The 2-year-old cryptocurrency project gives 38% staking rewards. Is the project legitimate or a scam?
The HEX token is based on the Ethereum blockchain. Their website says they are the first blockchain certificate of deposit. Those who stake HEX tokens are given an average of 38% returns. The figure is lucrative because most US banks do not provide more than 2% annual interest.
Who is the founder?
The HEX was founded by Richard Schueler, who adopted the stage name Richard Heart. One of the steps to fundamentally analyze any project in Web3 is to check out the history of its founder.
Richard’s mail archive shows that he used to run a course on How to Spam people. In fact, he was charged with invoking Washington State’s anti-spam law.
His Twitter bio reads that he owns the most expensive Rolex, the world’s fastest Ferrari, and some more boasting about his lifestyle. He has flexed his wealth on multiple occasions on social media. When he was asked why he flexes his wealth, he replied that it was for views and engagement.
The aggressive marketing by HEX focused on price gains.
Twitter’s name of the official account reads the gain in price and high staking rewards. There aren’t many genuine projects that focus on price gains as much as HEX does. Generally, projects care about building the best services for their community. Their social media handles do not market how much the token’s price increased, let alone shout it…
