HectorDAO, a DEFI governance token, is building a truly decentralized ecosystem and has a very eventful final quarter ahead of it. The developer team announced it is in the final stages of developing the Hector Bank, a key protocol in the Hector DAO ecosystem. Apart from the development update, the native token $HEC could well be listed on XT.com soon. The governance protocol revealed that the tier-2 exchange has reached out to them for listing while the team is in talks with several tier-1 exchanges. The decentralized protocol revealed four major developments regarding the project,
- Hector Bank Development
- Audit with Certik
- Possible Listing on Tier-1 and Tier-2 Exchanges
- Rari Partnership
Hector DAO aspires to become the FTM Opera network’s de-facto reserve currency, one that is really controlled and maintained by a decentralised protocol that serves the majority. The project’s main vision is for $HEC to become a popular trading pair backed by actual assets. For that it has ensured to incorporate best industry practices and security measures.
Hector Bank is an open interest rate protocol that allows Hector Ecosystem members to lend and borrow digital assets. 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. Hector, as a spoon of Ohm, will have a one-of-a-kind native borrowing/lending procedure, with fees deposited straight into the treasury. This would ensure a seamless transaction ecosystem for $HEC users allowing them to fulfil all their banking needs from a single platform. With Hectorbank, Hector DAO will have its own native lending and borrowing protocol, all to the direct benefit of the treasury. Hectorbank will become the largest lending and borrowing protocol on Fantom – both within their own dashboard and on an external page.
In order to make Hector Bank a guaranteed success, the decentralized protocol has partnered with Rari Capital DAO. Rari Capital is a set of decentralised finance protocols with the goal of bridging the gap between technical and non-technical minds in order to bring the next generation of mass users into the sector. It has created a suite of solutions that generate and deliver aggregate yield, providing traders with an easy and secure way to add value to their existing assets. Now HectorDAO would partner with Rari DAO to incorporate services.
Fuse is a protocol made by Rari Capital that supports isolated interest rate pools. Fuse allows “pool creators” to spin up customised, isolated pools for lending and borrowing assets of their choice. Pool creators can choose all the unique parameters they want: interest rate curves, oracles, collateral factors, etc.
Hector DAO also revealed that it has partnered with one of the top security audit firms – Certik which will complete a full set of audits in the coming weeks. Hector DAO’s partnership with Certik also reflects its commitment towards transparency and security especially at a time when many new Defi protocols have rug pulled users of millions of dollars. Thus an auditing by Certik would definitely act as the badge of security for investors. HectorDAO has got the on-boarding approval and the audit has been fully paid for.
At all times, the HECTOR Team strives to be open, responsive, honest, and knowledgeable. The HECTOR Team has created and tailored programmes to promote, reward, and recognise individuals and organisations who go above and beyond to be helpful, positive, and insightful.
The Hector DAO team is currently in talks with several exchanges, including a Tier-1 exchange.
The native reserve currency HEC of Hector DAO would be a gamechanger in the market, especially at a time when governments all over the world are cracking down on centralised stablecoins. While the US government is preparing to publish laws, companies like Tether continue to operate in the dark. HEC’s token value will undoubtedly fluctuate at first, but the substantial staking rewards appear to be an appealing proposition for investors. This, in turn, will attract additional investors looking to build wealth, increasing demand even further. This will create a feedback cycle, resulting in the DAO expanding and the HEC price rising. Expansionary periods also allow the DAO to grow the amount of cash it has on hand.
To learn more about The Hector DAO visit Hectordao.com
- Twitter: https://twitter.com/HectorDAO_HEC
- Telegram: https://t.me/hectorDAO
- Instagram: https://instagram.com/hectordaohec
- Discord: https://discord.me/hector
- Reddit: https://www.reddit.com/r/hectordao
- Github: https://github.com/HectorDAO-HEC
- Docs: https://docs.hectordao.com/
- Youtube: https://www.youtube.com/channel/UCE2kfScrJujDQ32HRPEIF2w