Hector Finance is nearing the completion of its cross-chain decentralized exchange (DEX) in partnership with the Rubic exchange, which will allow users to swap between tokens on multiple networks in a single click. The team has said it believes chain-agnostic projects have an abundant opportunity in 2022 and beyond and that becoming truly chain-agnostic will be a crucial step for the future of Hector Finance.
In early 2022, Hector Finance announced its plans for the coming year to create a series of subprojects that can aid the growth and development of Hector Finance’s ecosystem. Included in those subprojects are, among other things, a lending and borrowing protocol, a stablecoin farming system and cross-chain DEX. After the successful deployment of the lending and borrowing protocol and stablecoin farm that gives more than a 30% annual percentage rate, Hector Finance is now making its final preparations for the launch of the Hector DEX. This arrives in tandem with the audit of Hector Finance’s stablecoin farm and listing on the BitMart exchange.
Hector DEX will allow users to swap between tokens across multiple networks with a single click, removing much of the complication and difficulty associated with bridging tokens between networks. The Hector DEX will also form the “Backbone of [Hector’s] general cross-chain expansion, eventually allowing users to work with our offerings from any chain, as if they were natively on Fantom,” according to the Hector Finance team in a recent video. This will allow Hector Finance’s products to be accessible to many more users and provide access to a larger pool of liquidity over time.
Hector DEX can save fees by analyzing all available DEXs and bridges to make the most cost-efficient swaps possible. It’s estimated that 3 million users struggle with bridging and swapping between chains daily, so there is ample opportunity for Hector Finance if it can solve this issue.