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HEX is a blockchain-based Certificate of Deposit (CD) created by Richard Heart on 2 December 2019. It is an ERC20 token built on the Ethereum network and aims to replace traditional CDs in the financial market. HEX leverages the emerging DeFi ecosystem within Ethereum. Transactions and interactions with the HEX smart contract occur on the Ethereum network. Users can stake HEX coins to receive a share of new HEX coin issuance and enjoy incentives for price appreciation. The HEX smart contract penalizes early stake termination and rewards larger stakes held for longer periods. HEX is distributed to Bitcoin holders through a snapshot of the Bitcoin UTXO set, with a distribution rate of 10,000 HEX per 1 BTC. HEX can also be obtained by exchanging ETH through the HEX smart contract. Unclaimed HEX coins by Bitcoin holders after the first year are distributed to active HEX users. The maximum annual inflation of HEX is designed to be 3.69% after the first year.
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What is $HEX and how does it work?
$HEX is an ERC20 token launched on Ethereum, designed to be a blockchain counterpart of Certificates of Deposit (CDs) used in traditional financial markets. $HEX is also designed to leverage off the emerging DeFi ecosystem in cryptocurrencies within the Ethereum network.
According to $HEX, its stakers can earn rewards everyday at a larger long-term yield than the inflation rate. By staking their $HEX, stakers reduce the supply, which puts upwards pressure on $HEXs price. They can choose a fixed timeframe from a single to 5555 days (about 15 years), while longer stakes earn more reward. HEXs time-locked deposits are more serious than the time component of T-Bills or Bonds, which can be sold, whereas staked HEX cannot ever be sold.
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- I'm interested in purchasing HEX coin. Can you please provide me with some information on where I can buy it? I'm looking for a reliable and secure platform to make my purchase. Thank you!2021-11-22
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- Can you provide some examples of how hex proce can be used in decentralized finance (DeFi)?2021-11-22
- Can you explain what hex staking is and provide an overview of how it functions in the cryptocurrency industry?2021-11-22
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