HECTOR DAO
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Introduction

What is HECTOR DAO?

Stablecoins like USDT and USDC have become an integral part of the Crypto space. We use them to store non-volatile value, allowing us to maintain the same amount of purchasing power from day to day. Unfortunately, this isn’t actually how the US Dollar works. The Federal Reserve controls the minting of US Dollars, and it’s fiscal policies have consistently led to the depreciation of its currency. This means that a Dollar today is worth more than a Dollar tomorrow.
Source: Bureau of Labor Statistics

What is the aim of Hector DAO?

This is why Hector DAO exists. Bitcoin and Cryptocurrency in general was the first step towards decentralisation. Hector DAO is the next step towards this goal. The native currency of Hector, $HEC will serve as a reserve currency backed by assets owned and maintained by a truly decentralised, autonomous protocol.
Similarly to Olympus, HEC is backed by DAI and other assets owned by the reserve treasury, and will function in a very similar way: when HEC trades below DAI, the protocol will buy back and burn HEC, increasing its price to at least 1 DAI. This means that HEC will always be worth equal to, or more, than DAI.
Hector DAO aims to become the de-facto reserve currency of the FTM Opera network, one which is truly owned and maintained by a decentralised protocol which serves the majority. Our goal is for $HEC to be a common trading pair which is backed by real assets.

How do I buy HEC?

We find that most of our users are not yet on the Fantom Opera Chain. Therefore, we have written a series of guides on how to bring funds form other networks into HEC.
Please check the "HOW TO BUY" section on the left.

How to participate in Hector DAO

There are two main strategies for investors: staking and bonding. Stakers stake their HEC tokens in return for more HEC tokens, while bonders provide LP or DAI tokens in exchange for discounted HEC tokens after a fixed vesting period.
Decisions will be made via snapshot, using sHEC as a voting token. At our Snapshot page https://snapshot.org/#/hectordao.eth/ holders of sHEC can vote on proposals brought forward by the team, or bring their own proposals to a vote. Hector's ambitions can only be reached with the help of each member of the community
Last modified 5d ago