Redemption is the moment a HEX Time Token becomes what it always claimed to be: one HEX. This guide covers exactly what you receive, why the 1:1 has no deadline, and what your options are before the day arrives.
What Redemption Pays
On or after its redemption day, an HTT redeems 1:1 for HEX — you burn the token, you receive one HEX per HTT. There is no yield component: the stake’s yield belonged to the minting side of the trade, and the HTT holder’s return is the discount they bought at. The right to redeem never expires — the only time gate in the deployed contract is that the day has arrived.
Two Clocks, Not One
Two different clocks get compressed into one sentence, and the compression is where the “14-day redemption window” myth comes from.
The holder’s clock has no deadline. The deployed manager contract’s redemption function has exactly one time condition: the HEX day must have reached the token’s maturity. There is no upper bound. Once the backing stakes are ended, their HEX sits in the contract’s redemption pool for that maturity and does not decay; a holder who redeems years later receives the same 1 HEX per token.
The 14 days belong to the backing stakes. HEX’s own Grace Period for a late end stake is two weeks: a stake ended within 14 days of its end day unlocks whole; after that HEX takes 1/700 of the stake’s value per day. That is the stake’s exposure, not the holder’s — and the protocol is built to make sure it rarely bites. When an HTT is minted, the rewards of the stake’s last 10% of days are held back and cannot be minted against. From the redemption day anyone may end the stake. In the first three days the ender receives no bounty. From the fourth day, whoever ends the stake receives the End-Stake Subsidy, a tenth of that reserve per day, the whole reserve by day 13 — a bounty that reaches full size just before HEX’s penalty would begin. When a stake is ended, the unlocked HEX is paid in a fixed order, the Settlement Waterfall: the ender’s bounty first, the HTT holders’ collateral second, the stake’s creator last. Whoever ends the stake receives the bounty, the HTT holders’ pool receives the HEX tokens for user redemption, and the remaining HEX is paid to the stake owner’s wallet. So a late-ended stake’s loss comes out of its creator’s share.
The practical reading: once a series’ backing stakes are ended, its HEX waits in the contract and the contract charges nothing for waiting — redeeming costs gas, plus the gas to end backing stakes whenever the pool does not yet hold enough HEX for the redemption. 1 HTT = 1 HEX at redemption, guaranteed 1:1 forever: from the fourth day after the redemption day anyone who ends a backing stake earns a bounty, full by the 13th, so the stakes are ended long before HEX’s 14-day Grace Period runs out, and 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.
How to Redeem
- Hold HTTs of a series whose day has arrived (a matured series shows matured wherever this site lists it), and some PLS for gas.
- Open the official app at app.actuator.finance, go to More › Tokens, and choose Actions › Redeem on that series’ row (if the row is missing, add the series with Add Tokens). Enter the Redemption Amount.
- If the series’ pool does not yet hold enough HEX, the Redeem window says the backing stakes must be ended first and lists them under Select Stakes to End; tick stakes until HEX Collateral Required is covered. Each stake you end adds gas; from the fourth day past maturity each one also pays its End Staker Reward to you. The official documentation’s redemption page describes this process.
- Confirm the transaction. Any selected stakes end, the HTTs burn, and the HEX arrives in the same wallet.
Where a matured series still has a deep PulseX pool, its price sits at or very near 1 HEX, and selling there is economically similar to redeeming, minus the swap fee and the price impact. Most matured series have no pool, or one so small that its quote can sit far from 1 HEX in either direction, so for those redemption is the exit.
Before Maturity: Selling Is the Exit
The protocol has no early redemption — an HTT cannot be handed back for HEX before its day, at any penalty, because no such mechanism exists in the contracts.
Before maturity, your exit is the market: sell the HTT on PulseX at its going price (how to swap on PulseX; PulseX’s own app is app.pulsex.com). The cost of leaving early is simply the discount — an HTT trades below 1 HEX by an amount the market sets, mostly from the time remaining; before its day that gap can widen as well as narrow, and only at maturity does the HTT redeem for exactly 1 HEX (Convergence). The live discount table states today’s gap for every series, and the yield curve guide explains why the far-dated series trade deeper.
Two honest notes for early sellers: thin pools move — in a small pool your own sale can push the price against you (the discount table’s Pool and SafeSwap columns show how deep each pool is) — and selling at a discount is not a penalty imposed by anyone; it is the same discount that paid the buyer who is now taking your place.