Hex1 Debt Title NFT

The Hex1 Debt Title NFT represents the initial $HEX deposit by the user. This NFT is used to borrow against.

TLDR: to improve Hex One Protocol future integration and functionality, we split the deposit and borrowing functionalities. Once users deposit $HEX, they receive a receipt, the Hex1 Debt Title (HDT) NFT. Users can borrow against the NFT that represents the collateral.

HDT, Magic Carpet Ride

HDT

The HDT NFT makes each position unique by date, price of Hex, and total value locked. The NFTs can be used to borrow $HEX1 against, or sold in the open market. This makes Hex One Protocol more flexible for future upgrades since users can still use deposits from the v1 into a future v2 with additional functionality.

Furthermore, participants can perhaps use the HDTs in other protocols that arise and make use of their collateral potential.

HDTs are akin to Hedron's Hex Stake Instances, HSIs.