V1 [current]

This version corresponds to the current implementation of Hex One protocol.

Hex One Protocol V1

V1 Basics

The current version accepts only one token $HEX.

V1 Functionality

Deposit $HEX that is converted into T-Shares. Borrow against your T-Shares. Claim the stake by repaying the total borrowed $HEX1.

If the price of the collateral drops and the peg goes < $1, vs other stablecoins there is an incentive to buy $HEX1 since each token redeems $1 worth of Hex. Liquidations open the door to big discounts.

If the price of the collateral goes up, depositors may claim more $HEX1. Additionally, if the peg goes > $1, it probably means depositors need to acquire $HEX1 to redeem the underlying collateral (endStake).