HEXMarket.com

What is HEXMarket.com?

HEXMarket.com is the worlds first NFT marketplace that exclusively focuses on serving the encapsulated HEX stake market (built on Pulsechain). You can buy/sell encapsulated HEX Stakes (NFTs) on our marketplace.

What is a Non-Fungible Token (NFT)?

Think of it as a unique item that derives some sort of value. Most people think of NFT's in terms of expensive JPEG images (like CryptoPunks), however most people don't realize that there can be value inside of an NFT (like a HEX stake).

Keep reading if you're curious why an NFT for a HEX Stake even matters...

Why does tokenizing your HEX Stake as an NFT even matter?

You’ve locked up a HEX for 5555 days, but you’d like to sell earlier for whatever reason (ie you need cash, unexpected life event, etc). It would be nice to have the option to cash out without emergency unstaking.

Conversely, maybe you're a true Hexican that wants to buy existing stakes to add to your portfolio. You may end up getting a better deal than if you were to create a stake natively.

Who are the Founders & Developers?

Mike (@DeFiMike on Telegram) is the founder of HEXMarket.com.

Which blockchains will you be launching on?

We are currently on Ethereum until Pulsechain launches.

How do I even turn my HEX Stake in to an NFT?

In order to turn your HEX Stake in to an NFT, you'll need to create a stake using Hedron.pro. DO NOT create a native stake if you wish to turn your HEX stake in to an NFT.

Creating a HEX stake through Hedron still uses the smart contracts built by Richard Heart. Hedron simply adds a layer on top to ensure you can turn your HEX stake in to an NFT.

We believe that Hedron.pro will be the standard for creating encapsulated HEX stakes.

To learn more about Hedron and how to encapsulate a stake:

Telegram: https://t.me/HedronCrypto

Website: https://hedron.pro/#/

*Please note that Hedron.pro is a third-party and is not related to HEXMarket in any way.

How much does it cost to use HEXMarket?

We are free to list! We charge a 2.22% fee when a HEX stake sells.

2.22% Fee Breakdown:

0.5555% - Buy & Burn of HDRN

0.5555% - Buy & Distribute for HDRN Stakers

0.5555% - Token Holders wallet (see "Do you plan to have a Sacrifice Phase?" to learn more)

0.5555% - HEXMarket fee

*The Hedron flow address of 0.15% will be honored, which will be deducted from the fee's above.

How does HDRN Staking work?

Stake your HDRN to earn rewards from encapsulated HEX stakes being sold on HEXMarket. Visit Hedron.pro to learn about HDRN and how to purchase.

HDRN Stakers can create multiple stakes, however each stake is for a period of 369 days, which gives them the right to receive rewards. After the 369 day stake ends, you will no longer receive rewards and must restake for another year to continue receiving rewards.

“Rewards” will be in HDRN via a "Buy & Distribute mechanism." At a specific point in time (tbd), the Rewards address will purchase HDRN at market value and distribute the HDRN to the HDRN Stakers on HEXMarket.

Distribution of rewards will be relative to a) total HDRN staked and b) if those stakes are ACTIVE (less than 369 days served). For example, if 10 HDRN are staked in total, and you have a stake with 1 HDRN, you will receive 1/10 of rewards for that period of time (assuming all other stakes are still ACTIVE). If the next day you stake another 1 HDRN AND someones stake is on day 370 (no longer ACTIVE), you will receive 2/9 of rewards for that timeframe (ie you've staked 2 HDRN, and total of 9 HDRN with an ACTIVE stake status).

There will be a “Reinvest” function that allows you to take your unclaimed rewards and immediately reinvest in that specific stake (without time resetting or starting a new stake). This is for those that want to compound without creating another 1 year stake.

“End Stake” can only happen when stake matures at end of 369 days. On day 370 and onwards, no more rewards can be received from that stake. You can call the "Unstake" function at any time.

You can "Emergency End Stake" at any time, however you will lose 50% of your entire stake, which will be redistributed to the existing HDRN Stakers on HEXMarket based on a) total amount staked and b) active stakes.

HEXMarket may launch for another token at some point that will act as an additional way to earn from the marketplace by staking, on top of staking HDRN. See "Do you plan to have a Sacrifice Phase" to learn more.

<easter egg hint> - You may want to stake some HDRN before we announce anything about our sacrifice or NFT drop. Early HDRN stakers may (or may not) get a reward for being an early believer in us.

What is "HEXArt"

HEXArt is a new feature that allows artists to attach a HEX Stake (HSI), or other ERC/PRC-20's and NFTs to their artwork. When an NFT artist mints their new NFT art, they'll have the option to choose an "Artist Fee" if they decide to sell it at any point in time in the future.

Why would someone pay a premium for HEXArt? Not only do they value the art, but they are attracted to art that appreciates in value (in HEX terms). They end up with two assets (ie Art + HEX Stake).

Whoever holds the NFT Art (HEXArt) can choose several features:

1. Add/Remove collateral at any time

2. "Lock" your collateral inside of the art to prevent from removing it. Note that you can add additional collateral (HEX Stakes, etc) at any time regardless of the HEXArt has a lock on it.

3. Sell/Transfer your HEXArt at any time.

Whenever art is created, community members will be able to rate the rate to despite who has the best artwork.

What are the fee's to mint HEXArt?

It's absolutely free to mint HEXArt. We do charge 5% for any profits that an artist makes from the "Artist Fee." For example, if you mint HEXArt and receive 10 ETH commission from a future sale, HEXMarket takes 0.5 ETH (5% of 10 ETH).

From the 5%, we will split this 50/50 between a) HEXMarket and b) HEXMarket Token Holders. The Token Holders wallet is a placeholder until we hold a sacrifice OR NFT drop.

If you own an NFT that has a time lock that's active, and you wish to withdraw assets, there's a fee of 0.369 ETH per transaction. We encourage you NOT to early withdraw to avoid this fee. The 0.369 ETH fee will be split between HEXMarket and HEXMarket Token Holders.

What if someone transfers or sells on another NFT Marketplace (Opensea, etc)?

If you opt to transfer/sell on a third-party marketplace (which bypasses the hexmarket fee), we charge 0.0123 ETH per asset withdraw from the HEXArt. In order to avoid this fee, you must sell on HEXMarket from the address used to mint.

Do you plan to have a Sacrifice Phase or some sort of "HEXMarket" NFT as an additional incentive?

Yes, however we do not have any sort of ETA at this time.

Both 0.5555% fee on HEXMarket AND 2.5% fees from the Artist Fee (HEXArt) will be allocated towards the "Token Holders." We may have a sacrifice phase in the future for those that wish to receive the funds from the Token Holders wallet, and to earn additional rewards as the Token Holders wallet accumulates fee's generated.

Post-sacrifice, we would distribute all of the accumulated fees in the Token Holders wallet. to the holders that had sacrificed, meanwhile those holders earning additional rewards from the Token Holders wallet, pro-rated based on their total share (no more HEXMarket tokens would ever be created).

All-in-all, stakers of the HEXMarket Token would have the opportunity to earn additional rewards by being part of a smaller pool of stakers relative to HDRN stakers.

... And of course if we decide to NOT have a sacrifice phase, we would simply distribute the funds collected in the Token Holders wallet to existing HDRN Stakers via the "Buy & Distribute" mechanism as an additional incentive for HDRN Stakers. The funds accumulated in the Token Holders wallet will never go directly to the HEXMarket team.

We will update the community if we plan a sacrifice in the future.

What is the current roadmap?

Phase 1 - Launch marketplace (DONE)

Phase 2 - Launch HDRN Staking + Telegram/Twitter Bots (DONE)

Phase 3 - Launch "HEXArt" feature

Phase 4 - Launch "Auctions" feature

Phase 5 - Sacrifice!

*Targeting to complete all phases before the end of 2022.

What's the "Renounce Ownership" function?

We've opted to have admin keys to make it easy to improve/enhance the smart contracts without necessarily redeploying the contracts. We understand that this may not be favorable for mass adoption (for obvious reasons).

We've included a "Renounce Ownership" function that can be called at any time. Once called, the contracts will be truly decentralized.

We plan to call this function prior to holding any sort of sacrifice or NFT drop.

Am I expected to profit or earn anything from HEXMarket.com or anything related to HEXMarket?

No, you cannot expect to profit or to earn anything from HEXMarket.com. No expectations. Anything on our platform, any staking or future sacrifice, will not get you anything of value. Staking doesn't guarantee anything. IF YOU CHOOSE TO do anything with us (interact with our smart contracts, sacrifice to our wallet address, upload buy/sell NFT's on our platform, etc), YOU MUST HAVE NO EXPECTATION OF PROFIT DERIVED FROM THE WORK OF OTHERS.

When are you planning to launch?

To be determined... Please join our Telegram for the latest news on when we plan to launch.

How can we contact you?

Telegram: https://t.me/hexmarketplace
Twitter: https://twitter.com/HEXMarketplace
Youtube: https://www.youtube.com/channel/UCcEAbKV0Ul_G6qlrMAZXTgw