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free-claim

Free Claim

A HEX free claim is available for those who were BTC holders at the time of the snapshot. The snapshot was December 1st, 2019 at 7pm EST. For BTC claims, the contract immediately stakes 90% of the claimed HEX for a minimum of 350 days, while the remaining 10% is liquid and can be traded immediately.

How it's Calculated

Free Claim HEX= (BTC) * (10,000 HEX/BTC) * (Silly Whale Penalty) * (Late Penalty) * (Speed Bonus)

BTC:

  • BTC held by the address at the time of snapshot
  • For our example, assume our address holds 3000 Bitcoins

Silly Whale Penalty:

  • Equal to 1 for addresses with less than 1,000 Bitcoins
  • Equal to 0.5 for addresses at 1,000 Bitcoins
  • Scales linearly to 0.25 for addresses at 10,000 Bitcoins
  • For our example, the Silly Whale Penalty would be 0.444

Late Penalty

  • Late Penalty = 1 - (Days Passed/350)
  • On the first claim day, 0 days were passed
  • For our example, assume 30 days have passed, so the Late Penalty is 0.914

Speed Bonus

  • On day 1, the bonus started at 1.2 (20% Bonus)
  • Each day, the bonus drops by .00057 (.057% daily)
  • This continues for the entire 350 days of launch until the bonus no longer applies
  • For our example (30 days), the Speed bonus is 1.183

Free Claim HEX= (3000 BTC) * (10,000 HEX/BTC) * (0.444) * (0.914) * (1.183)

Free Claim HEX= 14,402,409 HEX

  • 90% of Free Claims are staked a minimum of 350 days (12.96M Hex in this example)
  • The address would have 1.44 million free-claimed, liquid HEX

How to Free Claim

Use this link to free claim using your BTC address and get a bonus 10% on your claim!

If you need further instruction, reference the video below. https://www.youtube.com/watch?v=LHbGPfhn3D8&feature=emb_title

free-claim.txt · Last modified: 2020/05/15 19:02 by yikes