HEX/EUR: Convert HEX (HEX) to Euro (EUR)

HEX is an ERC20 token that operates on the Ethereum network, aiming to serve as a digital store of value. Launched by Richard Heart in December 2019, HEX seeks to replicate the function of a Certificate of Deposit (CD) in the traditional financial markets, but on the blockchain. HEX is designed to interact with the burgeoning Decentralized Finance (DeFi) ecosystem within the Ethereum network. It allows users to stake their HEX coins, earning a share of the new HEX coin issuance. The HEX smart contract contains features that incentivize behaviors that could potentially lead to price appreciation and discourage actions that could harm the price.

HEX operates on the Ethereum network, which facilitates the sending and receiving of HEX tokens and interaction with the HEX smart contract. The consensus code and staking mechanism are contained within the HEX smart contract. Users can stake their HEX coins, and the smart contract rewards them based on the size and duration of their stake. The smart contract also penalizes users for ending their stake early. HEX aims to distribute its tokens to Bitcoin holders through a snapshot of the Bitcoin UTXO set, and also allows users to obtain HEX in exchange for ETH by interacting with the HEX smart contract.

HEX aims to serve as a digital alternative to traditional financial products like Certificates of Deposit (CDs). By staking their HEX coins, users can earn a share of the new HEX coin issuance. This mechanism could potentially encourage long-term holding and discourage behaviors that could negatively impact the price. HEX also seeks to leverage the growing DeFi ecosystem within the Ethereum network, providing users with a way to participate in this emerging field of decentralized finance. Furthermore, HEX allows users to mint their own rewards, eliminating the need for intermediaries.

HEX was designed and launched by Richard Heart on December 2, 2019. It was distributed to Bitcoin holders via a snapshot of the Bitcoin UTXO set that occurred on the same day. Bitcoin holders were able to claim HEX only during the first year of launch. During this period, HEX was also obtained in exchange for ETH through interaction with the HEX smart contract. At the end of the first year of launch, all HEX coins that were not claimed by Bitcoin holders were distributed to the rest of the HEX users who had active stakes. The maximum possible annual inflation of HEX is designed to be 3.69% after the first year of launch.