HEX is an inflationary token that is very controversial—either loved or hated, with little middle ground. HEX's founder, Richard Heart, is undoubtedly a controversial and polarizing figure—a narcissistic, assertive, overselling individual with a history of outrageous actions. Despite these traits, he is also very intelligent and shows care for others, aiming to educate people about core life and financial values. Notably, he has successfully warned against various scams.

I would argue, that if HEX was founded by any other major crypto-influencer, it would be considered a serious cryptocurrency. However, having Richard Heart as the founder makes HEX viewed as a scam in the eyes of many people. Does it matter? Yes and no.

Pros of HEX:
HEX is an ERC20 token that pioneered decentralization and immutability. It runs in a purely decentralized fashion on EVM chains (Ethereum and PulseChain), and its code cannot ever be changed. At the time of HEX's launch, both these concepts were very innovative and unusual, though at present, this may be seen as nothing out of the ordinary. In particular, immutability remains quite unique in the wide cryptocurrency realm, and it serves as one of the technical counterarguments against HEX possibly being a scam. Immutability means that the behavior of HEX cannot change; it cannot be stopped and will work the same way as long as the underlying EVM chains persist..
HEX claims to emulate a Certificate of Deposit (CD) issued by banks, but on the blockchain. This can be questioned, but what is clear is that HEX incentivizes long-term cryptocurrency holding by providing a greater yield for those who stake for a longer period of years, known as the "Longer Pays Better" bonus. HEX also penalizes those who decide to end their stake too early quite severely. There is also a small penalty for those who do not finish their stake at the originally agreed-upon time. Another commonality with CDs is that stakers who stake larger amounts receive a higher yield through the "Bigger Pays Better" bonus, mirroring what banks would do.
HEX is specifically designed to navigate around US securities laws. HEX staking, now officially termed "mining," operates in a manner where staked tokens are initially burned when the stake begins, and upon stake completion, new tokens are minted seemingly out of nowhere. In this process, there is "no work of others" involved when token yield is created; instead, all the effort to generate yield is undertaken by the HEX stake owner, who covers the expenses for the mining transaction. Despite these design elements, the US SEC allegedly holds a different perspective on the matter.
HEX has low liquidity compared to its market cap. This makes it easier for the HEX price to experience significant pumps, rendering it intriguing for speculative buyers. While this might seem contradictory for an asset claiming to be a Certificate Of Deposit, it may not hold as much significance in the long term, such as over a period of 10 years.
One appealing aspect of HEX is that its users can create multiple stakes on a single address. This feature is frequently utilized to establish a "staking leader," where the principal amount of HEX is divided into various smaller stakes. These smaller stakes are then locked for different periods of time (years), providing flexibility and options for its users.
Unlike many other staking protocols, HEX offers stakers the benefit of compound interest, providing an additional long-term incentive for those engaging in staking. Moreover, HEX stakers receive a fraction of penalties imposed on individuals who end their stakes either prematurely or later than agreed upon. This unique feature adds an extra layer of reward and engagement for those participating in the HEX staking.
The HEX inflation rate of 3.69% per year is relatively low. However, this inflation rate becomes significant when considering the total supply of HEX. All HEX inflation is exclusively received by HEX stakers. Due to only a small fraction of total HEX supply being staked, HEX stakers receive much higher actual yields. In general, if HEX was more widely adopted with a higher percentage of HEX being staked, the yield would likely be lower.
The internal mechanics of HEX implementing compound interest are referred to as shares - "T-Shares" representing trillions-of-shares or B-Shares for billions-of-shares. This unique feature of HEX staking is often misunderstood and undervalued. Technically, HEX operates in a way that the yield from a stake is determined by the number of shares multiplied by the payout per 1 share. This payout varies daily and depends mostly on penalties incurred.
To initiate a HEX stake, one needs to virtually purchase T-Shares, and their value in HEX can programmatically only increase. As a result, over time, it becomes more and more expensive (in HEX value) to acquire a T-Share. Nowadays, HEX stakers often compare their number of T-Shares rather than the actual amount of HEX staked, emphasizing the significance of this unique feature in the HEX staking mechanism.
HEX has strong community support, with its users often referring  to themselves as "Hexicans". This community is frequently named also as the Cult of Richard Heart, reflecting the close-knit and enthusiastic following around HEX cryptocurrency. Many Hexicans express gratitude to Richard, not only for the profits they've gained but also for his teachings on various aspects of life and crypto.
What I find particularly noteworthy and interesting is the initiative taken by Hexicans to develop additional tools that enhance the HEX ecosystem. These include alternative frontends, statistics pages, and even derivative financial products, such as HEX stakes presented as NFTs that can be traded or sold. The active involvement of the community in building on top of HEX showcases a vibrant and engaged user base contributing to the project's growth and development.


Cons of HEX:
Richard Heart himself. If you expect a cryptocurrency founder to be a serious person in a jacket, much like another lawyer, banker, or IT geek such as Vitalik Buterin or Charles Hoskinson, you won't find that with HEX. However, the narrative of HEX is that it runs on its own, and Richard Heart has less and less influence on it.
The centralized ownership of HEX, emphasized by the so-called "Origin Address" or OA, is arguably the most significant controversy surrounding HEX. According to the design in the HEX smart contract code, the "Origin Address" receives a copy of all HEX yield from every stake. While Richard Heart has never officially confirmed his ownership of the OA, it is assumed that he is the owner. Additionally, he received a large amount of HEX from the PulseChain and PulseX sacrifice, further suggesting his alleged ownership of the majority of HEX. This has been a subject of criticism, and Richard counters this argument by asserting that real-world economic systems and companies with such majority control tend to be more stable.
The implementation of compound interests through T-Shares has its value, which is paid when the HEX smart contract has to compute HEX yield. This process requires iterating over all days of the history of running stakes to determine the price of T-Share for that day. Due to the fact that the HEX code operates on the blockchain, the cost of evaluating this became significant on the Ethereum network. This became the main driver for Richard Heart to fork Ethereum and establish the new PulseChain network.
HEX has low liquidity compared to its market cap, which, while listed as a pro earlier, also exposes HEX to potential market manipulations. This raises doubts about the credibility of the narrative surrounding the possibility of extremely high gains, as HEX was previously marketed by Richard Heart as "designed to achieve a 10,000x".

I believe that when thinking about a cryptocurrency as old as HEX (four years as of December 2023), it is essential to focus on what HEX currently is and its potential for the future, rather than dwelling on past events or what Richard Heart was or said in the past. For instance, I find the argument of many HEX haters claiming that Richard is "SPAM king" because he operated an official spam business during a time when most people were unfamiliar with the term "SPAM" to be ridiculous. What holds significance is that Richard now endeavors to present himself as a benevolent actor while actively working to make HEX more decentralized. It is now up to the Hexicans themselves to demonstrate whether HEX can survive the next cryptocurrency market cycle.

Links:
Links to new decentralized IPFS front ends: https://go.hex.com/
Alternative front end https://hexcrypto.com/
Encapsulation of HEX stakes as NFT and alternative HEX front end: https://icosa.pro/
Best wiki about HEX - http://34.67.129.67/
HEX Origin Address - 0x9A6a414D6F3497c05E3b1De90520765fA1E07c03

HEX (HEX) is a cryptocurrency launched in 2019and operates on the Ethereum platform

HEX is an inflationary token that is very controversial—either loved or hated, with little middle ground. HEX's founder, Richard Heart, is undoubtedly a controversial and polarizing figure—a narcissistic, assertive, overselling individual with a history of outrageous actions. Despite these traits, he is also very intelligent and shows care for others, aiming to educate people about core life and financial values. Notably, he has successfully warned against various scams.

I would argue, that if HEX was founded by any other major crypto-influencer, it would be considered a serious cryptocurrency. However, having Richard Heart as the founder makes HEX viewed as a scam in the eyes of many people. Does it matter? Yes and no.

Pros of HEX:
- HEX is an ERC20 token that pioneered decentralization and immutability. It runs in a purely decentralized fashion on EVM chains (Ethereum and PulseChain), and its code cannot ever be changed. At the time of HEX's launch, both these concepts were very innovative and unusual, though at present, this may be seen as nothing out of the ordinary. In particular, immutability remains quite unique in the wide cryptocurrency realm, and it serves as one of the technical counterarguments against HEX possibly being a scam. Immutability means that the behavior of HEX cannot change; it cannot be stopped and will work the same way as long as the underlying EVM chains persist..
- HEX claims to emulate a Certificate of Deposit (CD) issued by banks, but on the blockchain. This can be questioned, but what is clear is that HEX incentivizes long-term cryptocurrency holding by providing a greater yield for those who stake for a longer period of years, known as the "Longer Pays Better" bonus. HEX also penalizes those who decide to end their stake too early quite severely. There is also a small penalty for those who do not finish their stake at the originally agreed-upon time. Another commonality with CDs is that stakers who stake larger amounts receive a higher yield through the "Bigger Pays Better" bonus, mirroring what banks would do.
- HEX is specifically designed to navigate around US securities laws. HEX staking, now officially termed "mining," operates in a manner where staked tokens are initially burned when the stake begins, and upon stake completion, new tokens are minted seemingly out of nowhere. In this process, there is "no work of others" involved when token yield is created; instead, all the effort to generate yield is undertaken by the HEX stake owner, who covers the expenses for the mining transaction. Despite these design elements, the US SEC allegedly holds a different perspective on the matter.
- HEX has low liquidity compared to its market cap. This makes it easier for the HEX price to experience significant pumps, rendering it intriguing for speculative buyers. While this might seem contradictory for an asset claiming to be a Certificate Of Deposit, it may not hold as much significance in the long term, such as over a period of 10 years.
- One appealing aspect of HEX is that its users can create multiple stakes on a single address. This feature is frequently utilized to establish a "staking leader," where the principal amount of HEX is divided into various smaller stakes. These smaller stakes are then locked for different periods of time (years), providing flexibility and options for its users.
- Unlike many other staking protocols, HEX offers stakers the benefit of compound interest, providing an additional long-term incentive for those engaging in staking. Moreover, HEX stakers receive a fraction of penalties imposed on individuals who end their stakes either prematurely or later than agreed upon. This unique feature adds an extra layer of reward and engagement for those participating in the HEX staking.
- The HEX inflation rate of 3.69% per year is relatively low. However, this inflation rate becomes significant when considering the total supply of HEX. All HEX inflation is exclusively received by HEX stakers. Due to only a small fraction of total HEX supply being staked, HEX stakers receive much higher actual yields. In general, if HEX was more widely adopted with a higher percentage of HEX being staked, the yield would likely be lower.
- The internal mechanics of HEX implementing compound interest are referred to as shares - "T-Shares" representing trillions-of-shares or B-Shares for billions-of-shares. This unique feature of HEX staking is often misunderstood and undervalued. Technically, HEX operates in a way that the yield from a stake is determined by the number of shares multiplied by the payout per 1 share. This payout varies daily and depends mostly on penalties incurred.
To initiate a HEX stake, one needs to virtually purchase T-Shares, and their value in HEX can programmatically only increase. As a result, over time, it becomes more and more expensive (in HEX value) to acquire a T-Share. Nowadays, HEX stakers often compare their number of T-Shares rather than the actual amount of HEX staked, emphasizing the significance of this unique feature in the HEX staking mechanism.
- HEX has strong community support, with its users often referring  to themselves as "Hexicans". This community is frequently named also as the Cult of Richard Heart, reflecting the close-knit and enthusiastic following around HEX cryptocurrency. Many Hexicans express gratitude to Richard, not only for the profits they've gained but also for his teachings on various aspects of life and crypto.
What I find particularly noteworthy and interesting is the initiative taken by Hexicans to develop additional tools that enhance the HEX ecosystem. These include alternative frontends, statistics pages, and even derivative financial products, such as HEX stakes presented as NFTs that can be traded or sold. The active involvement of the community in building on top of HEX showcases a vibrant and engaged user base contributing to the project's growth and development.


Cons of HEX:
- Richard Heart himself. If you expect a cryptocurrency founder to be a serious person in a jacket, much like another lawyer, banker, or IT geek such as Vitalik Buterin or Charles Hoskinson, you won't find that with HEX. However, the narrative of HEX is that it runs on its own, and Richard Heart has less and less influence on it.
- The centralized ownership of HEX, emphasized by the so-called "Origin Address" or OA, is arguably the most significant controversy surrounding HEX. According to the design in the HEX smart contract code, the "Origin Address" receives a copy of all HEX yield from every stake. While Richard Heart has never officially confirmed his ownership of the OA, it is assumed that he is the owner. Additionally, he received a large amount of HEX from the PulseChain and PulseX sacrifice, further suggesting his alleged ownership of the majority of HEX. This has been a subject of criticism, and Richard counters this argument by asserting that real-world economic systems and companies with such majority control tend to be more stable.
- The implementation of compound interests through T-Shares has its value, which is paid when the HEX smart contract has to compute HEX yield. This process requires iterating over all days of the history of running stakes to determine the price of T-Share for that day. Due to the fact that the HEX code operates on the blockchain, the cost of evaluating this became significant on the Ethereum network. This became the main driver for Richard Heart to fork Ethereum and establish the new PulseChain network.
- HEX has low liquidity compared to its market cap, which, while listed as a pro earlier, also exposes HEX to potential market manipulations. This raises doubts about the credibility of the narrative surrounding the possibility of extremely high gains, as HEX was previously marketed by Richard Heart as "designed to achieve a 10,000x".

I believe that when thinking about a cryptocurrency as old as HEX (four years as of December 2023), it is essential to focus on what HEX currently is and its potential for the future, rather than dwelling on past events or what Richard Heart was or said in the past. For instance, I find the argument of many HEX haters claiming that Richard is "SPAM king" because he operated an official spam business during a time when most people were unfamiliar with the term "SPAM" to be ridiculous. What holds significance is that Richard now endeavors to present himself as a benevolent actor while actively working to make HEX more decentralized. It is now up to the Hexicans themselves to demonstrate whether HEX can survive the next cryptocurrency market cycle.

Links:
- Links to new decentralized IPFS front ends: https://go.hex.com/
- Alternative front end [https://hexcrypto.com/](https://hexcrypto.com/)
- Encapsulation of HEX stakes as NFT and alternative HEX front end: https://icosa.pro/
- Best wiki about HEX - http://34.67.129.67/
- HEX Origin Address - 0x9A6a414D6F3497c05E3b1De90520765fA1E07c03

0xCordis

There's a list of good reasons not to touch HEX with a barge pole in my opinion.

Firstly the entire system is run by a criminal. Richard Heart, an absolute clown (just watch any of his videos online and you’’ll see what I mean instantly), he has been scamming people for decades and is still at it by the looks of things. In the 2000’s, Richard Heart became known as the ‘spam king’ as he would use various extortion methods to get money from websites. Also when interviewed about HEX, Richard Heart refused to state who owned the Ethereum master wallet for the projects. All a bit suspect if you ask me.

Secondly, HEX has no real use case other than pure speculation really, and 38% promised returns are a massive red flag. As the famous saying goes.. if it sounds too good to be true, it probably is..

HEX’s staking mechanism reads like a Ponzi scheme and you can clearly see from its price chart below the house of cards has come well and truly tumbling down on this ponzi. It is now over 99% down from its ATH. I currently have more faith in Hamas and the Israeli government sitting down together for Christmas dinner than HEX returning to anywhere near its ATHs.

There's a list of good reasons not to touch HEX with a barge pole in my opinion.  

Firstly the entire system is run by a criminal. Richard Heart, an absolute clown (just watch any of his videos online and you’’ll see what I mean instantly), he has been scamming people for decades and is still at it by the looks of things. In the 2000’s, Richard Heart became known as the ‘spam king’ as he would use various extortion methods to get money from websites. Also when interviewed about HEX, Richard Heart refused to state who owned the Ethereum master wallet for the projects. All a bit suspect if you ask me.

Secondly, HEX has no real use case other than pure speculation really, and 38% promised returns are a massive red flag. As the famous saying goes.. if it sounds too good to be true, it probably is..

HEX’s staking mechanism reads like a Ponzi scheme and you can clearly see from its price chart below the house of cards has come well and truly tumbling down on this ponzi. It is now over 99% down from its ATH. I currently have more faith in Hamas and the Israeli government sitting down together for Christmas dinner than HEX returning to anywhere near its ATHs.

HEX HEX