Staking HEX calls a function of the smart contract on the Ethereum blockchain. HEX is then committed for the chosen time. The unit of time measures in days like a traditional Certificate of Deposit (CD). Think of a traditional savings account.
For instance, a user may choose to stake 10,000 HEX for ten days. During that time, he will not have access to his HEX. The HEX tokens are blocked with the smart contract. When the ten days holding period elapse, users may unstake and collect their 10,000 HEX plus interest. This is called staking bonus.
Payouts are drawn from a pool based on the user’s shares of the total shares in that pool. The term ‘Shares’ is used, because staking bonuses are calculated as a scaling of the user’s HEX into shares. That means, when a user stakes 1000 HEX and becomes eligible for the 40 percent bonuses, then their 1000 HEX becomes 1400 shares.
The user’s payout is based on their shares divided by the total number of HEX. This is crucial because it means that accruing bonuses is how to get the best payouts. It may be even more economically wise than beginning with more HEX. It is more convenient to get 40 percent bonus than to buy 40 percent more Bitcoin.
An estimated 12 million Bitcoin worth of HEX claims will be given to the stakers on day 353. It also gets multiplied by the Viral and Critical Mass adoption bonus multipliers. They will increase it up to 3 times. This is a huge incentive for stakers. More stakers means less circulating supply.
Longer stake commits pays more. Up to 3 times on a 3641 day stake. The price per share only increases.
Early claimers get bonuses, late claimers get penalties. Speed bonuses fall from 20 percent at the beginning of the launch phase to zero percent during the fifty weeks. (Day 351, the final day of claiming).
Unclaimed coins are paid to stakers at 2 percent for 50 days. Each week you do claim your coins later, you will be penalized and someone else gets to have them.
Critical Mass and Virality bonuses increase payouts to stakers. They can make more HEX based on the number of people that claim.
For more details go to the official HEX website
The price of Bitcoin went up by 26x from $750 to $20,000 in 378 days. Ethereum also went up from $6 to $1,400 in 403 days.
Most of the wealth in the world is made by those that get in first!
HEX staking is the future of finance - Stake HEX early, long and large, and watch it multiply!
Does your wallet support human readable addresses? Test it by tipping some HEX or ETH to:
hex-staking.eth instead of the long address: 0xC8CB91C3d41C80237c7901b815107d87080943bD
Thank you, regardless of size, it would be much appreciated.
Article: What is HEX BigPayDay?
Article: Why You Should Stake HEX
Article: How Do You Make Money With HEX
Article: What Are Smart Contracts?
Article: What Can HEX Do Better Than Bitcoin?
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