Source : zycrypto.com
Hector Finance, a multi-chain protocol built on the Fantom network, has announced the launch of its hotly anticipated DEX. The Hector DEX supports the Avalanche ecosystem, Binance network, Ethereum ecosystem, Fantom protocol, Moonriver, and Polygon network.
Through a recent video from the Hector Finance team, Hector DEX is set to 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.”
Moreover, cross-chain is the future of Web3 which has seen tremendous development with layer 1 and 2 protocols.
Notably, the Hector ecosystem utilizes a utility-based token dubbed the $HEC token. According to the team, a $HEC token can be used to stake and earn passively. Additionally, the $HEC token can be exchanged for the $TOR stablecoin, which ostensibly gives highly competitive farming rewards. Notably, the $TOR stablecoin can only be minted by burning $HEC.
“In collaboration with Rubic Exchange, Hector Finance 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 Finance’s future,” Hector noted in a press release.
Notably, the $HEC token has received endorsement by different crypto firms including CertiK on audit and BitMart Exchange for listing.
In order to ensure future growth sustainability, Hector has partnered with different blockchain companies to symbiotically benefit. Among the kya or partnerships include SpiritSwap, which is an incentivized AMM on the Fantom Opera chain.
Notably, the SpiritSwap platform has launched a USDC-HEC Liquidity Pool to help Hector’s users trade seamlessly. Moreover, the partnership will increase the user base through sharing of community. Remember Hector Finance has over 145k followers on its social media platforms.
The Hector network has several means of generating income, among them its stablecoin.
Notably, Bonding is the way in which Hector Finance generates tokens. Users can use tokens like DAI to mint HEC tokens, which will then be vested for gradual release to the minting party.
Traders can now securely exchange different tokens from various supported chains on the newly launched Hector DEX. By connecting their crypto wallet with the Hector DEX, users can exchange assets with less technical support.