HEX: The Blockchain Certificate of Deposit

HEX, created and launched by Richard Heart on December 2, 2019, positions itself as a blockchain Certificate of Deposit (CD). It operates as an ERC-20 token on the Ethereum network and aims to serve as a store of value, replacing traditional Certificates of Deposit in traditional financial markets.

Key Features:

  1. Store of Value: HEX is designed to function as a store of value within the Ethereum network, leveraging the emerging decentralized finance (DeFi) ecosystem.
  2. Smart Contract Mechanism: The Ethereum network is utilized for transaction layers, while the consensus code and staking mechanism are contained within the HEX smart contract.
  3. Staking Incentives: HEX allows users to stake their coins for a share of new HEX coin issuance (inflation). The smart contract penalizes early staking withdrawal and rewards larger amounts staked for longer durations.
  4. Distribution to Bitcoin Holders: HEX is distributed to Bitcoin holders based on a snapshot of the Bitcoin Unspent Transaction Output (UTXO) set taken on December 2, 2019. The distribution rate is 10,000 HEX per 1 BTC. This claim process is available only during the first year of launch.
  5. Incentivizing Positive Behaviors: HEX is designed to incentivize behaviors that encourage price appreciation and disincentivize actions that harm the price.
  6. Maximum Annual Inflation: After the first year of launch, the maximum possible annual inflation of HEX is set to be 3.69%.

HEX Price and Market Data:

  • Current HEX price: $0.009837 USD
  • 24-hour trading volume: $4,222,630 USD
  • CoinMarketCap ranking: #205
  • Live market cap: $1,705,889,816 USD
  • Circulating supply: 173,411,074,413 HEX
  • Max supply: Not available

Where to Buy HEX: HEX can be traded on various cryptocurrency exchanges, including Bitrue, Bitget, MEXC, SuperEx, and Uniswap v3 (Ethereum).

HEX’s unique approach to staking, distribution, and incentivizing positive behaviors distinguishes it in the blockchain space, making it an intriguing option for those looking for a blockchain-based store of value.

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