With the ongoing developments in and around the internet, the world has witnessed many new updates that have led to the overall growth of the internet economy. Software as a service (SaaS) has played a very important role in how the contemporary working model has evolved over the years.
SaaS as we all know is a centrally hosted licensing and delivery model designed to provide licensing to the software on a subscription basis.
As compared to the traditional business model, SaaS is a pre-installed and intrigued application, leading to time effectiveness. Additionally, SaaS offers users with benefits of scalability, integration, cost-efficiency, proof-of-concepts, multiple upgrades, and a lot more.
All this has resulted in SaaS being the attraction point for various developers and businesses. Seeing this ongoing demand for SaaS in the blockchain space, Hector Network has come up with a solution named Hector SaaS Bonding. The latter has been designed to provide a win-win opportunity for all the parties involved along with the entire Fantom community.
Hector Network and its unified solution
Hector Network is developing an expansive Web3 platform specially curated for a visionary future. Its entire ecosystem is supported by the HEC utility token and the TOR stablecoin. Additionally, the platform is known for its functionality, community, and accessibility.
With time and tide, Hector Network has expanded cross-chain and strives towards its core mission of mass adoption. The introduction of Bonding has initiated a powerful mechanism for users to deposit their tokens into the protocol by trading off the discounted tokens distributed somewhere in the future.
The Bonding platform of hector has been fully developed by the Hector Network. This in turn offers an integrated solution to the entire Fantom ecosystem by providing a safe and audited (by Certik) bonding service for both collective projects and individual users.
Hector SaaS Boding and its working module
The partners of the Hector Network being the bonding market issuers will form the base of the Hector SaaS Bonding process. Furthermore, they will also use a bonding infrastructure created by Hector Network to design a bonding market and offer.
The latter will take place in exchange for stablecoins and major non-stables, tokens at a discount that will be locked for a fixed period and then distributed further.
The users who are interested to be part of the bonding have to deposit their single tokens or LPs in exchange for future-dated discounted tokens. Moving forward, the users will be able to claim the released portion of the discounted tokens during the bonding locking period.
Hector SaaS is curated with various features some of them being:
- Multiple token bonding combinations
- Configurable requirements
- ZAP facility
Hector SaaS Bonding will deliver users with increased flexibility who are looking for the following use cases:
- Compiling different types of tokens
- Configuring bonding parameters with the potential for major accepted non-stables
- Opportunity for increased returns
- Easy access to liquidity creation with a ZAP function
Additionally, to provide users with an easy-to-use and frictionless UX, the platform’s Fiat on-Ramp support system is a stand-out feature.
Multiple protocols and the initiation of Bonding rounds
There are various protocols in the Hector Network and all of them are entitled to own a percentage of their utility token. Previously this was the most prevalent within Decentralised Autonomous Organisations (DAOs).
However, as of early 2022, there were nearly 4000+ DAOs, involving protocols deploying inefficient capital and using this to their advantage, in order to boost the protocol’s growth.
While applying SaaS Bonding, the users can achieve this with the help of various features including:
- Platform exposure
- User retention
- Slow down of sales
- POL (Protocol Owned Liquidity)
- Increased utility
In case there is a bear market trend, then the protocol needs to have POL/stable assets in ownership, providing liquidity depth to the users. All this is taken care of just to minimize the risk of the downward death of the utility token.
In simple words, Hector SaaS Bonding will result in projects that will raise liquidity in all market conditions and users will be rewarded through token discounts. The platform’s security and audit system ensures that users can receive maximum benefits from their deposited tokens.
The launch of the Hector Bonding
Initially, the Hector Bonding will be available as a part of the Hector Network’s vision on the Fantom blockchain to lead the Fantom ecosystem to a new DeFi space. After successful implementation on Fantom, the platform also works towards expanding the Hector Bonding on other blockchains.
The launch of Hector SaaS Bonding is scheduled for March 9th with SpookySwap as its first bonding partner. The platform is intended to develop a revolutionary extra utility to bring in more value to the Hector Network with additional benefits for the users, proctors partners, and the overall community.
About Hector Network
Hector Network is an expansive decentralized ecosystem run by two major pillars in the form of a toke including, HEC (a utility token) along with the TOR stablecoin. The company is designed keeping in mind the Web3 arena and its future developments.
By pioneering decentralized offerings ranging from Tokenomics to Defi Gaming, Hector Network strives towards cross-chain expansion, reducing the entry barrier and providing trust-based information. This will result in the mass adoption of this technology.
The platform offers multiple features to its users including bonding and investment, Hector’s treasury, and HEC token which makes it a one-of-a-kind DAO platform. The platform is best known for providing a bridge between the HEC and TOR tokens.
When TOR was first introduced, a small portion of the coins used to mint TOR went to buy back HEC on the open market, which was then burnt, this encouraged HEC into a deflationary token.
The expansion of the Hector Network was all because of reducing the circulating supply of the HEC token. The reduction took place via the minting of TOR and other ways of burning.
While similarly structured DAOs crumbled down the inflating circulating supply and poor market conditions. The Hector Network team on the other hand was able to pivot and continue to expand throughout.
To know more about the Hector Network, visit their official website or follow their Twitter handle.
Disclaimer: This is a paid post and should not be treated as news/advice.