As the world of cryptocurrency continues to expand, experts are persistent in creating and improving technologies that would make the crypto experience better for all users. One of the most recent innovations in the industry is dApps or decentralised applications such as the HedgeTrade dApp.
This system connects users directly without the need for a middleman, making social trading easier for traders. As there’s no single authority that controls the transactions, they can obtain HEDG tokens seamlessly.
Before delving into the unique features of HedgeTrade cryptocurrency, find out how it surfaced in the market through this comprehensive guide.
A quick history of HedgeTrade
HedgeTrade began as a decentralised application that aims to bridge the knowledge gap between beginners and experts in the crypto trading industry.
In late 2018, HEDG tokens were put up for sale through Rublix, a software development company based in Singapore that specialises in blockchain-related products and services. It was officially launched in 2019 and has continued to take over the crypto industry since.
The proponents of this enterprise include CEO and co-founder Dave Waslen, lead developer and co-founder Peter Danihel and COO Drank Danihel.
Rublix aims to provide trading services that are easy to access by the general public. They achieved this through the launch of HedgeTrade which enables new traders and professional investors to conduct business on the platform.
How the HedgeTrade Network works
HedgeTrade is built on the Ethereum blockchain and uses smart contracts to secure the trades and blueprints on its platform. A blueprint is uploaded to the blockchain as a self-executing smart contract once it is confirmed.
However, before their blueprints are posted on the platform for sale, creators must stake a certain amount of their HEDG token. Budding traders can then purchase these blueprints and acquire the insights of experienced investors about trading predictions.
HedgeTrade has a reward system based on the accuracy of the predictions. If the predictions turn out to be accurate, the blueprint creator acquires the payments of the buyers in exchange for their knowledge. On the other hand, the buyers benefit from the accuracy and usefulness of the blueprint.
However, if the predictions are not successful, the creators either lose or receive their stake while the buyers are given back all of their tokens.
Through this, misleading information about the crypto market can be avoided. Furthermore, experts and new traders can both benefit from each other through knowledge sharing on a secure platform.
Introducing the HedgeTrade cryptocurrency
HedgeTrade has its own native token called HEDG. Since HedgeTrade is a tokenised application, you will need HEDG token in your account to join the social trading platform.
Currently, HedgeTrade cryptocurrency holds a market capitalisation of $533,800,528 that ranks 230th among other assets. It has a circulating supply of 348,731,468.38 HEDG and is estimated to reach the maximum supply of 1,000,000,000.
Aside from serving as the native token, HEDG contributes to ensuring the security of the platform. HEDG tokens are at stake so they make sure that traders carefully analyse their predictions before creating and putting their blueprints up for purchase. As a result, every blueprint in the platform is made with careful intent and undergoes strict consideration.
Key features of HEDG
Proof-of-rank
Proof-of-rank is a set of formulas that ranks traders according to their records such as the birth of account, streak, viewership, unique contributors, number of successful blueprints, amount of HEDG earned and account age of contributors.
This way, users can assess the credibility of the traders and help them find out which blueprints to place their HEDG tokens on.
Blockchain oracle
Oracle is an agent on the HedgeTrade platform responsible for supplying values on the HEDG smart contract through secure measures, as well as maintaining its verifiable proof of integrity. It finds market information, validates and submits them to the blockchain, which the smart contract automatically implements.
Blueprint staking mechanism
Crypto traders use their expertise in the industry by creating predictions on the market that are contained in a blueprint. A blueprint also consists of trading information such as the entry and exit points on a market, as well as the trading pair and the exchange site where the trade will take place.
Blueprint creators decide on the expiration date of a blueprint which can last from 24 hours up to 365 days. Once the blueprint expires, the staked tokens will be rewarded either to the creators if the information proved to be correct or to the buyers otherwise.
Decentralised dispute resolution
The decentralised dispute resolution allows users to express their insights in case there is a dispute. If a user is in favour of or against a certain blueprint, they can cast their votes by staking HEDG coins.
Advantages of HedgeTrade
Suitable for beginners and experienced traders
HedgeTrade is specifically designed to allow beginners and professional investors alike to take part in trading. Navigating through the market can be confusing and hard to follow but with the guide of professionals, novice traders can learn and enhance their trading skills in no time.
User experience-focused
To give its users an optimal experience when using their platform, HedgeTrade makes sure that the interface is intuitive and easy to use.
How to use your HEDG
Now that you have enough knowledge about HedgeTrade cryptocurrency, here’s how you can use your HedgeTrade tokens:
Buying HedgeTrade coins
Although HEDG tokens are not yet available for use in direct purchases and exchange in the platform, users can acquire these tokens in two ways.
First, they can use BTC to buy HedgeTrade blueprints by depositing them into their account wallet. On the other hand, they can obtain HEDG tokens through various crypto exchanges such as CoinTigers, Bittrex, HitBTC, STEX, Bitcoincom, ProBit Exchange, Uniswap and Livecoin.
Storing HEDG
You can explore different types of wallets in storing your HEDG tokens. However, one of the best ways to store these coins is through an encrypted hardware wallet. Some of the wallets you can use are MyEtherWallet, Atomic wallet and Trust Wallet.
