Ask about Hegic · freeTotal Value Locked$9.2m
TVL by Chain
Arbitrum$8.25m
Ethereum$943,877
Key Metrics
Fees 30d-$20,396
Fees 30d by chain
Arbitrum$29,796
Fees 7d$3,024
Arbitrum$3,543
Fees 24h$31
Arbitrum$31
Cumulative Fees$3.39m
Arbitrum$8.34m
Revenue 30d-$20,396
Revenue 30d by chain
Arbitrum$29,796
Revenue 7d$3,024
Arbitrum$3,543
Revenue 24h$31
Arbitrum$31
Cumulative Revenue-$284,186
Arbitrum$5.35m
Holders Revenue 30d-$20,396
Holders Revenue 30d by chain
Arbitrum$29,796
Holders Revenue 7d$3,024
Arbitrum$3,543
Holders Revenue 24h$31
Arbitrum$31
Cumulative Holders Revenue-$284,186
Arbitrum$5.35m
Options Premium Volume 30d$31,743
Options Premium Volume 7d$3,543
Options Premium Volume 24h$31.05
Cumulative Options Premium Volume$11.36m
Options Notional Volume 30d$950,925
Options Notional Volume 7d$150,543
Options Notional Volume 24h$242
Cumulative Options Notional Volume$371.83m
Market Cap$15.05m
$HEGIC Price$0.014
Fully Diluted Valuation$15.05m
$HEGIC Volume 24h$7.50
CEX Volume$0
DEX Volume$153.88(2,051.73% of total)
Treasury$73.43m
Majors$46.85m
Stablecoins-$1.19m
Own Tokens$2.04m
Others$25.74m
Protocol Information
Hegic is an on-chain peer-to-pool options trading protocol on Arbitrum. You can trade ETH and WBTC ATM / OTM Calls / Puts & One-click Option Strategies on Hegic
Audits:
Methodology
TVL: TVL for Hegic is calculated using the HEGIC tokens deposited into Stake & Cover pool on Arbitrum and pools liquidity in USDC, ETH and WBTCView code on GitHubFees: Net premiums retained by the Hegic Stake & Cover pool: everything users pay into the Operational Treasury to open options/strategies, minus everything the treasury pays out on settlement.View code on GitHubRevenue: The same as Fees, the Stake & Cover pool keeps all of its net premiums.View code on GitHubHolders Revenue: 100% of net premiums accrue to HEGIC Stake & Cover pool participants.View code on GitHubOptions Premium Volume: Sum of value paid buying and selling options on the exchangeView code on GitHubOptions Notional Volume: Sum of the notional value of all options that have been traded on the exchangeView code on GitHubTreasury: Value of tokens owned by the protocolHacks
Date: Apr 25, 2020
Amount: $28,537
Classification: Protocol Logic
Technique: Deposit Logic Flaw
Chains: Ethereum
Language: Solidity
Target Type: DeFi Protocol
Competitors
Hegic history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Oct 10, 2020 to Oct 23, 2026.
All-time high TVL: $112.97m on Jan 9, 2021. All-time low TVL: $1.26m on Oct 10, 2020.
Daily TVL, Sep 24, 2026 to Oct 23, 2026
| Date | TVL |
|---|---|
| Sep 24, 2026 | $9.95m |
| Sep 25, 2026 | $9.96m |
| Sep 26, 2026 | $9.94m |
| Sep 27, 2026 | $10.03m |
| Sep 28, 2026 | $9.96m |
| Sep 29, 2026 | $9.95m |
| Sep 30, 2026 | $9.82m |
| Oct 1, 2026 | $9.87m |
| Oct 2, 2026 | $10.01m |
| Oct 3, 2026 | $9.89m |
| Oct 4, 2026 | $9.91m |
| Oct 5, 2026 | $10.05m |
| Oct 6, 2026 | $9.89m |
| Oct 7, 2026 | $9.96m |
| Oct 8, 2026 | $9.62m |
| Oct 9, 2026 | $9.46m |
| Oct 10, 2026 | $9.51m |
| Oct 11, 2026 | $9.4m |
| Oct 12, 2026 | $9.51m |
| Oct 13, 2026 | $9.35m |
| Oct 14, 2026 | $9.57m |
| Oct 15, 2026 | $9.27m |
| Oct 16, 2026 | $9.31m |
| Oct 17, 2026 | $9.23m |
| Oct 18, 2026 | $9.22m |
| Oct 19, 2026 | $9.23m |
| Oct 20, 2026 | $9.35m |
| Oct 21, 2026 | $9.38m |
| Oct 22, 2026 | $9.35m |
| Oct 23, 2026 | $9.19m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $14.85m |
| Dec 31, 2024 | $13.4m |
| Jan 31, 2025 | $21.66m |
| Feb 28, 2025 | $17.25m |
| Mar 31, 2025 | $11.71m |
| Apr 30, 2025 | $16.29m |
| May 31, 2025 | $17.79m |
| Jun 30, 2025 | $15.66m |
| Jul 31, 2025 | $19.04m |
| Aug 31, 2025 | $23.55m |
| Sep 30, 2025 | $18.53m |
| Oct 31, 2025 | $16.54m |
| Nov 30, 2025 | $12.26m |
| Dec 31, 2025 | $12.42m |
| Jan 31, 2026 | $11.09m |
| Feb 28, 2026 | $8.72m |
| Mar 31, 2026 | $9.26m |
| Apr 30, 2026 | $9.95m |
| May 31, 2026 | $9.6m |
| Jun 30, 2026 | $8.22m |
| Jul 31, 2026 | $9.21m |
| Aug 31, 2026 | $9.59m |
| Sep 30, 2026 | $9.82m |
| Oct 23, 2026 (latest) | $9.19m |
TVL at each year end, Dec 31, 2020 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2020 | $80.81m |
| Dec 31, 2021 | $13.84m |
| Dec 31, 2022 | $9.3m |
| Dec 31, 2023 | $14.71m |
| Dec 31, 2024 | $13.4m |
| Dec 31, 2025 | $12.42m |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | -$19,857 | -$19,857 | -$19,857 |
| Dec 2024 | $93,929 | $93,929 | $93,929 |
| Jan 2025 | $35,941 | $35,941 | $35,941 |
| Feb 2025 | $62,777 | $62,777 | $62,777 |
| Mar 2025 | $61,145 | $61,145 | $61,145 |
| Apr 2025 | $22,143 | $22,143 | $22,143 |
| May 2025 | -$147,243 | -$147,243 | -$147,243 |
| Jun 2025 | -$2,644 | -$2,644 | -$2,644 |
| Jul 2025 | -$55,486 | -$55,486 | -$55,486 |
| Aug 2025 | -$296,542 | -$296,542 | -$296,542 |
| Sep 2025 | $45,266 | $45,266 | $45,266 |
| Oct 2025 | $107,884 | $107,884 | $107,884 |
| Nov 2025 | $101,304 | $101,304 | $101,304 |
| Dec 2025 | $17,820 | $17,820 | $17,820 |
| Jan 2026 | -$46,734 | -$46,734 | -$46,734 |
| Feb 2026 | $33,373 | $33,373 | $33,373 |
| Mar 2026 | -$76,002 | -$76,002 | -$76,002 |
| Apr 2026 | $23,270 | $23,270 | $23,270 |
| May 2026 | $30,090 | $30,090 | $30,090 |
| Jun 2026 | $10,101 | $10,101 | $10,101 |
| Jul 2026 | $3,765 | $3,765 | $3,765 |
| Aug 2026 | -$65,255 | -$65,255 | -$65,255 |
| Sep 2026 | -$44,619 | -$44,619 | -$44,619 |
| Oct 2026 (to date) | -$15,491 | -$15,491 | -$15,491 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/hegic
Frequently asked questions
What is Hegic's TVL?
As of Oct 23, 2026, Hegic has $9.2m in total value locked. TVL has decreased 10.7% over the past 30 days.
What chains does Hegic operate on?
Hegic operates on 2 chains: Arbitrum and Ethereum. Arbitrum holds the largest share at 89.7%.
How much has Hegic generated in fees and revenue?
Over the past 30 days, Hegic generated -$20,396 in fees. Of that, -$20,396 was protocol revenue. Based on the trailing year, the annualized rate is -$14,866 in fees and -$14,866 in revenue.
What is the HEGIC token price and valuation?
HEGIC is currently trading at $0.014. Its circulating market capitalization is $15.05m, ranking it #1,216. Its fully diluted valuation is $15.05m. Supply currently stands at 1.078b circulating, 1.078b total supply, 1.078b maximum supply.
How has HEGIC performed recently?
HEGIC is down 2% over the past 7 days and down 11.2% over the past 30 days. Its all-time high is $0.64, reached on Feb 13, 2021. The token is currently 97.8% below that level.
How does Hegic's TVL compare to similar protocols?
Among Options protocols tracked by DefiLlama, Hegic ranks #2 by TVL. The category holds $208.63m across 73 protocols, and Hegic accounts for 4.4% of that total. Similar protocols include SOFA.org, Siren, Pods Finance, Cega V1, Thetanuts Finance, Premia V2, TYMIO, Derive V1, Cega V2, and Opium.
Does Hegic have a treasury?
Hegic has a tracked treasury currently valued at $73.43m. Its holdings include $46.85m in major assets, $2.04m in its own tokens, $25.74m in other assets.
Has Hegic ever been exploited?
Hegic has 1 recorded security incident. The most recent incident occurred on Apr 25, 2020 and involved $28,537. It was classified as Protocol Logic.