### What is HEX?

HEX is a blockchain-based certificate of deposit (CD) system. It rewards users for holding their tokens over extended periods, using a model similar to time deposits in traditional banking.

### How does HEX work?

HEX allows users to stake their tokens for specified periods, earning rewards based on the duration and size of the stake. It operates on the Ethereum blockchain and utilises a "Proof-of-Wait" consensus mechanism that is less energy-intensive. Users mint rewards at the end of their commitment, and the system has a capped annual inflation rate of 3.69%.

### What are the potential use cases for HEX?

HEX can be used for staking to generate interest, making online payments, engaging in participatory funding and loyalty schemes, and facilitating transactions within blockchain games and decentralised applications. It also supports international payments by providing cross-border transactions with low fees and fast processing times.

### What is the history of HEX?

HEX was launched in December 2019 by Richard Heart. It began with an airdrop to Bitcoin holders and has since been featured in discussions for its unique approach and controversies, including regulatory issues with the U.S. Securities and Exchange Commission (SEC). Despite criticisms and regulatory challenges, HEX has achieved significant market attention and price appreciation over the years.

Deposits and withdrawals are not currently available for this coin.

HEX (HEX)

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