HEX went live on 2 December 2019 and was trading at $0.0002 on 17 December. It took till May 2020 before it saw its first price surge. This came as the total value locked (TVL) into the staking protocol climbed from below $50m in early April to $340m on 15 May, according to DeFi Llama. On the same day, HEX closed at $0.006.
The cryptocurrency rallied again in November after a staking app that supported HEX went live. The staking token reached $0.0014 on 1 November.
The staking token saw the start of its biggest rally in May 2021, when it climbed above the $0.01 mark to a daily high of $0.06965 on 14 May. This followed the platform becoming much more popular and the TVL soaring in value – by 14 May, its TVL come close to $4bn.
HEX peaked again, closing on 15 July 2021 at $0.1715. Heart started to launch his own blockchain, titled PulseChain that month. This is an Ethereum hard fork that was initially created to allow HEX holders to avoid the high gas fees. Along with HEX, Heart created another cryptocurrency titled PulseX, which investors could preorder in July.
The price of HEX then went on to skyrocket in September, racing to a daily high of $0.4893 on 10 September and a daily high of $0.4927 eight days later. Confusion was sparked by the effect this surge had on its market cap.
HEX has fallen dramatically since, hitting lows of $0.02866 on 18 June. However, as of 25 July and at the time of writing the token is trading at $0.04167. According to data from CoinMarketCap, HEX is the 201st-largest crypto by market cap. Will more investors be convinced to start staking HEX again?
Topic: What do you think about HEX? (Read 204 times)
People say that HEX is a ponzi or pyramid scheme but people aren't paid out from other people's deposits, they are paid out from inflation and contract fees. It's a clever protocol but it needs more sources of revenue to sustain the 40% APY that it yields. That's where MAXX Finance comes in, it is an upgraded HEX contract with additional revenue from validator nodes, token transaction fees, and a suite of DeFi DApps. Plus, just like the original HEX contract where BTC holders could claim HEX free, MAXX is giving away free MAXX tokens to HEX holders.
HEX is a smart contract itself, so technically it's not a "scam" nor a "Ponzi". It's basically a decentralized certificate of deposit that gives a high APY to "hodlers" of the HEX token. Comparing HEX's price since launch and today's price, I'd say it has been working as intended. It hasn't brought the attention of mainstream investors yet, maybe because big players like Ethereum, Cardano, and Bitcoin are doing even better than HEX. I'm yet to see what's all the "fuzz" about MAXX Finance, especially when it claims to be an alternative to HEX. What might kill mainstream adoption for HEX could be the high ETH gas fees, so MAXX has all of the advantage to take the world by storm. The market is still in bearish mode, so I'd proceed with caution to avoid huge losses in the long term. Just my thoughts
I see but what is the point of Certificate of Deposits? It is just to force people into holding onto their tokens, isn't it? Intuitively I would say that even the code required for that is quite simple.
I liked Richard Heart, watched his videos for a while but then he became a bit weird. Not that he isn't weird anyway (kind of
), but I didn't think he would go for a scam or at least something that is very much in the grey zone to say the least.
What I fail to see is how Certificates of deposits are seriously beneficial. Do they solve a real problem? The whole point is to get some interest on your deposits right? In the end the real question is who sells their coins quicker than others to make some good profit. The whole incentive structure (even referrals I think) seems to be implying that this might be more of a pyramid scheme than solution to a real problem.
I liked Richard Heart, watched his videos for a while but then he became a bit weird. Not that he isn't weird anyway (kind of
), but I didn't think he would go for a scam or at least something that is very much in the grey zone to say the least.What I fail to see is how Certificates of deposits are seriously beneficial. Do they solve a real problem? The whole point is to get some interest on your deposits right? In the end the real question is who sells their coins quicker than others to make some good profit. The whole incentive structure (even referrals I think) seems to be implying that this might be more of a pyramid scheme than solution to a real problem.
If it's a pyramid scheme, then HEX would be no different than a HYIP (High Yield Investment Program). The code is open source, so anyone can modify it to their hearts' content. I'd like to see a better version of HEX that would focus itself on being as legitimate as possible. Otherwise, the concept of "Certificate of Deposits" on the Blockchain would simply become a failed experiment.
I've claimed some free HEX from the BTC airdrop, so I've got nothing to lose. The slight uptrend in price since launch, has made me a couple of "bucks" in return. I'd be wary of pouring money into HEX if the rumors of Richard Heart are true. Newcomers don't know much about crypto, so they'll fall for the scheme easily. If Richard Heart gets caught by the authorities, you can rest assured that HEX's price will go all the way down the drain. This reminds me of the "Paycoin" scam by the infamous Josh Garza. The coin didn't last long enough before it went downhill at a very fast pace. Who knows if the same happens with HEX in the future?
I see but what is the point of Certificate of Deposits? It is just to force people into holding onto their tokens, isn't it? Intuitively I would say that even the code required for that is quite simple.
I liked Richard Heart, watched his videos for a while but then he became a bit weird. Not that he isn't weird anyway (kind of), but I didn't think he would go for a scam or at least something that is very much in the grey zone to say the least.
What I fail to see is how Certificates of deposits are seriously beneficial. Do they solve a real problem? The whole point is to get some interest on your deposits right? In the end the real question is who sells their coins quicker than others to make some good profit. The whole incentive structure (even referrals I think) seems to be implying that this might be more of a pyramid scheme than solution to a real problem.
I liked Richard Heart, watched his videos for a while but then he became a bit weird. Not that he isn't weird anyway (kind of
), but I didn't think he would go for a scam or at least something that is very much in the grey zone to say the least.What I fail to see is how Certificates of deposits are seriously beneficial. Do they solve a real problem? The whole point is to get some interest on your deposits right? In the end the real question is who sells their coins quicker than others to make some good profit. The whole incentive structure (even referrals I think) seems to be implying that this might be more of a pyramid scheme than solution to a real problem.
If it's a pyramid scheme, then HEX would be no different than a HYIP (High Yield Investment Program). The code is open source, so anyone can modify it to their hearts' content. I'd like to see a better version of HEX that would focus itself on being as legitimate as possible. Otherwise, the concept of "Certificate of Deposits" on the Blockchain would simply become a failed experiment.
I've claimed some free HEX from the BTC airdrop, so I've got nothing to lose. The slight uptrend in price since launch, has made me a couple of "bucks" in return. I'd be wary of pouring money into HEX if the rumors of Richard Heart are true. Newcomers don't know much about crypto, so they'll fall for the scheme easily. If Richard Heart gets caught by the authorities, you can rest assured that HEX's price will go all the way down the drain. This reminds me of the "Paycoin" scam by the infamous Josh Garza. The coin didn't last long enough before it went downhill at a very fast pace. Who knows if the same happens with HEX in the future?
Correct me if I am wrong but wasn't there a discussion that part of the transaction fees goes to the developers or even Richard Heart himself? I am not entirely sure where saw it or read it. I have been following Richard Heart for quite a while, but stopped doing so as it became a bit boring over time. He bashed Ethereum for so long, then found out it is hard to set up reliable own code and publicly changed his mind about Ethereum out of a sudden.
I don't know the protocol very well, can't really judge whether it is worth an investment.
I don't know the protocol very well, can't really judge whether it is worth an investment.
I haven't taken the time to verify HEX's code in order to determine if people's claims about Richard Heart are true. If they are, then HEX would be nothing more than a scam designed to fill the founder's pockets with money. I hope that doesn't turn out to be the case, as the project had potential to revolutionize "Certificates of Deposit (CDs)" on the decentralized crypto/Blockchain space. At least, the smart contract's code is open source so anyone can build another project that would leave the founder "out the system".
Unfortunately, there's not much interest in making HEX alternatives since most people are focused on other big players on the market. All of the attention is on NFTs, "De-Fi" lending platforms, and AMMs (like Uniswap and PancakeSwap). As long as this is the case, HEX will remain as the only "decentralized" certificate of deposit on the Ethereum blockchain. How far will the token go, will greatly depend on mainstream demand as usual. I'd proceed with caution in case everything fails in the future. Just my thoughts
I see but what is the point of Certificate of Deposits? It is just to force people into holding onto their tokens, isn't it? Intuitively I would say that even the code required for that is quite simple.
I liked Richard Heart, watched his videos for a while but then he became a bit weird. Not that he isn't weird anyway (kind of
), but I didn't think he would go for a scam or at least something that is very much in the grey zone to say the least. What I fail to see is how Certificates of deposits are seriously beneficial. Do they solve a real problem? The whole point is to get some interest on your deposits right? In the end the real question is who sells their coins quicker than others to make some good profit. The whole incentive structure (even referrals I think) seems to be implying that this might be more of a pyramid scheme than solution to a real problem.
HEX so far still chooses staking which is quite profitable, many are buying HEX, the price is so strong, currently HEX is very much in demand in the market so many improvements have made HEX an investment that is looking for because the price is still cheap and has a more profitable staking value, indeed I am waiting long time for HEX to be traded on the Binance exchange which has a greater trading appeal.
The HEX team tried to contact Antonop (the author of Mastering Bitcoin book) to shill their project on Antonop's twiter with a price of 10 BTC. The offer was made last year.
https://twitter.com/aantonop/status/1293974232377032705
Price is very high and climbs too much and is not safe to enter. More than 60 times from price in March or April last year.
Quote
I've been offered 10BTC to do an interview about HEX to show that it is not a scam.
I was not asked to disclose the payment. Draw your own conclusions.
This announcement is free.
I was not asked to disclose the payment. Draw your own conclusions.
This announcement is free.
https://twitter.com/aantonop/status/1293974232377032705
Price is very high and climbs too much and is not safe to enter. More than 60 times from price in March or April last year.
Correct me if I am wrong but wasn't there a discussion that part of the transaction fees goes to the developers or even Richard Heart himself? I am not entirely sure where saw it or read it. I have been following Richard Heart for quite a while, but stopped doing so as it became a bit boring over time. He bashed Ethereum for so long, then found out it is hard to set up reliable own code and publicly changed his mind about Ethereum out of a sudden.
I don't know the protocol very well, can't really judge whether it is worth an investment.
I don't know the protocol very well, can't really judge whether it is worth an investment.
I haven't taken the time to verify HEX's code in order to determine if people's claims about Richard Heart are true. If they are, then HEX would be nothing more than a scam designed to fill the founder's pockets with money. I hope that doesn't turn out to be the case, as the project had potential to revolutionize "Certificates of Deposit (CDs)" on the decentralized crypto/Blockchain space. At least, the smart contract's code is open source so anyone can build another project that would leave the founder "out the system".
Unfortunately, there's not much interest in making HEX alternatives since most people are focused on other big players on the market. All of the attention is on NFTs, "De-Fi" lending platforms, and AMMs (like Uniswap and PancakeSwap). As long as this is the case, HEX will remain as the only "decentralized" certificate of deposit on the Ethereum blockchain. How far will the token go, will greatly depend on mainstream demand as usual. I'd proceed with caution in case everything fails in the future. Just my thoughts
If I understand correctly from what Richard Heart said back then, those who hold their tokens will get rewarded. He wants to create scarcity in the circulating supply (in the sense of traded supply) by penalizing moving your coins.
So what exactly is the purpose of the token? For payment? Or for collection? What will cause this certificate to "worth" something?I can't really understand the need of a new token, especially if it's created just for the sake of it.
HEX is a new kind of token which serves as a decentralized "certificate of deposit". Investors can either be rewarded or penalized based on what they do with their HEX on the blockchain.
Now let say you talk about "penalized", does it mean that if any transaction carries out on the blockchain without proper recoding or account of utility such users on individual will tracked or what?
Please could you throw more light about what you mean by the word "Penalized".
If I understand correctly from what Richard Heart said back then, those who hold their tokens will get rewarded. He wants to create scarcity in the circulating supply (in the sense of traded supply) by penalizing moving your coins. Certificate of deposit then should be the certificate that entitles you to a reward because it testifies that your tokens have not been moved for a certain period of time from a specific address, which leads to an accordingly calculated reward.
HEX is a new kind of token which serves as a decentralized "certificate of deposit". Investors can either be rewarded or penalized based on what they do with their HEX on the blockchain.
Now let say you talk about "penalized", does it mean that if any transaction carries out on the blockchain without proper recoding or account of utility such users on individual will tracked or what?
Please could you throw more light about what you mean by the word "Penalized".
Despite the fact that some people were calling hex is almost similar to the ponzi scheme but i think what they were saying was true about hex.
I have been watching the platform and this platform is only offering the staking reward for people who can put more and more hex to be staked into the platforms.
Im not seeing actual use of hex platforms. I doubt this platform can survive in a long run.
I have been watching the platform and this platform is only offering the staking reward for people who can put more and more hex to be staked into the platforms.
Im not seeing actual use of hex platforms. I doubt this platform can survive in a long run.
It would be a ponzi scheme or a scam if the creator of HEX benefited in any way from people's investment. As far as I know, that's not the case as everything is governed through smart contracts on the ETH blockchain. Rewards are higher for those who have a large stake in HEX, since it "mimics" a certificate of deposit provided by mainstream banks. The team is going to need to ramp up their marketing/promotion efforts if they want more people to invest in the token. Otherwise, it'll remain under the radar of investors and traders alike for a long time.
Nonetheless, I believe that HEX is as legitimate as the code it's written on. I'd be surprised if someone else ports HEX into another chain like Binance Smart Chain or even TRON. Being the first of its kind, HEX provides a decentralized certificate of deposit anyone can enjoy. Whenever the token is undervalued or not, it's up to the investor to decide. The HEX community is quite active, so I'd expect the project to last for a very long time. Even if it fails in the long run, anyone can revive HEX's vision by using the publicly available source code. Certificates of deposit make an integral part of "De-Fi". We need more projects like this one in order to challenge mainstream banks. As long as HEX remains decentralized, there should be nothing to worry about. Just my thoughts
Correct me if I am wrong but wasn't there a discussion that part of the transaction fees goes to the developers or even Richard Heart himself? I am not entirely sure where saw it or read it. I have been following Richard Heart for quite a while, but stopped doing so as it became a bit boring over time. He bashed Ethereum for so long, then found out it is hard to set up reliable own code and publicly changed his mind about Ethereum out of a sudden.
I don't know the protocol very well, can't really judge whether it is worth an investment.
The coin that many named scam project but so far it has performed very well for investors, if I have to invest I'd go in with only what I can afford to risk, my advice is always treat any coins that isn't bitcoin as a second option, anything can happen, I've heard stories about someone turning 10$ to 10,000$ with safemoon, another shitcoin named by many
its just a new hot spicy token like bitconnect for me, they just told you to buy and stake, we dont even know how much in the circulation , as long u know when to quit, its good just for quadraple your money.
I like HEX project, too complicated to understand though but it brings ROI anyways, isn't that why majority of us are investing in crypto coins? hEX is recommendable if you are in for short term hold most especially in this bull market or you are a trader
Despite the fact that some people were calling hex is almost similar to the ponzi scheme but i think what they were saying was true about hex.
I have been watching the platform and this platform is only offering the staking reward for people who can put more and more hex to be staked into the platforms.
Im not seeing actual use of hex platforms. I doubt this platform can survive in a long run.
I have been watching the platform and this platform is only offering the staking reward for people who can put more and more hex to be staked into the platforms.
Im not seeing actual use of hex platforms. I doubt this platform can survive in a long run.
It would be a ponzi scheme or a scam if the creator of HEX benefited in any way from people's investment. As far as I know, that's not the case as everything is governed through smart contracts on the ETH blockchain. Rewards are higher for those who have a large stake in HEX, since it "mimics" a certificate of deposit provided by mainstream banks. The team is going to need to ramp up their marketing/promotion efforts if they want more people to invest in the token. Otherwise, it'll remain under the radar of investors and traders alike for a long time.
Nonetheless, I believe that HEX is as legitimate as the code it's written on. I'd be surprised if someone else ports HEX into another chain like Binance Smart Chain or even TRON. Being the first of its kind, HEX provides a decentralized certificate of deposit anyone can enjoy. Whenever the token is undervalued or not, it's up to the investor to decide. The HEX community is quite active, so I'd expect the project to last for a very long time. Even if it fails in the long run, anyone can revive HEX's vision by using the publicly available source code. Certificates of deposit make an integral part of "De-Fi". We need more projects like this one in order to challenge mainstream banks. As long as HEX remains decentralized, there should be nothing to worry about. Just my thoughts
Despite the fact that some people were calling hex is almost similar to the ponzi scheme but i think what they were saying was true about hex.
I have been watching the platform and this platform is only offering the staking reward for people who can put more and more hex to be staked into the platforms.
Im not seeing actual use of hex platforms. I doubt this platform can survive in a long run.
I have been watching the platform and this platform is only offering the staking reward for people who can put more and more hex to be staked into the platforms.
Im not seeing actual use of hex platforms. I doubt this platform can survive in a long run.
As long as it is for a short holding or for trading, I don't see any problem with HEX token. It is growing well in the market and has quite good market caps. It means many people are trading this coin. But for a long-term holding, it should need deeper analysis. Ceck first how good the potential of HEX project to develop in the future.
I am not interested in tokens that are not yet running on their own network 
such as HEX, last year FOMO HEX was very large so the price HEX was pumped very high, but such a huge FOMO has not proven that HEX is good for long-term investment,
I think there are coins that are better than HEX like XCASH, XCASH is a true hidden gem, runs on its own network, uses the new consensus DPOPS (Delegate Proof of Stake), Flex Privacy (can do public and private transactions), sidechain, smart contract, etc. (for details you can visit the official website here https://www.xcash.foundation/)
And from some of the points above, we can see how the future of HEX when compared to XCASH in the future.
such as HEX, last year FOMO HEX was very large so the price HEX was pumped very high, but such a huge FOMO has not proven that HEX is good for long-term investment,I think there are coins that are better than HEX like XCASH, XCASH is a true hidden gem, runs on its own network, uses the new consensus DPOPS (Delegate Proof of Stake), Flex Privacy (can do public and private transactions), sidechain, smart contract, etc. (for details you can visit the official website here https://www.xcash.foundation/)
And from some of the points above, we can see how the future of HEX when compared to XCASH in the future.
HEX is a new kind of token which serves as a decentralized "certificate of deposit". Investors can either be rewarded or penalized based on what they do with their HEX on the blockchain. Everything is governed by smart contracts on the Ethereum platform. So far, results have been great as I've nearly tripled my money by "hodling" HEX since its inception. The longer you "hodl", the bigger the rewards will be. This is something similar to staking, but at a whole new level. The project is still under the radar of investors and traders alike, because everyone is focused on Bitcoin and Ethereum right now. It could go all the way to the moon once they realize the true benefits of HEX relative to other cryptocurrencies on the market.
What do you think about this new ETH-based token? Will it survive in the long run? Or will it fail? What has been your experience using HEX so far? Your input will be greatly appreciated. Thank you.
What do you think about this new ETH-based token? Will it survive in the long run? Or will it fail? What has been your experience using HEX so far? Your input will be greatly appreciated. Thank you.
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