> For the complete documentation index, see [llms.txt](https://hegic-1.gitbook.io/hegic/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hegic-1.gitbook.io/hegic/hegic.md).

# Hegic

## **Herge**

Hegic is a decentralized options trading protocol. "Herge" is the latest version with "one-click" strategies and improved UI.

* [Start Trading](https://www.hegic.co/app.html#/arbitrum/trade/new)
* [Github](https://github.com/hegic/contracts/tree/main/packages/herge/contracts)
* [Audit](https://github.com/peckshield/publications/blob/master/audit_reports/PeckShield-Audit-Report-Hegic-Herge-Protocol-Upgrade-v1.0.pdf)

Access old Hegic - [Here](https://hardcore.hegic.co/)

## Hegic Options

Hegic provides simple and diversified option strategies for users to choose from. Users can choose and place orders for compound option strategies directly from the web page.

Hegic <mark style="color:green;">Classic options are American options</mark>, meaning they can be exercised any time before expiry *as long as it's ITM.* Heigc <mark style="color:green;">Inversion options are European options</mark>, they will be automatically exercised at the expiration date.

Hegic Options are <mark style="color:green;">structured as ERC721 tokens</mark>. Hegic options are <mark style="color:green;">cash settled (in USDC)</mark>, the trader only needs AETH for gas (negligible amounts) and USDC for premium.&#x20;

Option sellers on Hegic are provided by liquidity providers with [Hegic tokens as collateral](/hegic/stake-and-cover.md), and the option pricing formula is written and maintained by the team.&#x20;

Hegic currently supports <mark style="color:green;">BTC and ETH options</mark>. With 4 sentiment strategies including Bullish, Bearish, High Volatility, and Low Volatility to choose from.&#x20;

* Options need to be manually exercised, otherwise, they will become worthless
* No secondary market for Hegic options, only exercise, no trading&#x20;

## $Hegic Token

Launched in 2020, Hegic is one of the oldest decentralized option protocols. See [Tokenomics ](/hegic/tokenomics.md)for more.

* Bridge to Arbitrum [here](https://bridge.arbitrum.io/)
* Unstake V8888 lots and/or rHegic2 [here](https://hardcore.hegic.co/)

## Founder

Hegic is founded and run by solo anon dev [Molly Wintermute](https://twitter.com/0mllwntrmt3). Read about her account of how Hegic was conceived and earlier struggles [here](https://t.co/00C3M4JIFY).&#x20;

Welcome to Hegic!