HEX Continues To Dominate DeFi With 100% Uptime + Stakers Getting Paid Daily 40% Avg APR
HEX.com has succeeded in bringing banking’s second most popular product — the time deposit — to the blockchain. This week marks another all-time high in HEX, with tokens trading above 3 cents for the very first time. Additionally, The Staker Class in HEX is paid an average 40% APR yield on top of HEX’s price appreciation for committing to stake tokens for time periods of their choosing. Leading the way not only in decentralized finance (DeFi), but also outperforming other markets, HEX appears to be attracting more users now than ever.
Growth Markers Never Before Seen in Crypto
At the time of writing HEX is ranked #13 with a market cap of $16.1 billion; over $1.75 billion are in active stakes receiving high interest payments every day. The average HEX stake length is over 5.5 years; the longest stakes are 15 years. The onchain commitment observed in HEX with its time locking feature of staking is unprecedented in cryptocurrency.
While it is one thing to HODL a cryptocurrency, it is quite another to receive high yield on it. In Bitcoin if you want to get paid yield on top of price you have to take risk: you have to give your Bitcoins to someone else to lend them out in order to get that yield. You hope they come back; sometimes they do not. In HEX you — and you alone — control your private keys to your stakes which receive high yield paid out every single day. If you lock up your HEX by staking it then you’re going to make more HEX. Much the same with traditional bank time deposits: the longer you commit to lock up your HEX, the more HEX you earn.
What is HEX's Specific Use Case?
“If you want to replace banks, you’ve got to replace all of their products. And what is their second most popular product? The time deposit.” -Richard Heart, Founder of HEX
The United States and China have over $8 Trillion in time deposits. This is a 60% larger market than the peer-to-peer cash market Bitcoin was designed to address, where printed cash totals about $5 Trillion.
With superior product-market fit and a 60% larger market than Bitcoin’s, HEX addresses a very specific and massive global use case. While it is still early days in HEX, many are surprised to learn HEX is a finished product designed to easily absorb the whole of the world’s time deposits while continuing to pay high yields.
Stake HEX and Watch it Multiply
Staking HEX continues to see a trend of month-over-month growth observed in total interest paid to active stakes. In the past 30 days approximately $12.9 million in HEX has been paid to The Staker Class. At the time of writing some 29,300 active stakes are open, receiving trustless interest paid daily — every day — at 00:00:00 UTC.
The Staker Class in HEX — in and of itself — is a powerful market bound by immutable conditions that cannot ever be compromised. Confidence in this market is measurable by stake length and size, with over $1.75 billion in HEX locked up to 15 years at the time of writing.
The fact that The Staker Class in HEX is willing to burn their right to their dollar value today in exchange for much greater ROI deliverable in the future is something the cryptocurrency world has never seen before, especially not with such growth trajectory and magnitude.
HEX Spotted in The Economist
Last month HEX made its second appearance in The Economist, found on page 75 of its April 3rd publishing:
In this sighting of HEX its performance metrics and staking mechanism are discussed, along with additional details that can be easily found exploring HEX.com.
In fact, across the last year there have been HEX sightings all over the United Kingdom; taxis, busses, billboards, newspapers, as well as global magazines such as The Economist, Car and Driver, Card Player and reportedly others.
The Competitive Advantage: An Economic Moat
HEX set a new standard in security and transparency when it went live on December 2nd, 2019 by launching fully complete with 3 separate audits by 2 of the top contract auditors in the world. This marked an extreme rarity in crypto — launching as a finished product — separating HEX from 99.99% of other cryptocurrencies which appear to remain in perpetual project status reliant upon promises of future work.
In HEX there are no expectations of future work, as its founder, Richard Heart, explained in his October 15, 2020 interview with HardForking:
“HEX was delayed almost a year to get security right, which is why it has 3 audits; 2 security audits, 1 economics audit. HEX has no admin keys. No off switch. No pause switch. It’s fully autonomous. If HEX.com goes offline, I die, the system continues to work fine. It is unstoppable: the code is on the blockchain. You run it. You mint your own rewards. That’s it.*”
Staking HEX: Zero to Expert in 3 Minutes
Having more shares in HEX is a lot like stacking up more Bitcoin miners for more hashrate without having to own the miners or pay the electricity bill. The more shares you have, the more HEX minting power you have.
Why HEX May Continue To Soar
Because HEX maintains complete data transparency, 100% of activity is observable onchain — even the contract itself is openly viewable. If you take a look what you see are many millions of dollars in HEX pouring into stakes every day, with more funds staked today than ever before.
Complementing HEX’s user experience is the Staker App which can be found at Staker.app — available on both iOS and Android — making HEX easier than ever to buy and stake. Staker even allows the user to pay gas fees with their choice of HEX, USDC, or ETH.
The onchain commitment, high yielding APR, and the powerful market of The Staker Class is something that has never been seen in crypto before.
This cannot be done with Bitcoin, but with HEX it can. So if storing value securely, addressing the time value of money, and reducing pollution by rewarding stakers instead of miners are good things, HEX’s future may indeed be very bright.
Find Out More About HEX:
⬣ More Info: HEX.COM
⬣ News and Updates: Follow on Twitter @HEXcrypto
⬣ Community: Engage, Q&A, Have Fun: https://t.me/HEXcrypto
📺 Watch LIVE HEX Daily News Every Day, 3:40pm MST on Twitch: The Hexologist
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