Hex had an event called Big Pay Day. All the hex available to BTC holders as the snapshot day was being given out, since most BTC people didn't claim their Hex.To get into to the BPD, you needed to stake (lock up) your hex for at least until the day of the BPD, max stake is 15 years. Longer you stake, the higher your share of the BPD.A few days ago, the BPD payout to most people was about 3x their principal because only 18% of hex was staked. Most people assumed they would be getting at least a 2x on their principal as the amount staked was so low so their share was high.BPD just ended recently, the amount of Hex staked is now 98%.Richard has a huge stash of Hex owned by himself, although its not publicly admitted for legal reasons to do with securities and getting BTFO by the SEC. During the launch, you could exchange Ethereum for access to a daily pool of minted Hex, the amount you get based on how many other people are in the pool. Richard was recycling Hex into the AA over and over, so for example say I put 10 eth in- that goes to an address that RH can access. He takes my 10 eth, moves it to his own wallet, then puts it through the AA the same way I did. 10 eth goes back to his address, but this time he also gets a share of the daily Hex pool as well. He can do this as many times as he wants each day, nobody knows exactly how much he was doing it.RH probably owns between 50 and 70% of all Hex in existence because of this. He left it unstaked right up until the BPD so people thought they would get a bigger payout.He staked it at the last moment to get an enormous share of the BPD, so it went from a 3x return to a x0.3 return, from 18% hex staked to 98% hex staked.
Submitted November 19, 2020 at 11:19PM
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