HIP-030 The Hector Finance Emission Plan

Note: Before voting it is ESSENTIAL that you:

Read This https://medium.com/@HectorDAO/the-hector-emission-plan-31f4ea9e56b6

Watch this from 19:20 onwards https://youtu.be/hU3r_K56hi8?t=1161

Last Thursday we unveiled the Hector Finance Emission Plan. Over the last few days we have been discussing the Emission Plan as a community and the Core Team and Mods have been answering all questions related to it. We are now in a position to vote.

Therefore, we propose to begin to create and enact the Hector Finance Emission Plan.

With a yes vote:

• Work will begin on the creation, testing, and auditing of all necessary contracts and systems for the Emission Plan It will take approximately 1.5 months to finalize this and begin the system
• Between now and the start of the emission plan, the APY of staking rewards will be slowly reduced to no lower than 100%. This is because a lower token supply upon the start of the emission plan will allow for greater rewards when the plan begins. It will also reduce inflation and begin to achieve what the Emission Plan is designed to achieve.
• We will give regular updates on the progress of creating and implementing the Emission Plan
• HEC will start on a 2 year path of becoming deflationary forever Buybacks and Burns will continue during the Emission Plan

About the Emission Plan:

• All details can be found here: https://medium.com/@HectorDAO/the-hector-emission-plan-31f4ea9e56b6 https://youtu.be/hU3r_K56hi8?t=1161

Summary of the article above:

• A finite supply cap of HEC will be established

• The Emission Plan consists of 13 periods of 8 weeks (2 years) over which HEC tokens will be minted and distributed, with inflation reducing at each period at predetermined, predictable rates. This will reduce inflation and lift the artificial price ceiling of the HEC token.

• Users will still be able to stake normally during the 2 year plan

• Users will be able to lock their tokens in farms which will give boosted rewards. Longer locks will have larger rewards.

• Since the Emission Plan parameters such as total supply cap, reward rate, and emission rate will depend upon the number of circulating tokens at the time of implementation, exact parameters cannot be given at this stage

• However, at this moment it is fair to assume a starting range of between 100 and 200% is very likely

Vote Below: