HEX

HEX is an Ethereum-based token designed to function similarly to a blockchain certificate of deposit (CD), offering rewards to participants who stake the token for a predetermined period . HEX's staking mechanism is intended to incentivize long-term holding, with longer staking periods resulting in higher rewards. The token has been a subject of controversy due to its aggressive marketing tactics and the founder's past legal issues .

HEX's value is intended to increase at a capped rate of 3.69% annually, aligning with the staking rewards system. The project differentiates itself by marketing itself as more energy-efficient than Bitcoin's Proof-of-Work (PoW), utilizing a “Proof-of-Wait” mechanism . Additionally, HEX has been associated with PulseChain, a claimed fork of Ethereum that is said to be compatible with HEX, allowing token migration to PulseChain . However, the legitimacy of PulseChain has been a topic of debate.

The U.S. Securities and Exchange Commission (SEC) has charged HEX's founder with defrauding investors and selling unregistered securities in connection with the HEX ecosystem . This has raised concerns about the project's legitimacy and regulatory compliance.