?

Hedget (HGET) is a Protocol built on Ethereum and Chromia. It allows anyone using collateral to be able to create and trade different options products on the chain.

What problem does the Hedget (HGET) solve?

The 2 major problems that hinder the vast majority of users from participating in Defi applications are:

• High costs incurred.
• Huge volatility of Cryptocurrencies.

In recent times, decentralized finance (DeFi) applications are growing exponentially in terms of users and volume. As of September 2020, TVL in Defi applications has surpassed $8B.

While such rapid growth is amazing and a good thing, this growth also weighs heavily on the infrastructure (Ethereum), resulting in enormous costs.

In addition, the risk does not stop there, the vast majority of Defi applications today are built on Ethereum and tend to use ETH itself as collateral.

Cryptocurrencies themselves are quite risky because of their high volatility. You probably won’t forget the BTC crash that split ETH in half in one day, causing many positions held by DeFi users to be liquidated.

You may be interested: What is DeFi? Overview and future of decentralized finance

What is Hedget’s Solution (HGET)?

Transactions are not 100% processed on Ethereum thus reducing the relative costs for users.

• Ethereum Blockchain: Handling ETH and ERC20 Token deposits and withdrawals.
• Chromia-based blockchain (dapp): Processing transactions, payments.

In addition to partially limiting the volatility of ETH price for users:

• Stablecoins can be used during the payment process if the user prefers.
• More options at contract expiration (can choose to take the physical asset or only the profit).

Eg:

1. At the time when the ETH price was $200, Alice deposited 1 ETH into the Contract to create a “Call Option” for $200 a month later and she priced the option at $10.
2. Bob thinks the price of ETH will rise, so he buys Alice’s “Call Option” for $10. Bob can choose to pay with ETH, stablecoins or other Tokens supported in the transaction.
3. At the end of the month, ETH price rises to $250 Bob decides to exercise the “Call Option” that he bought. Bob can choose to transfer $200 to Alice in exchange for the 1 ETH that Alice deposited, or Bob can choose to only profit from “Call option on: $250 – $200 – $10 = $40.

   Conversely, if ETH price drops to $180 then Bob can choose not to exercise the “Call Option” he bought and lose $10 or he can deposit another $200 to get Alice’s 1 ETH back.

4. After the Crypto Assets or cash is settled the Option is closed.

What is HGET Token?

HGET is the Native Token in the Hedget ecosystem and is used for the following purposes:

• Anti-spam functions: Stake HGET Token is required to make transactions. The larger the transaction volume, the more HGET Tokens need to be Stake.
• Transaction Fee: Taker Fee can be paid in HGET Token.
• Governance: HGET Holders can Stake HGET to participate in voting on issues related to the Hedget ecosystem.

Some basic information about HGET Token

• Token Name: HGET Token.
• Ticker: HGET.
• Blockchain: Ethereum.
• Contract: Not yet announced.
• Token type: Utility + Governance.
• Token Standard: ERC-20.
• Total Supply: 10,000,000 HGET.
• Circulating Supply: Not yet circulated in the market.

Token Allocation HGET

• Liquidity Mining: 50%.
• Reserves: 18%.
• Team: 10%.
• Token Sale: 17%.
• Private Sales: 8.77%.
• Public auction: 4.23%.
• IEO at FTX (including airdrop and promotion): 2%.
• Strategic partnership round (Alameda Research, AKG Venture, Orion Protocol): 2%.
• Incentive Tokens: 4.5%.
• Loan from Alameda Research (liquidity provision): 0.5%.

Token sale HGET

Here is some information about the Token Sale of HGET Token:

• Private Sales: The project does not disclose details.
• Public auction: Auction in progress on Hedget.com: The price at the time I am writing this article is 5$. The auction will be completed on September 12, after which the FTX exchange will be listed.
• IEO at FTX (including airdrop and promotion): Maximum price per HET is 5$ + 56 FTT. September 12, will list FTX exchange.
• Strategic partnership round (Alameda Research, AKG Venture, Orion Protocol): Sell for $5/HEGET, Alameda Research buy 150K Token, AKG Venture 30K Token, Orion Protocol 20k Token.

Token Release Schedule

Liquidity Mining: Will run when Hedget Mainet, predicted Q1 – 2021. Then unlocked gradually, no more than 1 million HGET in the first year.

Reserves: Locked in for two years, the use of Reserves funds will be governed by the DAO when it is established.

Team: Unlocked monthly for 2 years.

Token Sale:

• Private Sales: Unlocked completely when the Public sale ends (September 12).
• Public auction: No lock.
• IEO at FTX (including airdrop and promotion): No lock.
• Strategic partnership round: No official information available.

Incentive Tokens: Used to attract users to participate in activities on the Hedget platform.

Loan from Alameda Research (liquidity provision) for 1 year: There is no official information.

HGET rate today

How to earn HGET tokens?

Currently, you can register to participate in Hedget’s auction process on the project’s homepage: www.hedget.com.

The simpler way to earn HGET is to wait for the HGET list of FTX exchanges and buy directly on the exchange.

You may be interested: What is FTX exchange? Instructions for registering and using the FTX exchange from AZ

HGET token storage wallet

HGET is an ERC-20 token, so you can store it on wallets that support this standard of Ethereum such as:

• Techtipsnreview Wallet: This is a multi-chain wallet product of Techtipsnreview Finance team. Allows storing most tokens of today’s popular blockchains such as Bitcoin, Ethereum (ERC-20, ..).
• Wallet Myetherwallet, Mycrypto, Metamask.

Refer to the article: USDT Techtipsnreview Wallet User Guide

Hedget Exchange (HGET)

Currently, HGET has not listed any exchanges. HGET will list the floor at the end of the public auction on the project homepage.

The Future of HGET Token

The Defi wave is growing stronger and stronger, billions of dollars have been locked in Defi applications. One of the most powerful developments in Defi is derivatives.

Derivative is a contract of value derived from another underlying asset. In this case the ETH Token.

These Contracts can be used to trade or use them to protect their positions and reduce risk in any particular transaction.

Looking back at HGET Token, this is the project’s Native Token, this Token can be used for administration, fees and is necessary for Trading on the Hedget platform.

In general, the value of Hedget is attached to Hedget’s ecosystem, the larger the ecosystem, the more value HGET brings to Holders.

Should invest in HGET Token?

I will summarize some important information about the project and its Token so that you can answer the above question yourself.

Ideas and products

Hedget basically brings the idea of ​​derivative products in the financial market into the Cryptocurrency market. This idea is quite cool and unique!

These Contracts can be used for trading or as a hedge against DeFi protocols (lending or leveraged protocols).

In addition, Hedget requires 100% collateral so the problem of asset liquidation is avoided.

Looking at the idea, Hedget is a project with high applications, but up to this point Hedget has not released any official product.

Team

Hedget’s team is published on the project website, in general Core team has a lot of experience in many different fields from Tech, Marketing, administration…

Prominent among them is Malcolm Lerider: Previously he was R&D Manager of NEO Blockchain, Senior Manager at PwC, Software Engineer at Accenture.

Please refer to it for more information here.

Investors

In the Hedget backed pool, there are a few quality names such as: FBG Capital, NGC Ventures, Alameda Research, AKG Venture, Orion Protocol.

In which Alameda Research is the organization behind the FTX exchange, one of the leading exchanges in the industry at the moment.

Tokenonics

The project’s 3 Token Use Cases are Anti-spam functions, Transaction Fee, and governance, increasing the demand for HGET Tokens in the long term.

In addition, when Mainnet Launch Team will run LP (Providing liquidity) to provide liquidity for Hedget Platform. In my opinion, this is a Sell Demand of HGET Token because then there will be a large supply released to the market.

Roadmap

The Hedget Roadmap can be summarized simply like this:

• Q3 2020: Testnet.
• Q4 2020: Mainnet launch (tradeable already).
• Q1 2021: Released DAO, Support others chains.
• Q2 2021: Support more features.

summary

Hopefully my last article has helped you have a better overview of the Hedget project as well as the HGET coin.

As for you, what do you think about the coin after this article. Please share your thoughts in the comments section at the end of the article!

I’m Vinh and I’ll see you guys in the next posts!