The Hector Stablecoin will play a major part in the Hector DAO Ecosystem, as announced in our 2022 Master Plan.
We currently see 2 major usecases for our very own Stablecoin:
- Increases deflation of $HEC by burning huge amounts of HEC through at least two identified value loops. This will help reverse inflation and bring us towards the Inflection Point (the moment at which a similar number of tokens are minted and burned). The Hector Stablecoin will also drive HEC demand up, and increase bonding inflows, all whilst simultaneously providing users with stakable stablecoins which offer highly competitive APR/APY rewards.
- The Hector Stablecoin will be key for the development of Hector Pay, and will be the currency used for payments with the lowest transaction fees. The Hector Pay project aims to create a payment system wherein users will be able to send and receive crypto assets to and from friends and family across multiple networks. Users will also be able to pay for real-world items using Crypto balances.
Our developers are currently running tests day and night, and we will soon run a small, controlled, community trial.
Now: not unimportant. The name. We have asked for suggestions, and our community came up with hundreds of names. We love you. We kindly ask you to decide on the name of the Hector Stablecoin, while taking the two most prominent use cases as laid out above into account.
- HUGS - $HUGS ("Can I pay with $HUGS?")
- HELEN - $HLN ( from Helen of Troy)
- DRACHMA - $DRAC (the currency used in ancient Greece)
- USDH - $USDH (boring, but more recognizable)