What is Hex and is it the ultimate cryptocurrency product that can protect you from yourself?
Updated: 3 days ago
In crypto far too many people enter the space with delusions of getting rich quickly, so much so that a popular degenerate meme phrase is 'Wen Lambo?' This attitude and the casual manner in which 'newbies' indiscriminately throw their money at baseless influencer shilled projects or think that they can easily multiply their stack through extremely risky leverage trading is quite sad. Most will simply get 'rekt' (another crypto slang for losing everything). Investing should be a long term commitment, it should be about time in the market and not timing the market. In this article I will discuss a pre-viral cryptocurrency product called Hex that in many respects solves a lot of these problems and why it could be the ultimate cryptocurrency product that can actually protect you from yourself.
The first CD on the blockchain
Hex is the first high yield savings account built on the Ethereum blockchain. Designed by Richard Heart, Hex was launched as a completed product which functions as a certificate of deposit serving up trustless yield derived from inflation. Traditional CD's offered by financial institutions are the second largest investment vehicle used and trusted by millions worldwide. Traditional CDs only pay an average APY (annual percentage yield) of less than 2%, while Hex pays an average APY of 38%.
When creating Hex Richard Heart improved the concept of the traditional CD by providing a significantly higher average interest rate and completely bypassing the middleman resulting in a truly decentralized cryptocurrency. By eliminating the banks and middleman the bulk amount of yield earned would normally be absorbed by the system instead it goes directly to you. With Hex you are your own bank.
The Hex product has been running with 100% uptime for over two years now. The code that runs the Hex protocol cannot be changed or altered in any way making it truly censorship resistant and decentralized on the blockchain. There are no admin keys avail