Deploying Fuse technologies on the Fantom Opera Chain with Hector DAO

Hello Rari community. This is Prometheus, Co-Founder and Strategy Lead at Hector DAO.

After agreeing a deal with the Rari Capital team, confirming the deal in a Hector DAO community vote, and finalising details, it is now my honour to seek the blessing of the Rari community in a final vote to implement our proposal.

The terms of the proposal are listed at the bottom of this post.

The following is excerpted and adapted from our original post on the Rari forums: https://forums.rari.capital/d/188-deploying-fuse-on-the-fantom-opera-chain-with-hector-dao

I've removed a few paragraphs here to keep it concise. I recommend reading the original post in full.

Hector DAO is the largest rebase protocol on the Fantom network. Our market capitalisation is approximately $112,000,000, and we have $192,000,000 of value locked in our protocol. Here is a link to our DeFiLlama profile: https://defillama.com/protocol/hector-dao

In the month of November, we were the most traded project on the Fantom network, with a volume of $612,000,000, surpassing even SpookySwap - one of the main decentralised exchanges of the network. We employ a full-time team of 10+ developers and strategists which allows us to develop our project faster than any competitor on the chain.

Hector will integrate an open interest rate protocol that allows users to lend and borrow digital assets, all within the Hector Ecosystem. Lenders can achieve an attractive APY without any risk of volatility of the HEC price by lending out stable coins. Borrowers can use sHEC as a collateral to leverage their position or borrow stablecoins to use them in different projects without having to unstake sHEC. The benefit for the protocol is that the treasury collects fees, consisting of the difference between APR for borrowers and APY for lenders. This way, the treasury increases, which in return has a positive impact on Hector’s APY. The Lending and borrowing protocol will come with it’s own UI.

Creating positive, impactful partnerships and relationships such as this are at the forefront of our priorities - cooperation is good for everyone. We want to contribute to the growth of the Fantom network. We focus on long-term growth and it is our stated aim to bring value to our users and investors in a reliable, responsible way. We aim to become a de facto financial centre within the Fantom chain.

We believe that future cooperation between Rari Capital and Hector is mutually beneficial and will align with the goals of both parties in a meaningful way.

Prometheus, Strategy lead at Team HECDAO.

THE PROPOSAL The terms agreed upon between the Rari Capital and Hector DAO Teams are as follows:

• $500,000 in HEC tokens to be vested to Rari Capital. The vesting schedule will monthly for a total of 6 months.
• 30% of revenue from products on Hector Bank which use Fuse technologies to be given to Rari Capital

In exchange, Hector DAO will receive access to and support with the required Fuse contracts in order to develop part of the Hector Bank solution.