What is Coverage (HGET)? Launched in September 2020, Hedge is a decentralized, non-custodial cryptocurrency options protocol. Hedge has a long list of investors and strategic partners, including Chromia, FTX/Alameda Research, Orion Protocol, NGC Ventures, and FBG Capital. The Hedge team believes that developing global decentralized options markets is the next logical step for DeFi lenders and platforms. With the ability to hedge against volatility in both directions, these platforms (as well as casual users) will be able to insure themselves against liquidation and insolvency. Furthermore, hedging options can also be used as a simple trading tool to benefit from price movement in the market. The team prioritized exploiting the capabilities of different blockchains. Hedge has an implementation developed for Binance Smart Chain, as well as a separate implementation on Ethereum. Furthermore, Chromia is incorporated as a level 2 upgrade for the Ethereum platform. The long-term vision of the Hedget foundation is to provide the development and management of the platform for years to come, ultimately establishing a DAO that will govern the rules and mechanisms of the platform. The Hedge Token (HGET) is the Hedge Platform's native utility and governance token. It is issued on the Ethereum network as an ERC-20 contract and will have representation on a Chromia and Binance Smart Chain sidechain. HGET acts as the governance token of the Hedge platform. Token holders can vote (directly on the blockchain or via the UI https://hedget.com/proposals/) to add new assets, default option parameters, and UI improvements. There is a Testnet platform https://hedget.com/demo/ (hosted on Chromia testnet) which users need to stake HGET tokens to access. On the demo site, users will trade testnet tokens with no real value, but the Hedge protocol will automatically reward top-performing merchants with real HGET tokens upon the launch of the mainnet on the Chromia blockchain in Q1 2021. HGET token will perform various functions on the Chromia blockchain platform. HGET tokens will need to be staked to interact with the platform and all trading fees on Hedge will be taken in HGET tokens. HGET is also used to prevent order spam, which can lead to API overload and order book manipulation. Participation requirements will increase as the user's monetary value and frequency of interactions increase. In the future, the HGET token will also be used as a security measure and reputation engine when margined options are implemented. Option writers who wish to offer options without providing a 1:1 collateral will need to target HGET tokens to be used to purchase fully collateralized options as a hedge in the event of capital shortfall risk. This mechanism ensures that end users are not adversely affected by the insolvency of an option writer. As the platform develops further, a DAO will be established and HGET tokens will be used to determine transaction fees, reserve requirements, and general platform functions and features. Hedging Protocol Fee Structure: Taker Fee 0.04% of underlying Maker Fee 0.02% of underlying The difference of 0.02% between the Taker and Maker fees will go into a special reserve that will be locked until a DAO, at which time the DAO will regulate the use of funds The option buyer will pay a settlement fee of 0.02% + ETH fees (if settled in Ethereum) In the first 3-4 years, this 0.02% settlement fee will be paid by the liquidity pool system, thus rewarding option writers and reducing the overall commissions for the option buyer HGET Token Circulation - The protocol provides for a fixed maximum supply of 10,000,000 HGET tokens. 1,717,170 tokens were created during the TGE and distributed between private and public sale buyers, as well as equipment according to the Whitepaper 88,888 ERC20 HGET have been mastered on Ethereum Mainnet and will be issued on Binance Smart Chain in January 2021. The remaining tokens will be issued over time, as stated in the Whitepaper. Most of these will be distributed through a Liquidity Mining program that rewards both market makers and Hedge protocol users.