Recap AMA Session Hector DAO X ZTH Crypto
Thanks you Hector DAO for Ask Me Anything (AMA) in ZTHCrypto , 7th January 2022. Best Speaker Prometheus (Co-Founder)
Let’s go ZTH x Hector DAO AMA get started❗️
⚠️ Don’t Panic! You are not in ban chat is muted for 𝗔𝗠𝗔.
During the 𝗔𝗠𝗔, we will often close the chat feature to smooth the question and answer session.
— 𝗦𝗲𝗴𝗺𝗲𝗻𝘁 1: Introduction
— 𝗦𝗲𝗴𝗺𝗲𝗻𝘁 2: Twitter Question, Team will choose 5 Question on Twitter.
— 𝗦𝗲𝗴𝗺𝗲𝗻𝘁 3: Live 𝗔𝗠𝗔, In last selection, We open a chat in our group so that the community can ask questions directly. Our guests then select and answer the 5 best questions in it.
🎁 Total rewards quantity will be $100, have fun!
Segment 1 : Introduction
WHALERUSH | ZTH Team : Hello everyone and welcome to Zero to Hero Crypto , Thanks for taking the time for today’s AMA session!
We will host AMA today !! hello Prometheus $HEC
Prometheus $HEC : Hello! Thanks for having me 🙂
WHALERUSH | ZTH Team : How are you feel today ?
Prometheus $HEC : I’m great thanks! The weather is awful here in the U.K. but we’re used to it 😂 How are you?
WHALERUSH | ZTH Team : hahaha , i fine
So let’s move to segment 1
Can you introduce yourself to the community? What is your background and how did you Hector DAO build ?
Prometheus $HEC : Sure 🙂
I’m Prometheus. I’m one of the cofounders of Hector DAO. I’ve been working with computers my whole life. I used to take them apart and put them back together when I was very young and then I gradually moved onto coding. I arrived in the crypto scene towards the end of the last bear market and fell in love with it. We started Hector DAO in November last year and it’s been a huge success so far.
WHALERUSH | ZTH Team : Good story xD
Next ! What is the use-case of the Hector DAO ?
Prometheus $HEC : Well we started as a fork of Olympus but we’re moving towards utility this year. Since November we’ve gained a market cap of $165m and a treasury of $100m.
This year we’re really leaning into creating utility from the token. We’re making a lending and borrowing platform which will launch this month, a DeFi game which uses NFTs for utility, a launchpad to help new Fantom projects start, a swapping protocol to help us become multi-chain, an education programme to help people learn about Crypto in a safe environment, and payment system to allow people to use their crypto balance to make real-world payments. We’re ambitious to say the least.
To do this we’re rapidly expanding our team. We have a budget of more than $7m this year and we aim to hire around 40 people to manage all the products and services we’re making.
WHALERUSH | ZTH Team : sound good 👀
Prometheus $HEC, [07.01.22 20:11]
forgot to do the thumb! sorry!
WHALERUSH | ZTH Team : What killer features has Hector DAO that are ahead of the competition ?
Prometheus $HEC : Besides our enormous treasury ($100,000,000), we have an incredibly strong team. I have the privilege of working with some of the most talented people I’ve ever known. Take our marketing team for example — thanks to them we’ve been the most discussed fantom project on twitter for a while now. This momentum will not slow down any time soon.
WHALERUSH | ZTH Team : Trust and security is very important in any business , what makes investors , customer and users safe secure when working with Hector DAO ?
Prometheus $HEC : I absolutely agree.
We’ve taken a number of measures:
- We use multisig wallets. This means that no single person can do anything involving the protocol or funds without having a group consensus.
- We’re being audited by Certik who are one of the best and most respected auditing firms in the crypto space.
- Obviously our LP is also locked too.
- We also run regular code reviews to make sure that what we produce is safe, efficient, and scalable.
Every decision we make is for the good of the community and the project.
WHALERUSH | ZTH Team : very safe 🥳
Can you tell me good reasons that Hector DAO is here for the long run and has a real utility that will increase the demand for the token in the future?
Prometheus $HEC : A lot of the revenues we will create are going to be used to burn the token supply. This means that it will become deflationary whilst still offering rewards for holding. We think this will set us apart and turn the ecosystem around Hector into something truly special. We have the funding to continue developing for years to come and we’re excited to continue that journey.
For reference, we’re making a lending and borrowing platform which will launch this month, a DeFi game which uses NFTs for utility, a launchpad to help new Fantom projects start, a swapping protocol to help us become multi-chain, an education programme to help people learn about Crypto in a safe environment, and payment system to allow people to use their crypto balance to make real-world payments.
WHALERUSH | ZTH Team : be a positive value Hector DAO ! educate crypto newbie 👀
Next ! What are the major plans ahead?
Prometheus $HEC : Our main focus right now is scaling. We saw meteoric success last year. We now have an amazing path ahead of us full of value and utility. But we have to be responsible. Certain issues can’t be solved just by throwing money at them — you also need to hire the right people and maintain a strong team dynamic. The first few weeks of this year will focus on that. We’re establish systems which will help us stay efficient whilst also making sure that every member of the team feels valued. And that goes for all of our usecases too. It’s going to be a great year.
WHALERUSH | ZTH Team : What marketing strategies has the team decided to use to spread awareness and promote growth and use of Hector DAO ?
Prometheus $HEC : Our marketing team is incredible. We create strong partnerships with marketing groups which allows us to maintain access to their audiences and become a familiar face. This in my opinion is just as important as expansionary marketing. I think it’s something that has set us apart in a major way — we’re almost always the most trending ftm project on twitter.
WHALERUSH | ZTH Team : Lastly Does the team have a roadmap in place ? and if so , how has it been kept up with so far ?
Prometheus $HEC : Yes!
We’ve managed to hit about 90% of our targets within their timeframes. Obviously this year things will become more complicated with out developments but I’m very confident we can manage it 🙂
WHALERUSH | ZTH Team : Great thank you for answering questions from segment 1
Some introductory question have already been answered and we will enter segment 2 and 5 best question comes from the twitter.
Segment 2 : Twitter Question
Q1 : There are three core issues in encryption and blockchain technology, namely security, interoperability and scalability. How does Hector DAO overcome these problems?
Prometheus $HEC :
- LP lock
- Multisignature Authentication
- Certik Audits
- we’ve established a “Crosschain” team to make sure that we can manage our offerings and services on multiple chains!
- We have a massive amount of funding to hire the right people for the job. We plan to expand to about 40 people this year alone. We’re also implementing best CI/CD practices to make sure we can scale our developments as efficiently as we can.
Q2 : Is your project recommended by an existing big project or influencer or do you even have a great partner Who fully Supports this project?As an individual USER & a developer I’m interested in contributing to your project along sides earning, Do you have any Bug Bounty program.?
Prometheus $HEC :
We have some amazing partnerships:
- Yoshi Exchange
But in 2022 we’re pushing some incredibly exciting partnerships with some of the biggest and most well-known projects in the entire crypto space, so keep an eye out.
Bug bounties — we are exploring the idea and have had multiple organisations reach out to us about it.
Q3 : Nearly 80% of investors only focus on short-term token price instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your tokens in the long term?
Prometheus $HEC : We always reiterate that Hector is a long term project. I personally plan to be working on Hector for years to come. I think it’s a matter of personal investment goals. Either option is okay, but I personally feel that there is significantly more to be gained by thinking long term. Not financial advice 😂
Q4 : In the world cryptocurrency competition, features are of the utmost importance to attract investors and the community! Can you provide a list of killer features that scare your competitors over your project?
Prometheus $HEC :
I’d love to:
- Hector Rebase
- Hector Bank
- Hector NFT
- Hector Game
- Hector Launch
- Hector Swap
- Hector University
- Hector Pay
All of this can be found in detail here: https://medium.com/@HectorDAO/hip-010-hector-daos-2022-master-plan-and-budgeting-eba234bf3756
Q5 : What are the top priorities for the project this year, what does the team plans to do for the development of the project and what is the main vision and goal?
Prometheus $HEC :
Scaling is the top priority.
Under the umbrella of scaling we have our subprojects as mentioned above ^
The main goal is to become a financial powerhouse in the FTM chain and beyond. We have the funding, we have the team, we have the partnerships, and we have the community. 2022 is ours.
Q6 : Do the token holders have right to the participate in the governance of the project? On what kind of decisions can they vote on about the project
Prometheus $HEC : Absolutely!
Anyone who holds any of our tokens (HEC, sHEC, wsHEC) can vote on parameter changes, investment initiatives, and charity work!
Here’s a link to our governance documentation and snapshot votes:
WHALERUSH | ZTH Team : Question on segment 2 have been answered, It’s wonderful thank you!
We will continue segment 3 ❗️
Everyone please prepare your questions, chat will be opened for Telegram Segment
Segment 3 : Live AMA Session
Q1 : Do you not intend to migrate to another network?if you are migrating network then which network will you choose?
Prometheus $HEC : This one! There are no migration plans but we are planning to expand to multiple chains like ETH, SOL, POL etc. We’ve set up a crosschain team specifically to handle this 🙂
Q2 : Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry?
Prometheus $HEC : We’ve already done a significant amount to gain the resources we need to continue developing. We have $100,000,000 of funding, so we’re definitely not in the same position as most startups are 😉
Q3 : How secure is your system on smart contracts? is your project fully decentralized?
Prometheus $HEC : We’re being audited by Certik so we’re going to be extremely secure. We’re decentralised in that there is no “owner” per se. The community votes on a lot of changes etc, but we also have a core development team 🙂
Q4 : Can you tell us a bit more specifically on exactly what value you’ll bring, and how you’ll achieve it, and the long-term effects?
Prometheus $HEC : We wrote an article specifically about this! 🙂https://medium.com/@HectorDAO/hip-010-hector-daos-2022-master-plan-and-budgeting-eba234bf3756
WHALERUSH | ZTH Team : Thank you for the AMA Session in our community ! AMA SESSION OVERRR