Hi, can someone explain to me what exactly happens to

Question

Hi, can someone explain to me what exactly happens to

hex when it's staked? Where do the coins go and is it a real burn (sending to an address that can only receive) or is it keeping hex in a place that we can redeem it with end-stake. We all know it's called burning, bit if it is, what is the address that hex goes to since we cannot see it in the null 0x0 address? Thank you in advance.

#cryptocurrency #english #hex-crypto

0

15.01.2022

21 ответов

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Platypus Delta Автор вопроса

Lou | I Never DM Anyone!
When you stake HEX it's sent to a burn address ht...

Then why I can't see any hex there?

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15.01.2022

Lou | I Never DM Anyone!

Platypus Delta
Then why I can't see any hex there?

Whether you can see it there or not makes no difference. If you look at a stake transaction on etherscan.io, thats where staked HEX goes. The HEX contract has also been audited by two different independent security firms. http://hex.wiki/security

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15.01.2022

Platypus Delta Автор вопроса

Lou | I Never DM Anyone!
Whether you can see it there or not makes no diffe...

OK, burning means that the coin is sent to an address that can only receive. If the hex is sent to 0x0 as we see in the transaction, then why we can't see it there among the other tokens?

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15.01.2022

Pulse DCA Club Hex_is_the_way

Platypus Delta
OK, burning means that the coin is sent to an addr...

you can paste your public address in stakehex.today or hex.vision or staker app to see your stakes

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15.01.2022

Lou | I Never DM Anyone!

Platypus Delta
OK, burning means that the coin is sent to an addr...

Probably because the exact address the contract sends the staked HEX to is an invalid address. What matters is when you stake HEX the coins are burned. https://etherscan.io/address/0x000000000000000000000000000000000000000

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15.01.2022

Platypus Delta Автор вопроса

You can't send anything to an invalid address. Or I don't know what invalid address is...

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15.01.2022

Lou | I Never DM Anyone!

Platypus Delta
You can't send anything to an invalid address. Or...

More like you don't know what you're talking about. All you need to do is look at at a start stake transaction on the HEX contract address. It shows you exactly what address the staked HEX is sent and burned at. https://etherscan.io/token/0x2b591e99afe9f32eaa6214f7b7629768c40eeb39

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15.01.2022

Combot

Lou | I Never DM Anyone!
More like you don't know what you're talking about...

HEX contract address: 0x2b591e99afe9f32eaa6214f7b7629768c40eeb39 8 decimals.

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15.01.2022

Platypus Delta Автор вопроса

Lou | I Never DM Anyone!
More like you don't know what you're talking about...

So, what is the burning address, cuz I am so dump to see it myself? If you say it's the null 0x0, then explain why we cannot see any hex there. If it is not, show me the burning address please

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15.01.2022

Lou | I Never DM Anyone!

Platypus Delta
So, what is the burning address, cuz I am so dump ...

I already answered your question.

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15.01.2022

Platypus Delta Автор вопроса

Lou | I Never DM Anyone!
I already answered your question.

Sure. Thanks. I will wait for a simpler answer from someone else since you are not helping me at all

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15.01.2022

Lou | I Never DM Anyone!

Platypus Delta
Sure. Thanks. I will wait for a simpler answer fro...

That's probably because HEX is an IQ test. Go invest in dog coins instead.

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15.01.2022

Platypus Delta Автор вопроса

Lou | I Never DM Anyone!
That's probably because HEX is an IQ test. Go inve...

Higher IQ requires good explanations also 😊 I see, bro. I see

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15.01.2022

Axel

Lou | I Never DM Anyone!
That's probably because HEX is an IQ test. Go inve...

Dude, be patient. If you don't want to help at least let someone else don't be a bully

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15.01.2022

Nenad [I won't dm you]

Platypus Delta
OK, burning means that the coin is sent to an addr...

No, you are wrong. Sending to the 0x0...0 address is not really burning of tokens. It is just a transfer to an address that cannot have keys. It is colloquialy called burning, but those coins are not burnt. Only the contract can truly burn its tokens.

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15.01.2022

Pulse DCA Club Hex_is_the_way

Platypus Delta
So, what is the burning address, cuz I am so dump ...

common "burning" in crypto is just send to an address no one can access. Not really burning. If you design the contract better you can delete coins and mint coins

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15.01.2022

Platypus Delta Автор вопроса

Pulse DCA Club Hex_is_the_way
common "burning" in crypto is just send to an addr...

Thank you. So, what is the exact case with hex staking since we can see that hex is sent to the null address in the transaction info, however, we cannot see any hex there?

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15.01.2022

Nenad [I won't dm you]

Platypus Delta
Thank you. So, what is the exact case with hex sta...

It is not sent. I already answered you.

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15.01.2022

Pulse DCA Club Hex_is_the_way

Platypus Delta
Thank you. So, what is the exact case with hex sta...

holding hex liquid is like a savings account, staking short term is passive income generation, and staking longer is like a retirement

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15.01.2022

Pulse DCA Club Hex_is_the_way

Platypus Delta
Thank you. So, what is the exact case with hex sta...

also, it is bullish for the hex price that the coins are gone and no one can just change their mind and sell them later. Hex is not like proof of stake where your can pull out and sell coins whenever

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15.01.2022

Lou | I Never DM Anyone! · Accepted Answer

Lou | I Never DM Anyone!

When you stake HEX it's sent to a burn address https://etherscan.io/address/0x0000000000000000000000000000000000000000#tokentxns, which by definition can't be owned by anyone. The HEX contract issues you T-Shares, which accrue your interest for the duration of your stake. When you end the stake your HEX principal plus accrued interest is minted back to your wallet from the 3.69% annual inflation of the total HEX supply.

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15.01.2022

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