Hegic Protocol Unveils Plans for a systematic Governance token launch
Last Updated: 21 April 2021
Hegic Protocol has announced its plans for a governance token. The token will be issued as a reward to long-term traders, Discord users, holders, and LPs.
Hegic, a DeFi protocol, has unveiled plans to launch a governance toke that will be rewarded to their long-term users. In its announcement, the firm stated that the new gHEGIC governance token would be issued as a reward to its most loyal customers. It will also be used for yield farming campaigns, which have become very popular in the DeFi space.
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As Bitcoin s rally pushes ahead, even its harshest detractors have been forced to mute their criticisms. Blockchain is the next frontier for financial applications, and with Bitcoin s market capitalization rivaling the GDP of some small countries, the world of finance is definitely in for some decentralization. Bitcoin s explosive growth finally has institutional investors perking their ears up to listen, but it s not necessarily the original cryptocurrency that s sparked their interest.
Decentralized Finance (DeFi) has been the name of the game for the last year, measuring record-breaking growth across multiple sectors. Since the start of last year, DeFi s Total Value Locked (TVL), or the total ETH locked into DeFi platforms, has grown from just under $700 million to over $50 billion today.
Amongst the best-performing assets in the crypto space over the past week, Terra (LUNA) has registered 18.9% gains over the weekend. Just behind AAVE (+19%), SNX (+20.8%), and SUSHI (+21.8%), LUNA has managed to outperform YFI and RUNE, two of the most resilient DeFi assets, per a Messari report.
Source: Messari
Developed by Terraform Labs as a blockchain to support stable programmable payment and an “open financial” infrastructure with a lending protocol and a synthetic assets platform, Terra’s ecosystem is composed of a basket of fiat pegged stablecoins. LUNA is used to “stabilized” this basket.
Terra has the ultimate objective of replacing banks, credit card networks, and payment gateways, as stated in the protocol’s official website. Therefore, Terra has created a blockchain layer with solutions that can be adopted by merchants and consumers. Since its inception:
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With prominent cryptocurrencies like
Bitcoin (BTC) and
Ethereum (ETH) trading at record high levels, retail investors have been looking at minor cryptocurrencies for gains. Since the year began, DOGE has returned over 4,842.81%. Yet, it s not the only low-priced cryptocurrency seeing interest this year.
BitTorrent (BTT)
: The token associated with the popular peer-to-peer file transfer network has returned 2,600.91% since the year began. BTT traded 1.6% lower at $0.078 at press time and has fallen 19.01% on a seven-day trailing basis. BitTorrent Inc issued a warning this month to followers on social media not to fall victim to a rumor regarding an upcoming BTT token burn on June 25. The token rumors had fueled a rise in the value of the cryptocurrency last month.