HEX is a blockchain-based Certificate of Deposit (CD) created by Richard Heart on 2 December 2019. It is an ERC20 token built on the Ethereum network and aims to replace traditional CDs in the financial market. HEX leverages the emerging DeFi ecosystem within Ethereum. Transactions and interactions with the HEX smart contract occur on the Ethereum network. Users can stake HEX coins to receive a share of new HEX coin issuance and enjoy incentives for price appreciation. The HEX smart contract penalizes early stake termination and rewards larger stakes held for longer periods. HEX is distributed to Bitcoin holders through a snapshot of the Bitcoin UTXO set, with a distribution rate of 10,000 HEX per 1 BTC. HEX can also be obtained by exchanging ETH through the HEX smart contract. Unclaimed HEX coins by Bitcoin holders after the first year are distributed to active HEX users. The maximum annual inflation of HEX is designed to be 3.69% after the first year.