> For the complete documentation index, see [llms.txt](https://learn.hex1.club/hex-one-protocol/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://learn.hex1.club/hex-one-protocol/hdt/hdt.md).

# Hex1 Debt Title NFT

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**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.
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<figure><img src="/files/SMs7KdsP5oYSDV0XxEPy" alt=""><figcaption><p>HDT, Magic Carpet Ride</p></figcaption></figure>

## HDT <a href="#what-is-a-vault" id="what-is-a-vault"></a>

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.&#x20;

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