By now I'm sure you guys have got a good idea about how DAOs work. I have posted a pretty simple explanation of OLYMPUS DAO(OHM) so, if you haven't read that then go on read that first by clicking on the link.

Before starting let's get one thing clear first,i.e., olympus forks. When you see mega projects like olympus with out of the box concept, forks/clones emerge to piggyback on its success. A fork of Olympus DAO (OHM) is generally considered to be simply a clone of OHM on another Layer-1 blockchain or on Ethereum. Forks are designed to take away market share and dominance of an existing project.

While HECTOR DAO claims to be different from other forks by using fancy words like calling themselves "spoon of Olympus DAO", I would rather call them just another fork. So, why would you wanna be interested in a clone when OHM is already out there? Although its roots trace back to OLYMPUS, Hector has actually made significant upgrades and has pretty big plans for this year.

HECTOR has revolutionized bonding and staking work through (4,4). It's pretty much similar to HYPERBONDING (if you haven't read my post on hyperbonding then click on the link and then the next paragraph will make more sense to you).

Normally, when you buy a bond you can claim and stake it anytime you want once a part of the bond is vested. While this is good, 4,4 is better because 4,4 auto-stakes your bond before you can even claim it! This way you are earning interest from bonding and staking combined.

4,4 is basically autostaking the bonded hector. 4,4 differentiates Hector as no other OHM fork, including OHM itself, has 4,4(although you can do it manually by hyperbonding in other forks like $TIME). Check out all 4,4 bonds here:

HOW DOES THE TREASURY INCREASES?

Hector DAO is currently building and launching Hector Bank this month; an open interest rate protocol that allows users to lend and borrow digital assets, all within the Hector Ecosystem and unique on Fantom(giving competition to defi platforms).

Lenders can achieve an attractive APY without any risk of volatility of the HEC price by lending out stable coins(Lenders aren'taffected by price volatility). Borrowers can use sHEC (+wsHEC){don't worry I've explained sHEC and wsHEC below) 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.

Although I have explained Bonding and staking very clearly in my post on OHM but I'm still gonna explain again for lazy peeps here.

On staking your HEC, you receive an equal amount of sHEC (staked HEC). Rewards are paid out in sHEC approximately every 8 hours (note: this is based upon block time and not clock time, so it can vary slightly). When you want to unstake your sHEC, simply hit approve unstake > unstake, and your funds will be unstaked and automatically converted back into HEC.(sHEC and HEC are 1:1)
Rewards are generated through the minting of HEC and fluctuate based on price volatility, and treasury inflows. (there must be at least $1 in the treasury for 1 HEC to be minted)
The protocol offers staking rewards because when you stake your HEC, you aren’t trading it, which causes less price volatility and helps HEC maintain a stable price, similar like OHM rebasing except you don't get $HEC but another token $sHEC whose price is same as $HEC.

Bonding is the process of giving LP tokens or an accepted currency to the protocol in exchange for HEC at a discounted price. (Suppose you bought $200 worth of HEC and bonded it. So, after the bond matures, typically after 5 days, you'llget discount for example 5%. If $HEC is of $50 right now then you'llbe able to buy it at 5% lesser price i,l.e., you'll get 1 hec for $45 now).

There are two types of bonds: 4,4 and 1,1.

4,4 bonds are paid in sHEC, which means your HEC is automatically staked and earning interest for you in addition to the bond discount from the second you buy the bond.

1,1 bonds which pay in HEC require you to manually claim and stake to earn interest from staking i.e., hyperbonding.

4,4 bonds are locked up for 4 days with no part of the bond being claimable until the 4 day period ends, and 1,1 bonds vest 20% a day with the vested portion of the bond being claimable at any time.

LP bonds help Hector own its liquidity as a contract ends up holding the vast majority of the LP tokens. The contract address doesn’t remove liquidity, which guarantees constant liquidity for HEC.LP bonds also provide the treasury with a new revenue stream — LP bond fees, these fees are deposited into the treasury.

Regular bonds are used to directly fund the treasury, you are simply exchanging one currency for another, the only difference being that since you buy it from the protocol itself, you receive a discounted price.All the money that goes into the treasury is used to back HEC. The backing per HEC can be calculated by dividing treasury value/ circulating supply.

HEC is a reserve currency asset that is backed by a basket of assets.(DAI, FRAX, WFTM, USDC etc) If the price of HEC were to drop below the backing per HEC(check out next post to understand backing per HEC), the protocol would automatically buy back tokens and burn them until the price of HEC is above the backing per HEC(that is like OHM's 2nd buoyancy aid, the protocol will keep the price above once it goes below backing price).

wsHEC is sHEC that is wrapped(wrapped sHEC). wsHEC offers tax benefits to individuals in certain countries as well as utilization for HEC to be used in applications such as Hector Bank (releasing this January).

wsHEC price is determined by multiplying the index by the price of HEC. By holding wsHEC, you are holding sHEC that offers tax benefits and other utilization benefits. Since the price of wsHEC is: index* HEC’s price, wsHEC earns all staking rewards as its price moves as if your HEC was staked.

For e.g: HEC is worth 60$ and the index is 2 then One wsHEC is worth 120$. And suppose you unwrap wsHEC at $180, and HEC’s price is still $60 but the index is 3(60*3) so you will receive 3 HEC.

In the next post I'll be telling you some big announcements about the project. Leaving you guys with this link on

how to buy HEC?