HEX is designed to increase in value faster than anything else in history.
HEX is the first blockchain with the same characteristics of a traditional bank Certificate of Deposit. The longer the time-lock the more interest is earned. Instead of a bank and a sovereign nation, the HEX smart contract does all the work. It mints new coins at a fixed rate of 3.69% inflation per year and pays them as interest to the HEX time locked stakes. Users interact with the HEX smart contract directly to “deposit” and “withdraw” their HEX. There are no middle-men to trust or governments to arbitrarily inflate the HEX supply.
In the first year:
- HEX is free to Bitcoin holders with balances on the launch date snapshot (12/2/19) via the Claim Tool. All you have to do to claim your HEX is digitally sign a message with the Ethereum address you want your HEX to go to.
- Ethereum can be transformed to HEX via the Adoption Amplifier on-boarding program. Small amounts of Ethereum can yield large quantities of HEX due to the daily proportional payout of the Adoption Amplifier. Approximately ~300-500 million HEX will be distributed each day to those in the Adoption Amplifier based upon their percentage of Ethereum in the daily pool.
90% of the HEX claimed by Bitcoin holders will be time locked (staked) for a minimum of 350 days and up to 10 years. The amount of coins that are time locked and the dates they are eligible to be withdrawn is public knowledge on the HEX blockchain. This will provide stability in the market as people will know when to schedule their stakes to avoid liquidity surges.
The more HEX that is staked and for longer durations the less HEX will be available to be traded. This will have the effect of reducing supply. When supply is reduced and demand rises price follows.
Certificates of Deposits are the third largest bank product behind Checking and Savings accounts. HEX is the first blockchain CD. It provides interest to holders without any third party risk.