Terra Luna’s empire collapsed overnight. It started with its stablecoin UST showing signs of capital flight. The price of UST has so far been unable to recover, currently at $0.008. And today, we saw stablecoins USDD & USDN also losing their pegs. What is wrong with stablecoin?
In the bear markets, investors like you and me try to protect our savings and investments by parking them in stablecoins. But which of the 85 stablecoins out there, should we trust our life savings with? Is there a robust stablecoin, that we think is worth considering as an alternative to the not-so-stablecoins? Let’s discover more about TOR stablecoin.
What is TOR?
Talking about a stablecoin this is what we expect. A strong peg. Check out Tor in the list of stablecoins on Coingecko. This USD-pegged stablecoin has not at all deviated from its peg in the most extreme market conditions. But what is TOR? How does it maintain its peg?
TOR is the stablecoin of Hector Finance. Unlike UST, TOR is not created depending on its demand, but when its value is not less than 50% of its value in the Curve pool. This way, TOR is prevented from being used to over-create itself so that it is not vulnerable to the same attacks that UST had.
People are wondering about $UST and other stable coins. Let's take a look at the arguments that make one of the #stablecoins safer than $UST#Fantomtalk #Fantom $FTM $HEC $TOR pic.twitter.com/PCZ9nX1Ift
— Fantom Talk (@FantomTalk) May 14, 2022
Therefore, the $TOR stablecoin can only be minted by burning $HEC and offers highly competitive farming rewards.
At the time of writing this article, the market cap of TOR is only $17 million with a 24-hour trading volume of $906,000 and a circulating and total supply of 17 million tokens. Its supply chain is way smaller than UST, which gives it less exposure to possible attacks like UST had.
Also, another secret of the strength of TOR is its treasury, because it can complete the current TOR total supply. Nowadays, the Curve Pool on Fantom is the one that holds the majority of its liquidity. Therefore, with an adjusted minting demand, TOR will have less inflation, where liquidity and the total supply will have a better balance.
On the other hand, Hector Finance not only has TOR. It also has its native token, HEC this deflationary utility token nowadays has $21.5 million in market cap with a total supply of 2.74 million, while HEC has $68.8 million in TVL. You can buy TOR on the Hector finance platform, Spookyswap, or Bitmart.
Daily Top 10 Gainers on #BitMart
🥇 $SST+12810.25% @SWISSSST
🥈 $TOR +900.00% @HectorDAO_HEC
🥉 $WCSOV +819.74% @CSOV_token
Followed by $DCN $ZPTC $FNF $VLX $JAM $PLT $DEVO
🔜Trade:https://t.co/gTZ7VIhpqd#Bitcoin #PublicChain #GameFi #DeFi #NFT #memecoin pic.twitter.com/xC7JWarir6
— BitMart Research (@BitMartResearch) June 13, 2022
About Hector Finance
Hector Finance is a decentralized protocol built on the Fantom Opera Chain and was launched in November 2021 and currently has a treasury of around $70 million.
Therefore, one of their main use cases is that users can stake $HEC. For example, right now, you can stake HEC for 103% APY. To provide this attractive yield, the consensus protocol has demand and supply, where asset purchases and burning strategies creates it. They have not completed the year, and Hector Finance has already launched a:
- DEX (bridging and swapping)
- Lending/borrowing platform.
- Farms in other multi-chain platforms like Beefy and Curve with stablecoins rewards.
- Stable coin payment gateway
Is the #StableCoin panic over?
Because, you know..
There is a nice $TOR/ $USDC/ $DAI Stable farming here!https://t.co/q1m0dsuXF9
Don't forget $TOR is Fully Backed by $HEC Treasury
Happy Farming!#cryptotrading #cryptotwitter #Cryptos #CryptocurrencyNews #crypto pic.twitter.com/lUBiVrnu0I
— Hector Finance (@HectorDAO_HEC) May 18, 2022
Moreover, Hector Finance currently has 35k active addresses. Finally, what makes Hector Finance different is that users can bridge, stake, farm, swap, buy, sell, borrow and lend all on the same platform.
Latest News of Hector Finance and Roadmap
Nowadays, Hector Finance has very important partners like Certik, Spookyswap, Ola Finance, among others.
Also, Hector Finance has partnered with JulWallet, which means that TOR holders will be able to spend their tokens in their JulCard which is accepted by 60 million merchants worldwide.
Excited to annouce that $TOR will be integrated into #JulWallet & #JulCard!
SOON all JulCard members will be able to spend $TOR with 60 MILLION merchants worldwide with our Julcard!
— Okse Wallet & Card (@okse_io) May 20, 2022
On the lending and borrowing platform, Hectorians can now supply and borrow WBTC. Moreover, it’s important to say that Hector Finance is constantly investing its revenues, focusing on long-term assets like BTC, ETH, FTM, NEAR, LINK, among others.
On the other hand, according to the roadmap, these are the most important milestones in Hector Finance:
- Rebranding of Hector
- Tier-1 Exchange Listing
- General Cross Chain Expansion
- Further Partnerships
As you can see, Hector Finance has very exciting features that they’ll launch this year, so stay tuned to their Twitter, and Telegram in the description of this video for its latest news and developments.
Hector Finance is a DAO that has built the reserve currency of Fantom’s ecosystem. Therefore, it has a lot of potentials which is attracting more users because of its secure and easy-to-use protocol. One of the secrets behind is its wide range of social networks like Twitter, Reddit, TikTok, and GitHub, among others.
So, if you are looking for a robust stablecoin, TOR is a very good option for the reasons already described.
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