Hector Network - Announcements
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A deflationary utility project supporting a financial centre for cryptocurrency, developing a wide range of use cases to bring real value to users.
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wsHEC would disappear from our ecosystem
This was a direct correlation and result of the Normal Staking farm impacts, as wsHEC depends on sHEC. The new staking contract however, retained the existing sHEC and wsHEC contracts ensuring that they work as originally intended.

Wrapped Version of the EP
After the release of the Emission Plan we had multiple messages regarding a wrapped version of the EP with regard to tax purposes. We are taking these requests in consideration and are in discussions with our Development Team.

Voting System
The voting system was incredibly complicated to manage between the FNFT, moving APR, and HEC. We tried to create as much flexibility as possible and inadvertently created a voting issue by enabling HEC, which proved to be unfair as an addition and inaccurate in calculation. We also had some usability issues that were raised about "missing FNFT's" which were not available in the drop down despite being locked. We corrected the calculations, removed HEC as an option to vote and expanded the UI to be more informative of the FNFT's in locked voting periods.

Manually Claim of Rewards
Another thing that has been developed slightly differently from the original plan has been the claiming of the rewards. The original scope for the Emission Plan was that no rewards could be claimed until the end of a user’s lock period. Now, as you surely know, users can withdraw their rewards at any time throughout their lock..
We strongly believe that this “new system” will help HEC in the long-term. This feature allows users the security of a longer lock, since some tokens will be readily available throughout their lock. a

The Calculator
The calculator uses a complex set of variables that were unfortunately miscommunicated and misconfigured with the wrong token price (in the HEC-USDC farm) and insufficient explanation to its use case was provided during its roll out. Depending on how a user approached the calculator it had the potential to drastically change the perceived reward outcome of their linear lock. Unlike the old system, where the token price and current APY had offered a linear path for reward prediction, the Emission Plan’s complex fluctuation is based on multiple variables such as token price, current APR, how much is locked into each farm, and how votes are distributed. While the calculator was only ever intended to give users a rough idea to help understand the process better, it was rolled out with insufficient education and disclaimers, causing confusion.
Further, diligent users discovered an actual inconsistency with the calculations as a whole.
After a few hours of discussing and researching, we identified the mistake. After creating the HEC-USDC farm contract, the wrong PricePerToken (it used the HEC price) was used in the calculations, which then sorted in a way to where it was too high APR for the HEC-USDC farm.
While investigating these issues we also discovered some incorrect coding in the calculators, which was why there was how the wrong reward amount was calculated in both farms if a particular amount of HEC was set to be locked.
To be clear, the contracts work exactly as they should, the bad news is that incorrect information was displayed on the Emission page for several days regarding the APR (on the HEC-USDC Farm) and the calculators (for both farms).
We addressed all 3 faults by correcting the PricePerToken, the APR and a more informative message on the dApp.

Zap Function
Due to an internal misunderstanding, the Zap function was released prematurely. Despite the feature being thoroughly tested and working correctly, it was released with the incorrect liquidity pair (wFTM-USDC) which had very low liquidity.
As a result, the swap slippage was very high. We have since removed Zapfrom the dApp, corrected the liquidity pair, refunded the impacted users in full, put it back into testing and refined the internal release and unit testing process.
In addition to the short-term changes and measures that we have implemented as quickly as possible, we will also implement measures that ensure and further expand our long-term stability. Among others:


Restructuring the Development Team
We have taken every single situation that has come up and addressed it as quickly as possible for the community. We acknowledge all the shortcomings in the process, delivery and impacts they caused. We have taken a very serious stance, conducted a GAP analysis and adjusted, expanded, improved or modified our internal dev, unit testing and QA processes significantly. Additionally, we’ve introduced a gated release management process accompanied by multiple sign offs with resource accountability across multiple tiers to ensure we aggressively reduce the amounts of bugs released with releases that impacts the community.
We have further taken drastic steps to adjust, restructure and expand our team to fill the gaps that significantly contributed to long hours and unfortunate oversight in code quality checks, PR reviews, and overall impacts in the existing processes. These changes will slow releases but enhance quality, usability and limit future impacts as much as possible.

Establish a Board Structure
In the wake of Hip 37 several community members suggested implementing some oversight measures to further increase our transparency and allow decisions to be discussed very early. After considering these suggestions thoroughly we agree that formalizing an “oversight” board in conjunction with all the additional reports we’re committed to providing does nothing but strengthen the project. In addition to the Core Team, the Head of Development, Artistic Director, Team/Community Manager, a representative of the moderators and an Oracle will be represented. How these additional representatives will be selected is TBA.

Continue with Transparency
Our weekly recaps, which have been established for several months are a regular commitment to highlight current developments to the community. In addition, we have now also released the first monthly report, which provides detailed insights into the project and its figures. If you haven't seen it yet, here is the link again:
https://drive.google.com/file/d/1KRpWQaS94QM7K5P7tK0eyz4Z7qAToxlU/view
Transparency is the only way forward and it is our ambition to continue to expand and strengthen the communication with the community. To this end, we will now also implement regular AMAs with the core team to answer questions and provide insights into current developments.


We still believe that this is the right time to build. Our roadmap is unchanged, and development for the next 6 months continues as planned. We will continue our goal of delivering utility and value to our users. Innovating on the blockchain and making use of our solid foundation. As always it is our privilege to work for this company and behalf of our community.
Hello Hectorians!

The dawn of a new season looms over the horizon, teams and games will never be the same, so come join us and make yourself known by winning part of our $350 TOR prize pool in Saturday's Game Night! All it takes is Twitch chat access and good vibes! :)

🌐 http://twitch.tv/hectornetwork
Hectorians!

The ZAP Function has just been integrated into the HEC-USDC farm of the Emission Plan!

From now on you can create the HEC-USDC LP just using one of the two required tokens (either HEC or USDC). The ZAP function will automatically convert half of your tokens into the other one, creating then the requested LP!

Wish you a good day!
Hectorians, have you voted?

With your FNFT you can vote for your favourite lock farm and influence the percentage of rewards to the farms you vote on.

All the votes collected in one period will greatly affect the reward percentage in the next period, so, before the "Next Reward Distribution" countdown timer expires (visible on the voting page), vote for your farm and influence your rewards.

Vote here 👉 https://app.hector.network/voting
Hello Hectorians!

Let's welcome the week with some games, memes, and of course $150 TOR looking to find a new home!

Join us live on Twitch for a chance to win!

🌐 http://twitch.tv/hectornetwork
Hectorians!

What happened last week at Hector Network?

Read our weekly recap here 👇

🌐 http://ow.ly/eaYk50LLKnv
⚽️ Matchday! ⚽️

🖤💛 Our champions are back on the ground today!

BVB ⚫️🟡 BlackYellow

Let's go! 🚀🚀🚀 Hectorians are with you! 🖤💛

We are sure our ticket giveaway winners will see an exciting match! 🤩

$HEC $TOR
Hello Hectorians!

It's Thanksgiving weekend so why not gather your Hectorian friends and family together for a Game Night to celebrate?

There's $350 TOR to be won and shared, action and intrigue to spare, and best of all bragging rights to be settled.

Join us on Twitch this Saturday!

🌐 http://twitch.tv/hectornetwork
⚽️ Matchday! ⚽️

BVB 🖤💛 BlackYellow

The Hectorians are rooting for you! 🖤💛

We are sure our ticket giveaway winners will see an exciting match!

$HEC $TOR
Hectorians, have you voted?

With your FNFT you can vote for your favourite lock farm and influence the percentage of rewards to the farm you vote on.

All the votes collected in one period will greatly affect the reward percentage in the next period, so, before the "Next Reward Distribution" countdown timer expires (visible on the voting page), vote for your farm and influence your rewards.

Vote here 👉 https://app.hector.network/voting
Hello Hectorians!

We're back again with a special surprise for all the racers out there!

Join us live this Wednesday at 23:00 UTC for games, fun and prizes!

🌐 http://twitch.tv/hectornetwork
⚽️ Matchday! ⚽️

BVB 🖤💛 BlackYellow

Have fun, play hard! Hectorians are with you! 🖤💛

We are sure our ticket giveaway winners will see an exciting match! 🤩

$HEC $TOR
Hello Hectorians!

We've made it back to the holidays so let's spread some good vibes by coming together and gaming for fun and prizes!

Join us this Saturday at 20:00 UTC on Twitch!

🌐 http://twitch.tv/hectornetwork
Hectorians!

What happened last week at Hector Network?

Read our weekly recap here 👇

🌐 http://ow.ly/S0Cg50LUjAr
Hectorians!

We are very happy to announce our new blog section today:

🌐 https://hector.network/blog/

Here you will find daily news about Blockchain, NFTs and DeFi.
Hectorians, have you voted?

With your FNFT you can vote for your favourite lock farm and influence the percentage of rewards to the farm you vote on.

All the votes collected in one period will greatly affect the reward percentage in the next period, so, before the "Next Reward Distribution" countdown timer expires (visible on the voting page), vote for your farm and influence your rewards.

Vote here 👉 https://app.hector.network/voting
Win 2 VIP tickets for the event "Dortmund singt" at Signal Iduna Park!

On the third Advent, Dortmund sings Christmas carols again at the Signal Iduna Park. The BVB Christmas Singing is back from its corona break!

Sasha, Alexander Klaws, Tom Gaebel and Jo Marie Dominiak have already agreed to sing Christmas carols on the festive stage together with BVB fans.

A little look back: At the last edition in 2019 to date, around 68,000 people visitors came to the Signal Iduna Park in Dortmund to sing Christmas carols together and spend a reflective afternoon to evening.

When?

On December 11, 2022
Admission from 14:00 CET
Start at 16:30 CET

To participate check this tweet and complete the tasks:

🌐 http://ow.ly/LToH50LWNzn
Hectorians!

Hector Network has partnered with Liquid Driver and Hector Network’s Farms are now available in Shadow Farms:

$FTM - $TOR 👉 210% APY
$FTM - $wsHEC 👉 434% APY

$xBOO rewards are compounded in the most profitable way and $LQDR has been added as a dual reward for a 7 day period! 🤩

🌐 https://www.liquiddriver.finance/shadow
Hello Hectorians!

Game Night is back and better than ever!

We've got races to run and world records to beat, so join us this Wednesday at 23:00 UTC on our Twitch to be a part of it all!

🌐 http://twitch.tv/hectornetwork