HTT Technical Diagrams

What the Day Choice Commits: one stake backs one redemption day; after the first mint, every later mint from that stake uses the same day until all its HTTs are retired.  A day before the stake’s own end day is offered only well past the stake’s halfway point, and on that day anyone may end the stake early, with HEX’s early-end penalty landing on the staker, unless every HTT minted against it has been retired first.  A day on or after the end day carries no early-end exposure.

Where Your HEX Sits: your HEX stays staked in the HEX contract, inside its HSI, but the HSI leaves your wallet: the manager holds it until the stake is ended, or until every HTT minted against it is retired and the delegation is revoked.  Retiring takes the full amount minted, fee included, and is possible only before the redemption day: the app’s Retire HEX Time Tokens, then Revoke Delegation, which mints a new HSI NFT to your wallet.  The HTTs you mint arrive in your wallet.

Key Takeaway: redemption is permissionless.  Any HTT holder, not just the original staker, can redeem at maturity.  Minting is capped so every HTT is backed by HEX inside a stake.  1 HTT = 1 HEX at redemption, guaranteed 1:1 forever.  From the redemption day anyone may end a backing stake, and from the fourth day after it the one who ends it earns a bounty that is full by the 13th; for a stake whose own end day comes before the redemption day, the mint cap already sets aside HEX’s late penalty through 14 days after the redemption day.

Observation: because each redemption day is its own token, each has its own market price, and those prices lined up by date form the yield curve.  A deeper discount is a bigger total return, not a higher yield per year: in the figures above, HTT-7000 sits further below 1 HEX than HTT-3000, and pays less per year, because its wait is about 9 times as long.  See Understanding the HTT Yield Curve.