HEX Time Token (HTT)

A 'HEX Time Token' (HTT) is an ERC20 token that can be redeemed 1:1 for HEX at the designated redemption day. The redemption day is visible in the token symbol. For example, 1 HEX time token with symbol HTT-3000 is redeemable for 1 HEX on HEX day 3000. Once redemption day arrives, HTT holders have 2 weeks to redeem their tokens for HEX without penalty. However, after 2 weeks, HTT holders cannot be guaranteed a 1:1 redemption for HEX. This is due to the behavior of the HEX protocol. Since HTTs are backed by stakes, and stakes that end after 14 days begin to incur late penalties, these penalties will impact HTT redemption. After 2 weeks, redemption is on a first come first serve basis. With that being said, it may be the case that all redemptions after 14 weeks can still exchange 1:1 for HEX if all underlying stakes are unlocked on time. This is due to the strong community end stake incentive built into the protocol (see Redemption Process for more info).