Hedget is a decentralised protocol for options trading. By putting up collateral, users can create and trade different option series on chain. Decentralised option products allow users to hedge price fluctuation and also the risk in their collateralised lending positions.
The protocol also adds in support on Layer 2 to existing blockchains such as Ethereum to enable faster, cheaper, and more complex transactions. Hedget believes that risk mitigating DeFi protocols like decentralised options are necessary building blocks as the decentralized finance sector grows and matures.
The Investors/partners of Hedget include Chromia, FTX/Alameda Research, Orion Protocol, NGC Ventures and FBG Capital.
Hedget protocol introduces a native token for the governance and utility in the network. Users need to stake a small amount of HGET tokens in order to create and trade options products; they could also earn HGET tokens in the process proportional to the size of the trade. It is also used in the governance process if users would need to propose updates to the protocol.