On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Hegic will reward long-term traders, LPs, hodlers, and Discord users with its forthcoming governance token.
Decentralized finance protocol Hegic has announced a soft governance launch designed to reward its long-term users.
According to an April 19 announcement, Hegic intends to reward its most loyal users with its new gHEGIC governance token, straying from the public airdrops and yield farming campaigns that have become a popular means to distribute governance in the DeFi sector.
Users hodling gHEGIC will be able to vote in future Hegic Improvement Proposals.
Hegic is a decentralized on-chain derivatives protocol that allows users to purchase call and put options to speculate on Ethereum and Wrapped Bitcoin (wBTC). Users can provide liquidity to the protocol by selling options to buyers, earning a share of premiums paid to the pools.
“With the soft launch of Hegic governance, the most active and long-term oriented users of Hegic will own the protocol in terms of their influence on its future.”
Users who meet specific criteria will be able to participate in Hegic governance, including traders who purchase four or more options contracts acquired since the launch of Hegic v888, and liquidity providers who have provided at least 1 ETH or 0.05 wBTC to pools for more than 100 days without withdrawing.
Additionally, Hegic initial bonding curve offering, or ICBO, participants who have not sold a single HEGIC token since the incentive was launched in September 2020 will receive the governance tokens, as will the project’s most active members on Discord.
In addition to being eligible to receive the protocol’s forthcoming governance tokens, traders and LPs who qualify for governance will have the opportunity to receive $500 worth of HEGIC in exchange for providing feedback about the platform.
Minting and distribution of the governance token is currently slated to begin on May 1.
The beta version of the protocol, dubbed Hegic v888, was launched in October 2020, and has since gained significant traction.
The first quarter of 2021 saw 1,368 individual traders purchase 3,200 ETH options and 1,500 wBTC options worth a cumulative volume of $291 million. The total value locked at the end of the quarter was $59 million, though it has since fallen to $57 million according to DeFi Llama.
At the time of writing, HEGIC tokens were trading up 3.2% over the past 24 hours at $0.175, according to Coingecko.
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