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What is Hex

HEX - the Crypto that keeps giving

By Zde | Hex / PulseChain | 12 Aug 2021


Did I get into HEX late ... or am I still early?  Only time will tell, but this feels hella pre-viral.

After dabbling with trading on eToro I soon realised it's not for me - it is anxiety inducing checking prices all the time.  But wait ... there is another entry point to crypto.  Another way to make gains, and chill doing it.

Somebody introduced me to HEX after hearing about the impending PulseChain ethereum hard-fork (more on that in a later post).  I blindly invested a small amount thinking the Sacrifice period was happening the following day and not wanting to miss out ... as it turned out it would happen 2 months later, which gave me a great chance to learn more about it.

HEX follows a Proof of Wait concept developed by its inventor Richard Heart.  Users have the choice to keep their HEX liquid and trade as they like, or lock that HEX away for a chosen period of time and earn interest (more HEX) on that staked crypto.  Of the circulating supply, about 10% is currently staked.

As a result of so much HEX being untouched, the price is designed to go up.  The staked HEX is effectively telling the liquid HEX - don't worry, we've got you covered.  And the longer you 'promise' to lock that HEX away, the more rewards you get.  Currently I'd say if you lock your HEX for 5 years you can expect it to double, 10 years and it will triple.

And that 'promise' you've made comes at a breakable price.  Yes you can end your stake early, but that divorce from your commitment comes at a price (if over halfway through the promise then this penalty comes from your interest, if before then it eats into your principal).  And who gets these penalties - well all the other stakers who are still living up to their promise.

So is it too late for you?  Absolutely not - HEX has been gate-kept from the wider community, but with Richard Heart recently making $27m fr charity and the impending fork of ethereum reaching the news outlets, those gates are coming down.

Hex is on the up, and I'm chilling until my stakes mature - then I'll look at the price and see what it's worth.

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Hex / PulseChain
Hex / PulseChain

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