Every step is verified and recorded.
Hedgix separates the interface from the source of truth. The frontend helps you choose. The contract does the checking.
- 01
Connect wallet
Your wallet address is the sole owner of any protection you purchase.
- 02
Choose protection
Select product, asset, event level, and coverage duration from the registry.
- 03
Review registry terms
The interface shows supported products, assets, event levels, durations, premiums, payouts, and Binance symbols from the registry.
- 04
Submit purchase
The contract re-fetches and verifies the registry terms, including duration, premium, payout, trigger rule, and Binance symbol.
- 05
Fetch Binance ticker
During the purchase transaction, the contract fetches the Binance live ticker and stores the Locked reference price.
- 06
Store Locked reference price & trigger
The exact Locked reference price, reference timestamp, trigger price, coverage dates, premium, and payout are written to the policy record.
- 07
Coverage starts (next UTC day)
Coverage begins on the following UTC day so it always maps to fully closed daily candles.
- 08
Sequential settlement
Each closed Binance daily candle is checked in order. Open candles and skipped dates are rejected.
- 09
Compare daily low
The daily low is compared with the stored trigger. Depeg thresholds are absolute USD values; price-drop triggers come from the Locked reference price.
- 10
Policy state
Status transitions between ACTIVE, TRIGGERED, PAID, EXPIRED, and CANCELLED are stored by the contract.
- 11
Claim payout
If the protection is Triggered, the policyholder submits a claim transaction to receive the reserved payout from the underwriting pool.
Why coverage starts the next UTC day
Settlement is aligned to fully closed daily candles. Starting the next UTC day guarantees the first candle observed is complete and verifiable.
Why settlement waits for a closed candle
Only closed candles have a final daily low. Using intra-day values would introduce ambiguity into a rule-based product.
Why frontend values are not trusted
The contract re-fetches product terms from the registry and market data from Binance itself. What you enter is only the request.
How GenLayer validators verify data
GenLayer validators run the fetch and reach consensus on the observed result — so nondeterministic inputs like a price call become verifiable, deterministic on-chain values.
Reserved liability
For every active protection, the pool reserves the maximum payout. Withdrawable balance is what remains after all reservations.