Hector is a decentralized system built around the $HEC token, backed and collateralized by Hector DAO. Coverage per HEC is derived using the market value of Treasury assets, not risk-free value. The difference is that market value includes non-stable assets such as FTM and FRAX, so coverage per HEC decreases as these non-stable assets fall in value.
If more HEC are issued while the market value of the treasury remains unchanged, the coverage per HEC will also decrease. If the HEC price falls below the base price, a buyback and burn program will be initiated. Hector DAO also became the proud recipient of the Fantom Foundation Incentives Grant and will start receiving rewards starting February this year. The native token $HEC is also listed on Digifinex and MEXC.
Hector DAO is not your typical fork; It is a spoon that contributes in a constructive way to the existing contracts and the creation of OHM. A fork of Olympus DAO (OHM) is typically considered a clone of OHM on another Layer 1 blockchain like Ethereum. The essence and purpose of a spoon differs from that of a fork. Most forks are divisive, but spoons encourage teamwork. Forks are used to take away market share and supremacy from a project, while spoons are used to complement the technological prowess of the projects they are inspired by.
Hector DAO is working with OHM collaborators and plans to deepen his connection to the project, which will help both projects. While it certainly takes a lot of inspiration from OHM, Hector DAO is dedicated to becoming a spoon of OHM, “cooperating” with OHM and evolving on what OHM has been evolving to build a financial system that benefits everyone !
Hector ecosystem
Staking, bonding and rebasing have been critical to Hector’s meteoric success in Q4 2021. However, these three factors aren’t enough to deliver a project with ambitions for long-term success. The community recently approved an allocation of $7,200,000 (7 percent of the state treasury) to fund the development of several sub-projects:
- Hector rebase: Hector Rebase is what everyone who uses Hector already knows: rebasing, bonding, staking. There are only a few changes here for the time being.
- Hector Cross Necklace: Hector Crosschain will be the team/sub-project responsible for managing Hector’s presence and offerings across multiple chains.
- Hector Bank: Hector Bank will allow users to lend/borrow their crypto tokens and receive APR/APY rewards in return.
- Hector game: Some of Hector’s custom NFTs will be used in the DeFi game in development. Players can earn rewards simply by playing the game.
- Hector launch: Hector Launch will provide the resources and knowledge needed to help new projects in the Fantom Opera Chain get off to the best possible start. HEC players gain access to exclusive whitelist areas, and developers gain access to the Hector audience and launch incubation services.
- Hector Swap: Hector Swap will be a DEX aggregator that will allow users to swap tokens and get the best possible rates.
- Hector University: Hector University will be an educational hub where users can learn about Crypto and Hector in a secure testing environment. This helps Hector DAO achieve the goal of helping the Fantom Opera Chain grow into the safest and most knowledgeable chain in the space.
- Hector payment: The Hector Pay project aims to create a payment system where users can send and receive crypto assets to and from friends and family across multiple networks. Users will also be able to pay for real-world items with Crypto funds.
Hector DAO has one of the best RFV/Market Cap ratios on the market. The project had weeks where it outperformed the Olympus DAO best weekly RFV performance by 3.6 million RFV growth per day. 4.4 has proven critical to the success of the project.
Demand for the HEC token will increase as the utility of the token grows. Increased demand leads to increased buying pressure, which drives up the price of the token. As the value of the token purchase is now a combination of APY incentives and price increases due to demand and burns, APY becomes less important as they leverage the token.
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
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