Chromia, a blockchain platform, has launched a DeFi protocol called Project Hedget for options trading. In the announcement, it has been mentioned that Project Hedget will help to add more functionality to the complete DeFi ecosystem. Along with this, it will also provide a lot of new ways for options trading.
As per Chromia, options play quite a huge role in the ecosystem of DeFi as demand is increasing rapidly. It is also able to raise $500,000 in a funding round which was led by NGC Ventures and FBG Capital.
Chromia’s Hedget will allow to trade and create options
This new Project Hedget of Chromia will be allowing the investors to trade and create options using collateral. This will also give them an ability to hedge price fluctuations that keep coming up.
It has been seen that due to the increase in Ethereum congestion, gas prices increased rapidly. Due to these increased prices, several crypto leaders have been looking for a change in the platform to lower the fees. Now Chromia’s Project Hedget will act as an alternative to all the congested protocols based on Ethereum. Hedget will also work towards minimizing the cost while performing transactions on the platform.
Hedget will use CHR token in the public sale
It has been mentioned that Hedget will be backed by HGET token and will be issued as an ERC-20 token. The project will be using CHR token of Chromia in a public sale which helps the firm to prevent the intervention of buyers.
HGET will be responsible for governing the changes made in the transaction fees and a lot of other things as well. It has been revealed that Malcolm Lerider will become the CEO of Hedget Foundation and the development team will also be led by him only. This launch is going to be a great step for the complete DeFi ecosystem.
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