Our veredict

Hegic stands out as an innovative platform in the realm of decentralized finance (DeFi), providing users with the flexibility to create custom options on the Ethereum blockchain. It offers a unique on-chain options trading experience where users can specify any strike price and expiration date, which is a significant advantage over traditional platforms that have pre-set parameters. Hegic’s use of pooled liquidity also means that it can offer competitive rates and a simplified process for liquidity providers. However, the complexity of the platform might be a hurdle for those new to options trading, and there are risks associated with smart contract vulnerabilities that have affected the protocol in the past.
For those interested in decentralized, non-custodial options trading with a high degree of flexibility, Hegic presents a compelling choice. However, it is essential to consider the technical knowledge required to navigate the platform effectively and the potential risks involved.

Pros

Cons

3

Threenvest Score

Network

Ethereum

Fees

1%

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Why choose Hegic?

Choosing Hegic for your options trading needs comes with several compelling advantages. First, Hegic offers unparalleled flexibility by allowing traders to create options with any strike price and expiration date, which is not commonly available on traditional options platforms. This feature enables you to tailor your trading strategies more precisely to your market outlook and risk appetite​.
Secondly, Hegic’s non-custodial nature ensures that you maintain full control over your funds at all times. Transactions are executed through secure smart contracts on the Ethereum blockchain, reducing the risk associated with centralized exchanges. This setup enhances transparency and trust, as all trades are publicly verifiable on the blockchain​.
Lastly, Hegic’s innovative use of pooled liquidity simplifies the process for liquidity providers while offering competitive premium rates for traders. The transition to bidirectional liquidity pools, where ETH and WBTC pools are used for both call and put options, is set to improve liquidity further and make the platform even more attractive to a broader range of users​.
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EIP and Cryptocurrency Investor

As an expert on our site, I highly recommend Hegic for your options trading needs. The platform’s flexibility in allowing any strike price and expiration date is a game-changer, providing a level of customization rarely seen in traditional options markets. Additionally, the non-custodial nature of Hegic ensures that you maintain control over your funds, which is crucial for security-conscious traders. Lastly, the innovative pooled liquidity model offers competitive rates and simplifies the process for liquidity providers, making Hegic an excellent choice for both novice and seasoned traders looking to leverage decentralized finance benefits.

How do we review crypto exchanges?

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We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.