The CryptoDaily Guide to HEX.
It seems like just yesterday I wrote the article, “Claim Your Free HEX for Bitcoin Holders”. Time is flying by and the HEX Adoption Amplifier is almost 50% complete. Soon the Bitcoin free claims will no longer be eligible and I know many HEX owners, like myself, look forward to November 19th, which is approximately day 353, depending on where you live. This is the day that the HEX Adoption Amplifier and Bitcoin Free Claims end. If you have not claimed your Bitcoin or want to buy HEX in the AA Lobby here is the HEX link. Remember to buy and stake before day 353, to participate in the Big Pay Day!
Day 353 is when HEX gets really interesting for me. I know the community is also anxious to move on to the next phase.
What is HEX?
HEX is a Certificate of Deposit or Time Deposit on the blockchain. It is as simple as that. If you have ever gone to the bank you will see different CDs available with varying interest rates depending on how long you let the bank hold your money on deposit. The big difference is that there is no middle man. HEX pays all interest to the users who stake their HEX tokens. The longer you stake and the larger the amount, the more interest you make. See the chart below.
- HEX is built to benefit users who stake their tokens.
- HEX is built to benefit users who stake more tokens.
- HEX rewards users who stake tokens for longer periods.
- HEX penalizes users who unstake early and a portion of the penalties go to loyal stakers.
- HEX Interest increases or decreases depending on the percentage of users who stake.
- HEX share price only increases. When you stake, HEX tokens are burned and you now have HEX shares.
- HEX mints up to 3.69% of total supply a year to stakers. Fewer stakers equals more interest! See the chart above.
- HEX can be traded on a decentralized exchange. HEXDex.win which is Simpleswap.
- HEX pays trustless interest with no 3rd party risk.
- HEX Big Pay Day is coming on Day 353.
What is BPD or Big Pay Day?
On day 353 the Adoption Amplifier and Bitcoin Free Claim will close forever. Anybody who is staked through day 353 will be able to share in the tokens given out on BPD. The more you stake and the longer your stake affects the number of tokens you receive on BPD. Check the staking HEX page here.
What You Need to Participate in HEX.
I like to keep things simple for my readers.
- Download the Metamask wallet.
- Save your private key, somewhere safe offline.
- Buy Ethereum tokens.
- Send them to your Ethereum address in Metamask.
- Open the HEX AA Transformation Lobby. Use the link here to get a 10% Bonus.
- At the end of the daily transformation lobby, you can mint your tokens.
- Click on Stake and stake your tokens. I recommend, but it is not required, staking long enough to participate in the Big Pay Day on Day 353. Longer and Bigger pays better.
- Make sure you set your calendar to remind you when your staking period ends so that you can unstake and mint your tokens.
What I am Doing with My HEX.
I am setting up a ladder of stakes that mature on a quarterly basis. These payouts begin around day 500 and go out as far as day 3000. My plan is to restake the principal and sell the interest. The new restake will be after my current longest stake. I learned this technique from Hexologist who has a nightly live show about HEX.
If you have any questions about HEX, feel free to write to me on LinkedIN or Twitter. If I don’t have the answer to your question I will do my best to find it.