HIP-003 HEC allocation for yield farming wsHEC-DAI + xBOO pool on Spookyswap

After introducing Wrapped Staked Hector (wsHEC) yesterday, we already hinted that multiple usecases for wsHEC would soon be presented to our community.

What is wsHEC? The wsHEC token is, in short, wrapped staked HEC, a standard ERC20 token with accumulation of the rebase value of HEC, without rebasing. Users get all the rebase benefits when they unwrap wsHEC back to sHEC. wsHEC carries all the HEC value as well as the rebasing value. When you wrap, you automatically receive rebase rewards without ever going to the staking page of Hector.

We plan to partner up with our friends from Spookyswap for:

1. Farm: a wsHEC-DAI pool that will have 0.8x BOO rewards for the first 48 hours and then 0.4x BOO rewards after that. Spookyswap incentivizes our pool so Hectorians will earn both rebase rewards + BOO farming rewards! 2: xBOO pool: stake xBOO tokens to earn HEC (60 days). This is great to attract more Hectorians!

Spookyswap's community will vote on this matter on Thursday for the farm and xBOO pool to go live Friday.

The Hector team proposes:

To approve 120K $ worth of HEC (approx ~ 545 HEC) from Hector DAO to enable both pools on Spookyswap. The DAO currently owns ~27K HEC.