Reviewing Hegic: flexible option setting system and auto-diversification of liquidity

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Hegic is an Ethereum and Bitcoin options trading platform.

The platform allows users to open positions for assets such as Bitcoin and Ether, as well as to trade on the platform and make a profit.

Hegic has implemented the functionality of centralized exchanges which provides options for trading, such as Deribit. 

How does Hegic stand out from the competition?

• It is a decentralized network, all functionality is implemented using smart contracts

• It offers a flexible option setting system

• Instant execution of the option at any time during the specified period is possible due to liquidity availability

• The platform interface is friendly to mobile users

• It performs auto-diversification of liquidity

What is an option?

An option grants the client the right (not the obligation) to purchase one or another asset at the current price in a given period of time. This tool can be used by traders to hedge risks and diversify their portfolio.

In April 2020, a serious bug was discovered in the smart contract, which could have led to the loss of platform users’ funds but they reacted in time. After updating the Hegic platform, another audit was passed and no errors were found.

Thanks for reading the article!

The article is written by Vlad Korenyugin and Mr. Anton Dziatkovskiy, the co-founder and CEO of Platinum Software Development Company.

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