# Ledig Derivatives

> Product guides for Ledig's onchain hedging protocol. Understand buying protection, providing liquidity, exercise, settlement and risks.

- [What is Ledig?](https://docs.derivatives.ledig.io/index.md): Understand Ledig’s onchain hedging product, the people who use it and how an option works.
- [How hedging works](https://docs.derivatives.ledig.io/how-hedging-works.md): Follow a practical example of buying an exchange-rate right, exercising it or allowing it to expire.
- [Markets and terms](https://docs.derivatives.ledig.io/markets-and-terms.md): Read an option market correctly, including its token pair, fixed rate, premium, minimum amount and expiry.
- [Premiums and fees](https://docs.derivatives.ledig.io/pricing-and-fees.md): Understand the upfront cost of an option, how writer offers are combined, and how premiums are divided.
- [Getting started as a buyer](https://docs.derivatives.ledig.io/getting-started.md): Prepare the correct wallet, participant approval and tokens before purchasing an option.
- [Buying protection](https://docs.derivatives.ledig.io/buying-protection.md): Select a market, understand the quoted premium and confirm an immediately filled option purchase.
- [Exercising and expiry](https://docs.derivatives.ledig.io/exercising-and-expiry.md): Use all or part of an option, understand token settlement and avoid losing the right at expiry.
- [Providing liquidity](https://docs.derivatives.ledig.io/providing-liquidity.md): Understand what a writer commits, how offers earn premiums, and what happens when a buyer exercises.
- [Managing collateral](https://docs.derivatives.ledig.io/managing-collateral.md): Follow your locked and withdrawable balances, cancel unsold offers, and release unused collateral after expiry.
- [Claiming proceeds](https://docs.derivatives.ledig.io/claiming-proceeds.md): Collect premium earnings and exercise payments, and understand why these receipts are separate from collateral withdrawals.
- [Where funds are held](https://docs.derivatives.ledig.io/funds-and-controls.md): Follow collateral, premiums and exercise payments through the protocol, and understand the controls around them.
- [Risks and limitations](https://docs.derivatives.ledig.io/risks.md): Understand buyer costs, writer obligations, token risks and the practical limits of using the protocol.
- [Frequently asked questions](https://docs.derivatives.ledig.io/faq.md): Answers about buying protection, exercise, writer earnings, collateral and access.
- [Glossary](https://docs.derivatives.ledig.io/glossary.md): Plain explanations of the terms used in Ledig's onchain hedging guides.
- [Troubleshooting and support](https://docs.derivatives.ledig.io/troubleshooting.md): Check common purchase, exercise, claim and withdrawal problems without repeating transactions blindly.