Gradual governance launch for long-term users announced by Hegic Protocols

Gradual governance launch for long-term users announced by Hegic Protocols

A soft governance launch that is developed to reward long-term users have been announced by Decentralized finance protocol Hegic

Also, with the new gHEGIC governance token, Hegic intends to reward its most loyal users. The yield farming campaigns and straying from the public airdrops have become a famous means of governance distribution in the DeFi sector

Hegic future improvement proposals will be enabled by users holding gHEGIC.

Hegic is a decentralized on-chain derivatives protocol that allows users to purchase call and put options to speculate on Ethereum and Wrapped Bitcoin (wBTC). Users can provide liquidity to the protocol by selling options to buyers, earning a share of premiums paid to the pools.

“With the soft launch of Hegic governance, the most active and long-term oriented users of Hegic will own the protocol in terms of their influence on its future.”

Users who meet specific criteria will be able to participate in Hegic governance, including traders who purchase four or more options contracts acquired since the launch of Hegic v888, and liquidity providers who have provided at least 1 ETH or 0.05 wBTC to pools for more than 100 days without withdrawing.

Additionally, Hegic initial bonding curve offering, or ICBO, participants who have not sold a single HEGIC token since the incentive was launched in September 2020 will receive the governance tokens, as will the project’s most active members on Discord.

In addition to being eligible to receive the protocol’s forthcoming governance tokens, traders and LPs who qualify for governance will have the opportunity to receive $500 worth of HEGIC in exchange for providing feedback about the platform.

Minting and distribution of the governance token is currently slated to begin on May 1.

 

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