💵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!
How $HEX1 worksHow $HEX1 peg worksOvercollateralized vaultHex One Protocol BenefitsTLDR: $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.
VaultLiquidation ProcessImpermanent Loss ProtectionPumpamentalsTLDR: 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
