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Hector Network (HEC) is the 1215th largest cryptocurrency in the world by market cap, valued at $5,825,952. The current price of Hector Network is $2.4, which is -1.276% lower than yesterday. Prices have ranged between $2.43 and $2.39 over the past 24 hours. All prices are listed in US dollars and accurate as of April 01, 2023 02:04 UTC.
Hector Finance is an innovative decentralized finance (DeFi) ecosystem composed of a range of products and services. Built on the Fantom Opera blockchain, the Hector Finance project aims to become the go-to financial centre within the Fantom ecosystem.
As a result of its expansive vision, the project is composed of several subprojects which include the TOR stablecoin, Hector Bank, Hector Cross Chain DEX, and Hector Validators.
According to the project’s website, the TOR stablecoin is a US dollar pegged stablecoin that is backed by both algorithms and the project’s treasury. The Hector Bank is a decentralized lending and borrowing platform. The Hector Cross Chain DEX allows users to swap any cryptocurrency as if they were native to the Fantom blockchain. Finally, Hector Validators are validator nodes within the Fantom blockchain. These nodes can be utilised by all those that wish to stake FTM coins. All Hector Finance subprojects are managed through a decentralized autonomous organization (DAO), which is responsible for voting on new proposals and managing the treasury. The treasury is crucial to several aspects of the Hector Finance ecosystem, including maintaining the deflationary pressure of the HEC token, maintaining the peg of the TOR stablecoin, and generating profit from cryptocurrency investments.
HEC is the native cryptocurrency of the Hector Finance project. HEC is required to access the native TOR stablecoin and is responsible for maintaining the backbone of the Hector Finance economy.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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