New York City, New York, Feb 15, 2021 – Today, Parachute, a DeFi platform, and token launched in 2018 announced the launch of their open-source decentralized financial derivatives protocol, Hedgey. Hedgey.Finance allows non-custodial options markets to self-launch while integrating Uniswap’s liquidity, oracles, and flash swaps for no-capital cash closings for its users.
On the launch, CEO of Parachute Lindsey Winder said, “On the surface, Hedgey feels like a Robinhood without the banks, brokers, or hedge funds. Under the hood, it opens a new world of possibilities for trading, hedging positions, and expanding the potential of the decentralized financial market. Before today, DeFi traders were mostly limited to buying and selling tokens. Today, anyone can build a market for the same tokens you buy and sell on Uniswap. It’s a huge step forward for DeFi.”
A few notes on Parachute and Hedgey:
- Parachute launched in 2018 with its native token $PAR
- As the latest product from Parachute, the official token of Hedgey is$PAR. Over the last three years, $PAR has been integrated throughout Parachute’s products and will be a staple of the theHedgey.Finance app.
- In Q2 of 2021, the Parachute DAO governance contracts will go live. Participants who stake $PAR in these contracts will receive a right-to-claim for their staked $PAR share in the amount of 80% of all Hedgey fees perpetually until voted differently by the DAO community.
About Parachute: Parachute is a DeFi-tech startup building new tools for old finance. Founded in 2018, Parachute has launched multiple platforms that bring DeFi to its users. With over 40,000 users and 2.5 Million transactions, its first product, ParJar, has become a hit for global communities on Telegram.
Source : Parachute