Bootstraping Hex One

Here you'll learn what it means to "Bootstrap Hex One" and each of the different phases.

Bootstrap Sacrifice

During the Bootstrap, participants can Sacrifice tokens (HEX, DAI, WPLS, PLSX). The funds will be distributed accordingly:

  • 75% of the Sacrifice USD value in $HEX1 tokens will return to the participants.

  • 25% of the Sacrifice USD value will be added to $HEX1/$DAI LP

Sacrifice participants will also receive $HEXIT tokens (during Sacrifice and Airdrop).

Bootstrap phases

The bootstrap is comprised of 6 major phases:

  1. Sacrifice phase: during this period the only functionality available is to sacrifice tokens through the Hex One Protocol Dapp. Borrowing $HEX1 tokens is disabled.

  2. Claim Sacrifice $HEXIT: Once the sacrifice ends, the users have 7 days to claim $HEXIT tokens in order to receive the $HEX1 Sacrifice Share. Borrowing $HEX1 tokens is disabled.

  3. Bootstrap Sacrifice $HEX1 tokens distribution to sacrificers.

  4. Airdrop phase: during the airdrop, the only functionality available is to claim "HEXIT", and to interact with the Bootstrap HEX1 Share, namely to "Re-Borrow" if the price of $HEX (collateral) goes up. Borrowing $HEX1 tokens is disabled.

  5. Borrow $HEX1 is enabled once the airdrop ends.

  6. Staking is enabled right after the airdrop ends.

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