HEX.COM has revealed its Big Pay Day event, which will occur on November 19th, capping off a successful year-long debut phase.
Early HEX enthusiasts will enjoy a jackpot allocation of over 183 billion HEX. It valued at upwards of $1.5 billion at the time of writing, awarded to active stakes on this date (the term stake in crypto jargon, synonymous with time deposit). The Big Pay Day (BPD) is the name HEX gave to this one-time event. Also, the sole qualifying criteria are that a stake is operational before the BPD and expire after it. This HEX will seem to those with ongoing stakes (the Staker Class) like every other daily interest charged to their holdings, but much bigger.
Approximately $525 Million of HEX is Already in Active Stakes
It sparks interest and demonstrates investor trust; the median stake length is five years, while the longest stakes are 15. This level of verified on-chain dedication in HEX has no parallel. Also, it could link to a quality product that tailors to the market it serves.
The US and China have a combined total of $7.2 trillion in time deposits. This is a market that is 50 times larger than the peer-to-peer currency industry that Bitcoin was created to solve. It has $5 trillion in printed cash. HEX intends to solve the challenges associated with traditional time deposits by monetizing the time value of money in an entirely new and highly efficient manner.
The Requirement to Mine the Currency
One of the most significant disadvantages of Bitcoin and Ethereum is the requirement to mine the currency. This is by solving complex issues that necessitate the use of expensive computation hardware and electricity. The miners must then sell their Bitcoin and Ethereum to recoup their costs and profit. Rather than having mining fees and the resulting selling pressures, HEX users get rewards for just staking for periods of their choosing. This strategy pays The Staker Class handsomely for net positive purchasing and staking activity instead of selling. Furthermore, when staking HEX tokens, they withdraw from the circulating supply. This is also another crucial design feature for positively influencing supply and demand forces. With 100 percent uptime, HEX is proving its worth as a proof of concept.
In today’s society, investor participation is fiercely competitive. HEX’s continuous growth throughout 2020 has propelled it from an idea to a market valuation of more than $5 billion in less than a year. In order to engage investors, HEX set a new bar by differentiating itself from the Decentralized Finance, or DeFi. It packs by becoming a finished product before going online. This not only places HEX in a league of its own. But it also places it ahead of 99.99 percent of other digital currencies in terms of project status.
HEX furthermore appeals to investor confidence by prioritizing security through a sequence of independent audits by two of the world’s leading contracting auditors, Coinfabrik and Chainsecurity. In actuality, HEX may be the first token ever to undergo two independent security audits to ensure the code is free of the bugs and vulnerabilities that plague so many other DeFi tokens.
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