HEX is a certificate of Deposit on the blockchain, meaning its main purpose is to be a store of value replacing the traditional financial products with the ones based on crypto. The other purpose is to leverage DeFi projects on Ethereum Network that is used as a transactions layer (for sending and receiving tokens and also for interacting with HEX smart contracts). 

HEX is an ERC-20 token. It is distributed to the Bitcoin holders through the snapshot of Bitcoin UTXO at a rate of 1 BTC = 10 000 HEX. The users were able to obtain the tokens a year after the network launch, which happened in December 2019. The other way to get the tokens is to exchange them for Ethereum through the HEX smart contract.

By staking HEX tokens users get a chance to get the share of the coins from the new issuance or inflation. It is also designed to push the operations encouraging price appreciation and disincentivize the behaviors causing harm to the price. HEX smart contract fines the users if they end their stake early or rewards them when they stake bigger amounts of HEX for a longer period. The average interest for staking HEX tokens is 40% a year. 

Interestingly, the HEX share price increased more than 10000 times since the launch date. The token also has low inflation — not more than 3,69% after the first year of launch. It is supported by the MetaMask wallet and listed on 202 exchanges. 

According to the official website, HEX is the first crypto in the world with a chart of its future locked supply that shows when the big stakes are set for expiration, so the users can plan the activity accordingly.