Hector is a decentralised system based on the $HEC token, which is backed by the Hector DAO and is collateralised. The ecosystem is being built for Web 3.0 and has a number of developments on its cards in 2022. Currently, Hector DAO has a TVL of $267M on DeFiLlama, putting them in the 'Tier 3' category. Hector DAO will start receiving the Fantom Foundation Incentives Grant From February onwards. This means Hector DAO will receive 208,333 $FTM per month, equating to ~$480,000 USD a month, and $5.75M total!
(This is at current FTM token prices).
The Fantom Opera Chain is home to the Hector DAO project. By building a range of use cases within the Hector Ecosystem, they hope to provide value to their users. A portion of the proceeds from these use cases will be utilised to purchase and burn Hector tokens on the exchange. Over the course of 2022, Hector will become multi-chain. HectorDAO's protocol-managed treasury, protocol-owned liquidity (POL), bond mechanism, and staking rewards are all meant to keep supply expansion under control. The protocol makes money from bond sales, and the treasury uses the money to mint HEC and distribute them to stakers. The protocol can accumulate its own liquidity by using liquidity bonds.
Hector Defi NFTs: What’s New
The NFT market has come a long way from the first quarter of 2021, and many projects with uniqueness and rarity from early 2017s have fetched millions per NFT. On the other hand, many new NFT projects on Solana have also fetched similar amounts. The NFT ecosystem has come a long way from being just a mode of digitisation and it is building several new use cases today. Play to Earn NFT games in particular are seeing a lot of growth at the moment. It is clear NFTs are in demand, old or new, and people want to invest in projects with the potential to multiply their investment by several folds by being an early entrant. However, Hector DAO is revamping the NFT ecosystem with its Defi form of P2E NFT gaming. Hector NFT is one of the projects on which the team has been quietly working for the past few months. Now is the time to start disclosing additional details. Hector NFT has a few key objectives:
- To create a DeFi game (Currently lovingly called Hector Game)
We are creating a DeFi game that will allow users to earn rewards by playing (P2P). The game will use the NFTs we have been creating and will expand over time. Revenues generated by the game will support the expansion of not only the game but the Hector Ecosystem in general.
- NFT Staking
NFT creators will be able to mint their NFTs through the Hector Ecosystem. A small portion of royalties from NFT sales will be used to buy HEC tokens and distribute them to NFT holders. The incentive for NFT creators will be that we have the resources to advertise their NFTs and generate sales. The incentive for buyers is that they make money just from holding the NFTs listed on the Hector ecosystem. This allows us to work with the best NFT creators to offer exclusive collections to the community.
Hector Ecosystem: Key 2022 Projects
2022 could prove to be the breakout year for Hector DAO especially after looking at its progress in just two months of launch. Some of the key projects that Hector is aiming to launch include Hector Bank and Hector Launch.
Hector Bank: Hector bank will include an open interest rate protocol, which will allow users to lend and borrow digital assets within the Hector Ecosystem. By loaning out stable coins, lenders can earn a high APY while avoiding the risk of HEC price volatility. Borrowers can use sHEC as collateral to leverage their position, or they can borrow stablecoins to utilize in other projects without having to un-stake sHEC. The protocol's benefit is that the treasury earns fees from the difference between borrowers' APR and lenders' APY. The treasury grows as a result, and Hector's APY rises as a result. The protocol for lending and borrowing will have its own user interface.
Hector Launch: Hector Launch will serve as an incubator and launchpad for new Fantom Opera Chain projects. There is currently a gap in the market for dependable incubators like these. Developers of new projects will be able to tap into the Hector audience by granting HEC stakeholders unique whitelist spaces. The benefit to the Developers is that they will be able to collaborate with Hector Launch to create a variety of materials to help with their launch, as well as receive access to the Hector community and reach a huge audience much faster than they could otherwise. Developers will also have access to our Protocol-Owned-Liquidity as a Service offering, which will allow them to build liquidity for their projects in a secure manner.
Within the Fantom ecosystem, Hector DAO will position itself as a financial centre to facilitate a variety of use cases. We want to make managing your assets, lending/borrowing, earning interest on staking, bridging between chains, launching new projects, and much more as simple, risk-free, and quick as possible.
To learn more about The Hector DAO visit Hectordao.com
Buy HEC on FTMScan: https://ftmscan.com/token/0x5C4FDfc5233f935f20D2aDbA572F770c2E377Ab0