Hector Network is building a financial center on the Fantom Opera Chain and beyond, with a range of use cases that the $HEC token can serve. The $HEC token can be staked for (rebase) rewards. Through buybacks and burns, the protocol tries to deliver an appealing APY while also promoting scarcity. The $TOR stablecoin can only be obtained by exchanging $HEC for $TOR, and it gives highly competitive farming rewards.
In collaboration with Rubic Exchange, Hector Network has launched its Cross-Chain DEX, which will allow customers to switch between tokens on several networks in a single click. The team feels that chain-agnostic projects will have a lot of potential in 2022 and beyond, and that becoming completely “chain-agnostic” would be a critical step for Hector Network’s future.
In early 2022, Hector Network announced its plans for the coming year, setting out its
intentions to create a series of so-called ‘subprojects’ which would aid the growth and
development of the Hector Network ecosystem. Included in those subprojects are, among other
things, a lending and borrowing protocol, a stablecoin farming system, and a cross-chain DEX.
After the successful deployment of the lending and borrowing protocol, and stablecoin farm
which gives more than 30% APR, Hector Network has finally launched Hector DEX. This comes in tandem with the certik audit of Hector Network’s stablecoin farm and listing on the BitMart exchange.
Hector DEX will allow users to switch between tokens across several networks with a single click, minimizing most of the complexities and effort involved with token bridging. According to a recent video from the Hector Network team, Hector DEX will also serve as the “backbone of [Hector’s] general cross-chain expansion, eventually allowing users to work with offerings from any chain as if they were natively on Fantom.” This will make Hector Network’s products available to a far wider number of people, giving them access to a much larger pool of liquidity over time. By assessing all available DEXs and bridges, Hector DEX will be able to make the most cost-effective swaps conceivable.
Hector Network’s deflationary model meets the condition for a store of value to maintain a stable or rising price, indicating that HEC has a good chance of becoming a prominent player in the Fantom Opera Chain. Because HEC’s supply is dynamic, a supply-induced price ceiling can be avoided, letting the industry continue to flourish.
Long-Term Prospects, Objectives, and Signals
Hector presents a major potential that must be managed with care, responsibility, and a focus on long-term success rather than short-term gains. This is a core belief of the development team, and we will always uphold it.
The community that supports Hector is one of the most significant aspects of it. How the development team interacts with the community, and how the community responds to the development team, is one of the first things a potential investor would notice in a project. The Hector Team makes it a priority to be open, responsive, honest, and knowledgeable at all times. The Hector Team is well aware of this and will be developing custom campaigns to promote, reward, and recognise community individuals and groups who go above and beyond to be helpful, positive, and perceptive. The “OG ” campaign in the discord server is the initial step in this program; the most dedicated members are given a tag that informs newcomers about the program.
When projects use relationships to flourish in a symbiotic way, they thrive. It’s no secret that forming alliances with other companies can increase demand, liquidity, volume, and impact. Hector intends to build numerous good partnerships with other companies in the sector as a result of this. SpiritSwap, an incentivised AMM on the Fantom Opera chain, has agreed to be the first partner. SpiritSwap offers some of the best farms in the DeFi space. SpiritSwap has a solid relationship with them, and they have launched a USDC-HEC Liquidity Pool on their platform. Apart from these the Hector Network ecosystem has also boasts of partners such as Certik, SpookySwap, Ola, Rubic.
To learn more about Hector Network visit www.hector.network
Telegram Ann: https://t.me/HectorNetworkAnn