Bristol, United Kingdom–(Newsfile Corp. – March 30, 2022) – Hector, a decentralized system based on the HEC token, which is collateralized and backed by the Hector Digital Assets Organization (DAO) announces the launch of its Decentralized Exchange (DEX). Hector leverages the Algorithmic Currency Protocol and is backed by other decentralized assets to provide price stability.
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Hector is creating an ecosystem that will include a variety of innovative developments and applications that will differentiate it from its competition. Hector is a community-owned cryptocurrency, and HEC holders vote on his future via on-chain voting.
USDT and USDC are examples of stablecoins. They use them to store non-volatile value, which allows them to keep their purchasing power constant from day to day. The Federal Reserve is in charge of issuing US dollars, and its fiscal policies have regularly resulted in the currency’s depreciation.
This creates a unique conundrum in the cryptocurrency industry: This industry utilizes stablecoins that are not backed by truly stable assets. The idea is to develop a coin that exists in the Cryptocurrency world while also increasing in Dollar Wealth over time to serve as a true store of value.
To be considered a store of value, an asset’s price must remain constant or increase over time. Satoshi Nakamoto mined the Bitcoin genesis block in 2009, kicking off a financial revolution that would fundamentally alter the status quo. The voices portraying Bitcoin as a store of value have grown louder in recent months, and several significant organizations have either purchased Bitcoin or have openly stated that they intend to do so. This speculative expectation of buying volume, combined with the fact that Bitcoin has not yet been fully mined, is gradually driving up the price of Bitcoin.
Staking HEC tokens is the most common technique for HEC investors to accumulate wealth. Investors stake their HEC, securing it in the ecosystem and earning compounding benefits in sHEC (which will always be exchangeable for HEC at a 1:1 ratio) from bond sales. Stakers’ HEC holdings will grow over time, providing greater reward and lowering risk. Staking HEC becomes less dangerous and more profitable over time as an increasing portion of HEC protects investors from negative price action, and because the protocol provides a rising price floor, staking for long enough will lower an investor’s cost base below HEC’s intrinsic value.
Hector as a Decentralized Autonomous Organization (DAO)
Hector is a DAO (Decentralized Autonomous Organization). Hector is thus governed decentralized. The company is doing this because they want to make the Hector project more community-driven by allowing community members (sHEC holders) to vote on proposals that will shape the project’s future. The crucial term here is inclusion: the team is trying to create an environment that values and supports community activities. Proposals can guide developments, awards, options for introducing (new) bonds, team members, or marketing methods.
In light of recent cryptocurrency-related frauds, team Hector Finance has set out to establish a secure environment for their customers and investors. As a result, they’re putting in place security measures that will significantly reduce the danger of security attacks from both internal and external sources. There are five main security measures in place.
1. Multisignature Authentication System
2. Website Security
3. Certik Audits
4. Locked IP
Hector’s liquidity is currently available on Fantom. Hector will be able to reach new consumers on other chains thanks to cross-chain liquidity, while Fantom Opera is still a new chain with fewer users than, say, Ethereum. The other targeted chains will be revealed soon. It is anticipated that Hector’s user base on other chains will expand as a result of the pools, allowing for a considerable influx of treasury funds.
To know more about Hector Finance visit www.hector.finance
Twitter NFT: https://twitter.com/Mythos_HEC
Buy HEC on FTMScan: https://ftmscan.com/token/0x5C4FDfc5233f935f20D2aDbA572F
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118591