Hector Network Year End Review

At the start of each year, crypto projects release roadmaps that highlight plans they hope to achieve at the end of the year. However, the bear market took every project by surprise and very few could completely follow through with their plans in 2022.

Some projects were forced to shutdown or abandon some roll outs and updates. However, others like Hector Network strived to give their community a good year. Hector has quickly built a solid presence in the decentralized finance market.

Hector is an expansive DeFi ecosystem that runs on the utility token, HEC and the TOR stablecoin. The project aims to push the web3 agenda by offering decentralized products including an NFT marketplace, collections and tokens like a stablecoin.

Hector has begun a cross-chain expansion from Fantom to the BNB Chain. It also has a couple of applications and products that set it apart from most of its competitors. The project’s biggest strength lies in its cooperation with its community and an eye for spotting opportunities in the market.

Now, let’s look at how Hector has performed over the last couple of months and what it’s currently up to.

November 2021 to January 2022 Updates

Hector Network launched as Hector DAO on November 1 and that month set the pace for the rest of the project’s development. Hector DAO was initially a fork of the Olympus DAO but Hector later crafted its path and uniqueness.

That same month, Hector released its roadmap and whitepaper as well as a couple of partnerships. It also launched 3,3 and 4,4 bonds and implemented multi-signature authentication. Additionally, community members voted on the first proposals, the listings of $HEC on exchanges.

Hector launched its farm, pools, and Hector Merch store in December 2021 and the Hector Charity Fund. In January 2022, Hector’s roadmap included launching several key subprojects and the Hector Institute was the first. The institute is a decentralized borrowing and lending protocol built on the Fantom Opera chain. This launch was part of the project’s plans to become deflationary.

CertiK also audited Hector’s contracts, a move that reflected its values and security priorities.

February, March, and April 2022

Hector introduced the TOR stablecoin in February 2022. TOR is an ERC2O token and lays the groundwork for Hector’s growth. TOR is also pegged at $1, making it a good option in the stablecoin market. It’s backed 1:1 with DAI.

Hector had other community engagements in February 2022 and in March took things a notch higher with new $HEC and $TOR listings. Other core activities took place in March including setting up an OTC, setting up an investment board, and launching the Hector DEX and the Mythos NFT collection.

Despite the bear market, Hector welcomed a couple of new investments in April and New farms. The entire ecosystem grew as a result of a couple of conferences and exposures.

May, June, and July Updates

Hector’s exposure continued in May after community leaders MayoMyke and Frizey showcased the platform to a blockchain audience of over 2000. Hector’s vaults were also added to Beefy in May. Hector also teamed up with Julwallet which allows users to perform activities like bridging and staking in one place.

In June, Hector took huge steps toward cross-chain expansion. Hector became available on the BNB Chain and both $HEC and $TOR were added on ApeSwap. Both $HEC and $TOR had their logos on Trust Wallet that same month.

July saw Hector Network expand its presence on Fantom and the BNB Chain. First, Hector’s farms and pools became available on ApeSwap. Secondly, $HEC and $TOR were listed on PancakeSwap. These were crucial upgrades for the network.

Hector also undertook massive brand changes and became known as Hector Network instead of Hector Finance. Hector also launched a new whitepaper as well as a website upgrade.

August -December Updates

August was Hector’s month of partnerships. The platform spilled its influence to the sporting world, striking a partnership with German soccer team Borussia Dortmund. Hector had partnerships with the likes of,

  • Cwallet,
  • Stader,
  • indu4.0,
  • PayBolt.

Hector continued its expansion in September with a couple of in-house engagements. In October, the DeFi platform announced that its Emission plans had gone live. Hector also announced a major milestone in October. The $HEC token was listed on the Bitfinex exchange. Hector also got verified on CoinmarketCap. This was a huge boost in terms of exposure.

Hector marked its first anniversary in November with a couple of events. The project had clearly witnessed impressive growth since its debut.

What’s going on now?

With the new year just a couple of weeks old, Hector has continued its massive expansion plans. And from past experience, the team seems focused on achieving the plans outlined in its roadmap.

One of the core offerings to expect in Q1 2023 is the launch of the Atlantica NFT marketplace. NFTs are a big part of Hector’s vision and this marketplace will give both NFT users and creators an unprecedented chance to relate with NFTs.

The NFT marketplace will have a relatable UI. While the team has not announced an official date, the Atlantica launch is one to look out for.

According to Coinmarketcap, Hector currently trades at $3.14.

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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Hector Network. Copyright Altcoin Buzz Pte Ltd

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