HectorDAO Becomes First Fantom Project to be Listed by DigiFinex

By Stan Peterson
January 20, 2022 Updated January 20, 2022

Hector DAO expansion plans are in full swing and Digifinex Exchange recently contacted them to offer a spot as their first-ever Fantom project. On both Coinmarketcap and Coingecko, Digifinex is placed in the Top 10 by liquidity and volume. Hector DAO will provide them with 15,000 USD worth of $HEC tokens to employ in their marketing efforts.

In January, Hector DAO turned two months old. Hector has seen tremendous success in the last few months, with the protocol increasing its financial, technological, and social strength (the most traded coin on the Fantom network in November, and consistently ranking among the most influential Fantom projects on LunarCrush). While the 2022 plans are well set, let us take a look at some of the key achievements over the short two month period:

  • Successful and highly anticipated stealth launch with a healthy token distribution;
  • Multisignature Authentication;
  • Introduced the first wFTM, MIM, USDC, FRAX, etc, bonds on FTM;
  • Invention and implementation of first 4,4 bonds (hyperstaking) in the space;
  • Launched a more efficient staking contract (v2);
  • Introduced Wrapped Staked Hector (wsHEC);
  • Unique 100% SAFU treasury investment contract with Curve integration;
  • Unique buyback and burn system (staggered buybacks from LP);
  • First gOHM bonds on Fantom;
  • Implementation of a warm-up period after staking with forfeit options with new bond contracts.

Looking at the success of Olympus and Olympus forks over the last few months, it’s clear that staking and bonding will not suffice for Hector DAO. High APY rates have the effect of diluting everyone’s share of the pie, and the aggregate token price will continue to fall in the absence of buying pressure from elsewhere. The market is competitive and changing all the time. Obviously, Hector DAO aims to give $HEC token holders as much value as possible. In 2022, APY will have a smaller part in their initiative, which will benefit all holders.

The 2022 Roadmap: What’s Next to Come For Hector DAO

In 2022, Hector DAO will combine the best of both worlds: a rebase project with a complete ecosystem of usefulness to boost the HEC token’s value. In 2022, Hector DAO has early plans to convert the HEC token into a token with a capped or falling supply (more on that later), signaling a true break from the OHM paradigm. The project has no intentions to discontinue the APY rewards program.

In 2022, Hector DAO will serve as the umbrella under which the Hector Ecosystem will exist. Hector DAO will distribute resources and commands to the initiatives that fall beneath it. Project leaders will report to Hector’s Core Team and will coordinate the delivery and operations of each project. Hector is still a DAO – votes on modifications to parameters like partnership agreements, technical developments, funding allocations, and Launch Incubation will continue.

Within the Hector Ecosystem, Hector will include an open interest rate protocol that will allow users to lend and borrow digital assets. By lending out stable coins, lenders can earn a competitive APY while avoiding the danger of HEC price volatility. Borrowers can use sHEC as collateral to leverage their position, or they can borrow stablecoins to employ in various projects without having to unstake sHEC. The protocol’s benefit is that the treasury collects fees, which are made up of the difference between the APR for borrowers and the APY for lenders. The treasury expands as a result, which boosts Hector’s APY. The lending and borrowing protocol will have its own user interface. In January 2022, Hector Bank will open its doors.

Hector Ecosystem Overview

Hector ecosystem has a lot to offer in 2022, but some of the key projects of the ecosystem include Defi NFTs and Hector Pay along with Hector Bank, Hector Swap, Hector Launch, and several others. Hector DAO is developing a DeFi game in which players can win incentives for participating (P2P). The game will make use of the NFTs and will grow over time. Revenues from the game will be used to expand not only the game but the Hector Ecosystem as a whole.

The Hector Ecosystem will allow NFT producers to mint their tokens. A portion of the royalties from the sale of NFTs will be used to purchase HEC tokens and distribute them to NFT holders. The fact that Hector has the resources to advertise and sell NFTs will be an incentive for NFT producers. The incentive for buyers is that simply holding the NFTs advertised on the Hector ecosystem earns them money. This allows Hector to collaborate with the top NFT producers to bring special collections to holders.

One of the most ambitious projects for Hector DAO is Hector Pay. The aim is to build a payment system that allows users to utilize their (DeFi) crypto balance to pay for real-world things. The ultimate purpose of cryptocurrencies is to replace fiat currencies while maintaining decentralisation. A smartphone app will allow users to send and receive coins across numerous networks to and from friends and family. The Hector Stablecoin will be utilised to make payments with the lowest transaction fees, all while using the Fantom Opera chain’s strength and speed.

To learn more about The Hector DAO visit Hectordao.com

Twitter: https://twitter.com/HectorDAO_HEC

Telegram: https://t.me/hectorDAO

Reddit: ​​https://www.reddit.com/r/hectordao/

Youtube: https://www.youtube.com/c/HectorDAO

Instagram: https://www.instagram.com/hectordaohec/

Medium: https://medium.com/@HectorDAO

Discord: https://discord.gg/hector

Github: https://github.com/HectorDAO-HEC

TikTok: https://www.tiktok.com/@hector_dao

Buy HEC on Fantom: https://docs.hectordao.com/how-to-buy/for-users-already-on-the-fantom-network

Buy HEC on FTMScan: https://ftmscan.com/token/0x5C4FDfc5233f935f20D2aDbA572F770c2E377Ab0

Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.