Chromia developed Hedget, a decentralized options trading protocol that has secured $500,000 in funding from FBG Capital and NGC Ventures. As demand for options grows in DeFi, Chromia views options as
Chromia developed Hedget, a decentralized options trading protocol that has secured $500,000 in funding from FBG Capital and NGC Ventures. As demand for options grows in DeFi, Chromia views options as a foundational piece of the ecosystem.
The platform enables traders to create and trade options contracts using collateral, allowing them to hedge against price movements in their leveraged positions. Hedget operates as an Ethereum layer-2 solution with its core options engine running on Chromia, granting developers freedom to architect complex options systems.
Trading on Ethereum has become expensive. Gas fees climbed from 10 GWei to 70 GWei in three months, pushing Vitalik Buterin and other protocol maintainers to advocate for network improvements. Developers propose solutions ranging from overhauling gas mechanics to adopting layer-2 approaches. Hedget fits this landscape by routing settlements through Ethereum while executing trades on Chromia, slashing transaction costs compared to pure Ethereum trading.
The protocol will distribute HGET, its native governance and utility token, as an ERC-20 contract on Ethereum with a corresponding token on the Chromia sidechain. The HGET DAO will govern core operations: transaction fee levels, reserve management, and order spam prevention to protect against the platform abuse that undermines other protocols.
HGET's public sale requires participants to stake CHR, Chromia's native token. This requirement filters out casual buyers and ensures serious commitment from purchasers.
Malcolm Lerider managed R&D at NEO before becoming CEO of the Hedget Foundation. His background in protocol development shapes the team's direction.
