Hector Finance Gears Up for the Launch of Hector DEX - Coindoo
Hector Finance

Hector Finance Gears Up for the Launch of Hector DEX

Editorial Team Avatar
Mar 10, 2022
4 min reading time

A new cross-chain DEX from Hector Finance and Rubic Exchange will let users move between tokens on different blockchains with just one click. They think that being “chain-agnostic” is a big step for Hector Finance’s future, as it’s thought that chain-agnostic projects will have a lot of chances in 2022 and beyond. 

Before the end of the year, Hector Finance announced its goals for the year 2022. They were called “subprojects,” and they are meant to help the ecosystem of Hector Finance grow and improve. One of the things it has built is a way for people to loan and borrow money, a stablecoin farm, and decentralized exchange (DEX). 

A stablecoin farm with interest rates of more than 30% has been set up by Hector Finance via farming their new stablecoin $TOR. The company is now preparing for the launch of Hector DEX. In addition, both the native token $HEC, and the stablecoin $TOR will be listed on Bitmart.

With the Hector DEX, users won’t have to deal with the time and effort it takes to connect tokens from other networks. They can do so with just one click!

The Hector DEX will also be the “backbone of [Hector’s] broad cross-chain expansion,” says a video from the Hector Finance team. This means that customers will be able to use the services from any chain as if they were natively on Fantom. As a result, more people will be able to use Hector Finance’s products, and the company will be able to get more money in the long run. 

Hector DEX will use all of the available DEXs and bridges to utilize the most efficient token swap that is technically possible, saving costs along the way. Hector Finance has a lot of potential if it can solve the problem of 3 million people having to keep bridging and switch chains all the time. 

Usage of NFTs

Investors and projects should pay attention to the growing non-fungible token (NFT) market, which has a lot of room for growth. Those who buy NFTs will spend $24.9 billion on them in 2021, up from $94.9 million in 2017, says DappRadar. DappRadar looks at data from ten different blockchains to figure out who owns the NFT and where it came from. 

Based on what information is in the data, volume estimates can be very different. Among other things, big auctions of NFT art at auction houses aren’t usually taken into account when collecting the data. NFT platform OpenSea says that sales hit a high point in August.

Then they fell off in September, October, and November before picking up again in December. NFTs are no longer thought of as small businesses. Instead, they are becoming more and more well-known every day. More and more big businesses are looking into and starting businesses in this field, which makes this even more true.

In the beginning, Fantom’s NFT market was still very new. It has a lot of potential, but it is still very new. The Hector Ecosystem is going to do a lot of marketing in order to get new members and bring them into the ecosystem when its own collection comes out.

Hector will also reach one of their main goals, which is to help Fantom Network grow and spread the word about its benefits. This year, the company plans to build an NFT market and start looking into ways to join the DeFi Gaming and Metaverse businesses, as stated in the Roadmap. The fact that it has a collection of NFTs is the first step in this direction! Introduce yourself to the Mythos line of goods. 

The Mythos NFT Collection Launch

The Olympian Museum is dedicated to the Olympian gods, and it has a collection of 16 artworks that are based on Greek mythology. More than 10,000 animated NFTs will be part of the collection. Each one has five unique rarities, and there are more than 10,000 of them. Hector Finance has 16 pieces of art, each of which is unique. 

Beyond the beautiful animations, our main goal is to attract new members, grow the Hector Finance ecosystem, promote the Fantom network, and help our community in any way we can. To make money, a lot of people have put together this collection.

To know more about Hector Finance:

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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