TM Rating: 78% |
Review Date: March 16th, 2021
Hedgey is an options trading protocol, built to run on both Ethereum and Binance Smart Chain, powered by Uniswaps liquidity, oracles, and flash swaps. It lets any Ethereum community self-launch a derivatives market for its token, as well as anyone with Metamask to buy, sell, and launch options contracts through their non-custodial smart contract. Hedgey was built to feel like a centralized options platform while providing a completely non-custodial experience. Hedgey is part of an ecosystem being built around PAR, the Parachute Token, and the token will provide governance rights as well as a share of the fees generated by the protocol.
Hedgey is in its early stages and just recently launched. While the protocol is unaudited and should be used with a lot of caution as they are currently running a bug bounty, we liked the source code we saw from their public repositories. Parachute organization has been working on decentralized applications for a few years now, and we are confident in the team being able to deliver proper work. Only time will tell if Hedgey is able to capture a reasonable share of the market, but considering the low marketcap, it looks interesting. The token associated with Hedgey, $PAR, is already trading and available on Uniswap and Hotbit.