It has been almost 8 months since we last discussed Richard Heart, his first project Hex, and his Ethereum hard fork PulseChain & PulseX. Many of our readers were completely unaware that an Ethereum hard fork was imminent. Nor did they know that PulseChain would airdrop duplicates of all the tokens they own on Mainnet. After reading the post, there was a mix of skepticism, excitement, and outright calls of scam.
PulseChain’s founder, Richard Heart, is the founder of the crypto Hex. Hex has its own set of admirers and detractors.
PulseChain project is not yet launched, but the second version of the PulseChain Testnet is live.What else has happened since we last visited the projects?
Timeline of Events For PulseChain Fork
August 3, 2021 the sacrifice phase for PulseChain concluded raising ~$1 Billion.
[Note – Much of the token raises are in $HEX token. Around 1/2 of both the the PulseChain sacrifice and PulseX sacrifice. Since allegedly Richard Heart has direct control over ~90% of $HEX through ownership of the wallets, it would be easily manipulated. Richard Heart has not responded directly to the claim he owns the wallets as far as we know]
Shortly thereafter on a live stream, Richard Heart ‘hinted’ that PulseChain network could launch within 2 months:
September 28, 2021 the PulseChain Testnet went live.
October 2021 there were rumors of a December or February launch.
Oct 28, 2021 Coin Market Cap made a page for the PulseChain coin $PLS.
Nov. 5, 2021 PulseChain dev Steve Hitson gives update and community is excited for an end of year launch
Dec 10, 2021 PulseChain Testnet V2 went live with the ability to test staking and validator rotations.
Dec 17, 2021 Hurricash opens a sacrifice phase for its protocol on PulseChain
Dec 26, 2021 PulseX the AMM on PulseChain (also owned by Richard Heart) begins sacrifice phase
January 10, 2022 the first stage of PulseX sacrifice ends with over $1 billion invested in the project.
January 2022 PulseRamp the pulse chain bridge to onramp from Eth goes is created.
Feb 25, 2022 the full PulseX sacrifice concludes
March 20, 2022 Testnet 2.5b launches with swapping, liquidity pools.
April 26, 2022 Richard Heart gets official blue check verification from twitter
May 15, 2022 The devs “confirmed” launch happens by end of month. The unofficial PulseChain site has not been updated on the release date timeline since this May timeframe.
June 23, 2022 – over 100 projects ‘confirmed’ to be launching on PulseChain
July 11, 2022 – Richard Heart livestream claims 14 developers are working on testnet and a separate team is building a new wallet for PulseChain. PulseChain is 10-40x fater than Eth and burns 25% more fees so deflationary.
Sept 8, 2022 – bugs are still being worked out, but the Richard Heart Hex documentary movie is finished.
Early October 2022 – As of today, there is still no launch more than 5 months after the devs ‘confirmed’ an end of May launch. The PulseChain Reddit group is claiming November 18th as an important date. Allegedly a “Hexican” (what Hex Coin fans refer to themselves as) made the claim of a Nov 18th milestone. And Richard Heart re-tweeted the video. This is leading to speculation of a launch date or the announcement of the launch date.
What Has Richard Heart Been Up To?
Your fork launch has been delayed for months. People sacrificed ~$2B (allegedly) in tokens to get airdropped newly minted tokens on your chain over a year ago. What do you do? Hire more devs? Be Transparent about timing? Give something of value to the early adaptors?
If you answered flex hard on twitter and market your token to non-native crypto folks….thanks for reading our post Rich.
Richard Heart’s twitter timeline appears to consist almost entirely of 3 things. 1) Flexing expensive jewelry, cars, clothes, and purses…err…bags. 2) Claiming to have called every top & bottom and hack. 3) Lots of funny takes and making fun of haters.
While PulseChain and PulseX are being delayed, Richard Heart has purchased:
- Numerous cars including Lambos and the ‘fastest’ Ferrari
- World’s largest diamond
- Boxes of Rolex
- Numerous Gucci & other designer clothes & bags
He claims the flashy purchases are done for his followers as it brings attention to the PulseChain, PulseX and Hex ecosystems.
Richard Heart’s History and Claims of Scamming & Spamming
There is a lot of allegations against Richard Heart.
Richard Heart, aka Richard James Schueler, aka James Heart, aka J. Richard was one of the first people sued for spamming in 2002 in Washington state.
He was also tied to a Panamanian criminal network called “CharityLover” and the now defunct Panama-Guide site.
His Hex token has received fire under some questionable practices. First, the contract duplicates all coins minted and deposits a coin into a wallet for each one purchased. When you stake Hex there a lot of fees, including fees for not unstaking promptly. All the fees also get deposited into a wallet.
During the initial Hex coin offering (ICO), all the $ETH that was used to purchase $HEX was removed from the ICO wallet. Each transaction was for 1,337 $ETH, where 1337 is old hacker code for elite. This caused many people to claim that Heart was tongue-in-cheek bragging about scamming people.
Additionally, the 2 main wallets in the HEX protocol control around 90% of the $HEX tokens which has lead to claims of manipulation.
A lot of Richard Heart’s “haters” point out that there is enough smoke and the flexing online shows he is getting rich off retail investors.
Hexicans Have Made Money & Charity
However, a lot of Hexicans have made significant wealth in the $HEX token. The price of the token has gone up and people who purchased early and sold out have made significant money.
Additionally, Hexicans donated over $25 million to the SENS research foundation that is doing work on age-related illness.
There is a reason that Heart has a large following of loyal fans.
Conclusion – Will PulseChain launch and Succeed?
It is yet to be seen if PulseChain will launch and if it will be successful. There may or may not have already been a snapshot and all the tokens you own on the Ethereum Main-Net will be airdropped to wallets on the PulseChain.
If Hexicans are to be believed, the launch of PulseChain will be the largest wealth creation event for any of the millions of Eth wallet holders. However, the many detractors remain skeptical and most crypto users are still completely in the dark of the event.
On our previous post about PulseChain, we went in-depth into the new chain. A lot of Hexicans tell us to ‘wait and see’ since we asked if it was the biggest airdrop or scam ever. We continue to look forward to watching the events play out.