HIP-019 Creating our own Validators!

Hectorians, today is a momentous day. We have more than 1,000,000 FTM tokens in our treasury, and as such we can set up 2 validator nodes. With a “Yes” on this vote, we will create a validator in Canada and a validator in France, allowing us to strengthen the Fantom network in the two strongholds our Hectorian community has. Both of these validators will also play an important role in our upcoming plans.

Validators help secure the Fantom network - whenever you submit a transaction, a validator confirms it and puts it on the chain. The gas fee you pay goes to the validator for its work.

Therefore, we intend to set up our own validators to help the network grow, and to bring in even more revenue to the Hector Ecosystem.

What will happen to the fees generated?

There are many things we can do with the fees, but here are some of the most sensible ideas:

• We can re-delegate them to the validators. The more FTM a validator holds, the more likely it is to be chosen to perform a transaction, so the more fees it can earn.

• We can use them as TOR rewards and increase reward rates.

• We can stake them into yield bearing protocols.

We’d love to have some community input on what you’d like to see us do with the fees - it’ll be an ongoing discussion, so even after the validators are established please keep the ideas coming in.

So with that being said, we invite you to vote on this proposal.