What is Hex?
Hex is an ERC20 token created by Richard Heart, it is essentially a crypto term deposit ecosystem. The smart contract allows bag holders to lock their coins for periods of time, in return the smart contract will pay out rewards as a percentage from a reward pool. The reward percentage is based on the length of the claim, the amount of Hex staked and the time the stake was done. It was launched as Bitcoin Hex but it has been rebranded as Hex.
Hex will pay passive income to all those who stake and claim their rewards.
How deos Hex Work?
It is a smart contract with functionalities to claim Hex and stake Hex. The claim can be done to all those holding Bitcoin. Claiming is a free Airdrop. Staking which is similar to a term deposit can be done by all those holding Hex.
How to claim Hex?
The first fifty weeks of claiming Hex are crucial because
- You earn 20% more if you claim in the first week.
- After that every week you wait to claim you will your claim reduced by .4% weekly.
- A penalty is applied to accounts holding more than 1,000 Bitcoins. This penalty is distributed to the stakers, but only in the first 50 weeks.
Steps to claim Hex Airdrop.
- Go to the Hex Website and familiarize yourself with it.
- Install MetaMask in your internet browser.
- Find the claim tool for Hex. Most likely this will be wallet.HEX.win, you can also check Richar Heart’s twitter for the latest on this.
- The claim tool will guide you through the process
- It will provide you with a text which you will need to sign using your Bitcoin wallet.
- In order to do this, make sure that your wallet supports the signing of messages. If your Bitcoin is on an exchange you will not be able to do this! Wallets such as trezor have this functionality.
- Sign the message provided by the claim tool.
- Paste the signature in the claim tool
- Press Submit.
How to stake Hex?
Hex staking will be done through Meta mask.
Things to understand:
- Any unclaimed Hex will be redistributed to the stakers, but this will only take place in the first 50 weeks.
- After the fifty weeks, all stakers will receive a bonus depending on how many people claimed. This will incentives people to spread the word on Hex.
- Satoshi will most likely not claim his Hex. This bag will be redistributed to all stakers in the first 50 weeks, this will make more people claim early. Creating more h0ype.
- All stakers dip into the same pool, the fewer stakers there are the larger the claim of those staking on the reward pool.
- Anyone who stops his term deposit will be penalized. This penalty will be distributed among the stakers.
- For every year you stake get 20% more claim on the staking reward pool.
Is Hex a scam?
Hex is being airdropped, how can stuff delivered for free be a scam? The same concept does not apply to those who buy Hex. In the Hex contract, there is a clause to pay a founder contract. This contract can be used to pay for marketing of Hex which will increase its value OR it will be used to dump Hex, which will reduce its value.
The earlier you claim the better.
The longer the stake the better.
Hex will provide a completely passive income to all those who stake it.
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