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How did Hector Network launch?

Hector Network quietly launched on Nov 1st 2021 on SpookySwap.
  • There was no presale or ICO
  • There was no whitelist
  • There was no pre-allocation outside the launch marketing funds which have all been used
  • Liquidity has been locked and is currently owned by the protocol
  • Marketing funds were locked and vested weekly until Dec 27th 2021

How does this all work?

At a high level, Hector Network consists of its protocol managed treasury, protocol own liquidity (POL), staking mechanisms, and subprojects with supply burning mechanisms (incl. manual buy backs) that are designed to control the token supply, encouraging the overall ecosystem to be deflationary (meaning HEC circulating supply shrinks more than it grows).
Within the Hector Network Ecosystem, the team is developing several key subprojects that will support the growth and ambition to become a major player on the Fantom Chain and beyond. In the left-hand table of contents panel users can discover more details about the already released subprojects. Furthermore, in the section “Features in development” readers are welcome to gain first insights about subprojects that are still under construction.

Has Hector Network been audited?

Hector Network has Certik, a well known and trusted auditor, audit all of our major smart contracts.

What is APY?

APY stands for Annual Percentage Yield. It measures the real rate of return on a principal by taking into account the effect of compounding interest. At Hector Network an APY is currently earned through our Rebase and Staking offering. Shortly Hector Network will be introducing an emission plan that will alter the APY, read our medium article? For more information about the Emission plan.

What is a rebase?

Rebases are the mechanism by which the Protocol mints tokens. Approximately every 8 hours (every epoch on the Fantom Opera Chain), the Protocol mints new tokens based upon the staking parameters.