What is Hedron (HDRN)?

Hedron is a cryptocurrency built on top of HEX and was designed to add more utility to its inspirer. Hex is an Ethereum- and PulseChain-based token that revolves around staking. Investors can stake the token and earn a portion of its inflationary supply.

In 2022, a group of developers who are “passionate about HEX” launched Hedron. This new cryptocurrency was not connected to the HEX founder or original team, a point that is clearly specified on its website.

Through the Hedron platform, users can turn their staked HEX into HDRN, which has a variety of uses. To do this, investors must first create a HEX Stake Instance (HSI), a smart contract that tokenises a HEX stake. HSI can then be turned into HDRN, according to a ratio based on the quantity of the stake and the number of days you have been staking it.

For investors who do not want to go through this process, HDRN can be bought on some exchanges: these currently include Uniswap, BKEX, and PulseX. However, Hedron has tweeted that the cheapest way to aquire the cryptocurrency is by transforming staked HEX.

What is Hex (HEX)?

The idea for HEX stemmed from the poor return on investment offered by traditional banks. Founded by Richard Heart, the HEX team wanted to create a currency that would allow investors to earn high passive rewards.

HEX holders can stake the cryptocurrency by locking it up for any period between one and 5,555 days. The official website says investors will earn an average annual percentage yield (APY) of 38%.

The initial high inflation phase took place in HEX’s first year, where the majority of tokens were minted. Now, the inflation is locked into a 3.69% increase of HEX tokens every year. This is rewarded to the stakers in return for maintaining the HEX price.

But as HEX is an inflationary cryptocurrency, it will struggle to hold up a high price point. The abundance of a cryptocurrency tends to result in a lower price, as the supply is higher than the demand.

Is Hedron related to HEX?

No, Hedron is a completely separate project from HEX and has no relation to HEX's founder or development team. Hedron was built by people who are passionate about HEX and want to bring more to the table for fellow HEX enthusiasts.

What can you do with HSI?

HEX Staked Instances have three main functions: borrowing HDRN, minting HDRN and creating NFTs.

Borrowing gives users the ability to earn HDRN immediately, instead of waiting for the required number of days needed for minting. The website says that this method might also be “be highly tax-advantageous to the staker”.

For those looking for a longer-term investment, HSI can be permanently minted into Hedron. While this does require users to have been staking HEX for a certain amount of days, there are benefits to this. Investors are sometimes rewarded with a mint bonus: this ensures there is enough HDRN to cover the borrowing demand.

HEX Staked Instances can also be transformed into NFTs. These can then be sold on marketplaces, including OpenSea. Owners are able to keep their NFT, or melt it back down to its original HSI.