Disclaimer: this section is continuously being updated as the project and PAR evolves. No rights can be derived from the contents.
Hedgey is a product built by Parachute and is a part of the Parachute Token (PAR) ecosystem. The Options contracts on Hedgey charge a fee on the premium for all sales of options from the option sellers (not on the writing, buying, or exercising). Those fees will be allocated to a forthcoming Parachute Governance Contract. In the interim, the fees will be sent to a company-controlled account. The plan is that once the staking contract is live the collected fees will be sent to the governance contract and distributed in the first distribution wave.
The governance contract should allow PAR holders to stake into the contract to vote on decisions such as fee amounts and other administrative functions of the parachute product ecosystem. As compensation for participating in these governing functions, the fees collected from various Parachute products, such as Hedgey, will be distributed as ETH to the PAR Stakeholders (aka PAR governance participants).
More on this topic to be explained when the Parachute Governance and Staking Contracts are launched.
The first Options Based Liquidity Program (OBLP) for the Parachute Binance Smart Chain Liquidity Program on PancakeSwap was a massive success. All participants were / will be rewarded Special Purpose Tokens to redeem for exclusive special PAR calls on Hedgey. If you want to view your SPTs be sure to add the contract to your wallet or portfolio tracker.