> 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/tokenomics.md).

# Tokenomics

## $Hegic Token Addresses

* [0x431402e8b9dE9aa016C743880e04E517074D8cEC ](https://arbiscan.io/token/0x431402e8b9de9aa016c743880e04e517074d8cec)(Arbitrum)
* [0x584bc13c7d411c00c01a62e8019472de68768430](https://etherscan.io/token/0x584bc13c7d411c00c01a62e8019472de68768430) (Ethereum)

## $Hegic Token Supply

| Initial supply           | 3,012,009,888     |                                                                                                                                                                    |
| ------------------------ | ----------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------ |
| Burn                     | 1,934,325,163     | 2/3 of the supply burned on 2022-02-22. [Link](https://etherscan.io/token/0x584bC13c7D411c00c01A62e8019472dE68768430?a=0xdead000000000000000042069420694206942069) |
| **Current total supply** | **1,077,684,725** |                                                                                                                                                                    |

### Initial distribution (circa Sept. 2020)

<figure><img src="/files/BA2Ybrsb0MgEftGanpOG" alt=""><figcaption><p><a href="https://medium.com/hegic/announcing-hegic-token-liquidity-mining-utilization-rewards-and-staking-d1dd6605f2cd">Source</a></p></figcaption></figure>

* [3,012,009,888](https://etherscan.io/tx/0xe5972cb9382fa5c9170e53025ca7eb704d3f231687254cddde34f0dec92d2444) total initial token supply
* Initial Bonding Curve Offering (IBCO) sold [90,360,300](https://etherscan.io/token/0x584bC13c7D411c00c01A62e8019472dE68768430?a=0x1b8782d4a7da5b63a934e78a6563fdd122e9915d) token at [$0.13 each](https://twitter.com/HegicOptions/status/1305571255295381505?s=20\&t=Qwzel_Hn_DYVzpUSWWbsfA)
* Around 32k ETH was raised (currently still holding [22k ETH](https://etherscan.io/address/0xd884aca1897ac45515cee6d5fd48f341b4023ace))
* Hegic Developer Fund (HDF) have not sold [tokens](https://twitter.com/HegicOptions/status/1426861688540774401?s=20\&t=Qwzel_Hn_DYVzpUSWWbsfA)
* The February 2022 token burn reduced all but HDF's token holdings

<figure><img src="/files/uUgIwJHgxY3fKjfs7b8q" alt=""><figcaption><p><a href="https://etherscan.io/token/0x584bC13c7D411c00c01A62e8019472dE68768430?a=0xdead000000000000000042069420694206942069">Source</a></p></figcaption></figure>

### Best guess float calculation&#x20;

<figure><img src="/files/FEfliotPczN8pJ74Rpkd" alt=""><figcaption><p>Close enough</p></figcaption></figure>

* **1,077,684,725 total token supply**
* Balancer pool was completely burned, early contributor holding substantially reduced
* 190.59M $rHegic2 will be [converted](https://medium.com/hegic/hegic-hardcore-beta-release-2573a2d4cb3d) into 190.59M $Hegic throughout 2022, this is left out
* Including HDF and accounting for $rHegic2 conversion, current circulating $Hegic number between [720-760mn](https://etherscan.io/token/0x584bc13c7d411c00c01a62e8019472de68768430#balances)&#x20;

## $Hegic Supply / Demand

$Hegic is the core and blood of the Hegic ecosystem. Users can use $Hegic to participate in the [Stake & Cover](/hegic/stake-and-cover.md) activities.

If you want to bridge your token from Ethereum to Arbitrum and vice versa, you can use the official bridge: [here](<https://bridge.arbitrum.io/ >).

* Currently, the only way new $Hegic tokens enters circulation is via redeeming $rHegic2 tokens (see below).
* Tokens are pulled from circulation if a staking epoch ends up *in a loss*, where the tokens are taken away from the stakers and kept in the contract. See [Stake\&Cover.](/hegic/stake-and-cover.md)

## $rHegic2: Hegic IOU Token

Token address:

* [0xAd7Ca17e23f13982796D27d1E6406366Def6eE5f](https://etherscan.io/token/0xad7ca17e23f13982796d27d1e6406366def6ee5f) (Ethereum)

$rHegic2 was used in one of the previous versions of the protocol as an incentive to LPs and options traders. Its only purpose is to be redeemed for $Hegic 1:1 at a later date.

New $rHegic2 is no longer issued.

Redemption stage is already running since \~ Jun 3 2022 (see [announcement](https://twitter.com/HegicOptions/status/1532799365651349506)), and the triggers were:

* $1B of trading volume reached
* or on 2022-11-11, whichever comes first

These tokens are linearly unlocked for claiming over a period of 9 months (ends 2023-03-03).

Redeem [here.](https://hardcore.hegic.co/app#/mainnet/swap-rHEGIC2)