💵What is Hex One?
A yield-bearing stablecoin backed by HEX T-shares. 1 $HEX1 = $1 worth of HEX.
Last updated
A yield-bearing stablecoin backed by HEX T-shares. 1 $HEX1 = $1 worth of HEX.
Last updated
TLDR: Hex One protocol was built to provide a system of stability to the HEX ecosystem. $HEX1 is a stablecoin backed by T-SHARES and is collateralized above 100%. $HEX1 is the first stablecoin with embedded yield, provided by Hex T-SHARES. It's also a completely finished product, with no admin keys, following the great example set by the god genius 🧠 Richard Heart 👑
1 $HEX1 = $1 worth of Hex
Let's dive into a quick overview of the protocol.
Get liquidity without selling your $HEX
Earn yield just by holding a stablecoin
Automatic collateral protection: tshares generate more HEX while in the collateral vault, thus buffing the peg with an additional layer of protection
Collateral = T-Shares
Re-Borrow against your open positions
Embedded bootstrap for liquidity boost.
No admin keys that can compromise the protocol
Check how you can mint $HEX1 in a few fast steps.
TLDR: Create a stake through Hex One protocol which goes into the Hex One vault. In turn, the vault mints $HEX1 in the same dollar value as the deposit. Participants can use $HEX1 to provide liquidity and farm $HEXIT, Hex One's Protocol Incentive Token, and HEX which is generated through a 1% borrow fee.
Check which topic you want to learn bout and let's dive deep!
TLDR: $HEX1 represents a future HEX payment (a T-SHARE). Therefore, the stablecoin has embedded yield. The peg is protected by the collateral, the T-SHARES, that cannot be retrieved before maturity.
Let's discuss how the vault, collateral and pupamentals all work perfectly together to create the most perfect stablecoin built to date.
TLDR: The vault deposits (collateral) are protected against Impermanent Loss (IL), because stakes cannot be emergency stopped due to contract ownership. Therefore only after maturity - 15 years, or 5,555 days - can $HEX1 be burned back for HEX. Adding to that, strong pupamentals like buy-back and burn, farming, liquidity bootstrapping, and an airdrop are implemented to make the $HEX1 peg protected and stabilized
