Have you heard about the cryptocurrency $HEC? Would you like to buy some $HEC tokens and stake them on the HectorDAO platform? The platform currently has an APY far above 100,000% which is quite insane. I do not expect the APY to remain this high for a long time, but currently, that is what it is like. But, how can you actually buy $HEC? Can you find it on Binance, Kucoin, Bittrex, or other famous exchanges? NO!
First of all, you will not find $HEC on any of the big and famous exchanges at the moment. It might come in the future, but currently, you can only find it on so-called decentralized exchanges. And to make it even more interesting, HectorDAO isn’t running on the most famous blockchain Bitcoin, nor on Ethereum, but on Fantom. This might make it a little bit more complicated, but if you follow the instructions here, you should be able to buy your first $HEC tokens in not so many minutes.
How to buy HEC tokens for HectorDAO?
The first thing you need is a wallet that will be able to communicate with the HectorDAO application and on the Fantom blockchain. There are several solutions, but I believe TrustWallet or MetaMask are the best options at the moment. I personally prefer using a hardware wallet like Trezor or Ledger and combining it with MetaMask, but that is my personal opinion and preference.
In other words, get yourself a wallet that can be used to communicate on the Fantom blockchain to which you own the recovery keys. Two good options are MetaMask and TrustWallet.
TrustWallet is run from your mobile device, while MetaMask is best for running on a computer as a browser extension. Choose the one you like the most.
- Install the wallet, write down your recovery keys and take well care of them. You should never share these with anyone! Never share it with someone pretending to be support, nor with anyone who says it is required to stake your tokens or to register at some platform. Anyone asking for your recovery keys is a scammer!
- Now you need to add support for the Fantom network. This requires no job in TrustWallet, but in MetaMask, you can click the Ethereum Mainnet logo in the top of the image and scroll to the bottom of the list and choose Custom RPC. Add the following data:
• Network Name: Fantom
• New RPC Url: https://rpc.ftm.tools
• Chain ID: 250
• Symbol: FTM
• Block Explorer URL: https://ftmscan.com/
If you have done this in MetaMask, you are now ready to communicate with the HectorDAO website and also with the Fantom blockchain itself. If you use TrustWallet, go to DApps in the menu and enter the www.hectordao.com address in the bar. Then make sure to select the Fantom blockchain from the dropdown list next to the address. See the image below to understand what I mean.
Do you see the little blue logo in the top of the image, next to the address? That is the Fantom logo. By default, you will use Ethereum, so click the Ethereum logo and switch to the Fantom blockchain. When this is done, you can click Connect Wallet and you are ready to communicate with the Hector DAO website in TrustWallet.
But, how can I actually buy those $HEC tokens?
Now you know how to communicate with the HectorDAO website and to stake your tokens. But, how can you actually buy those tokens? Here you will find my suggestion on how to solve the problem.
1. Buy some Fantom tokens
The first thing you need is to buy some Fantom tokens (FTM). The easiest way to do so is on either Binance or Kucoin. When you have bought the FTM tokens, go to withdrawal in the exchange and send them to your Fantom address (which can be found in MetaMask or in TrustWallet as your deposit/receive address). It is smart to do a little test transfer first, so maybe just send 0.5 FTM in your first attempt, just to make sure that it works properly before you send a larger value of tokens.
2. Time to buy $HEC tokens
Now it is time to go to SpookySwap. When you are there, connect your wallet. Make sure to once again use the Fantom network with this DApp if you use TrustWallet, while this will happen automatically if you are running your MetaMask wallet on the Fantom network by now.
When your wallet is connected, you will see your Fantom balance. Now you can look around on SpookySwap and choose to swap from FTM to HEC.
Above you can see me in the simple mode of SpookySwap. You can also choose the Expert Mode in the design, and then it will look like this.
In the picture above, my wallet isn’t connected yet, but then I just click connect wallet.
- If you use MetaMask, just select MetaMask as you connect the wallet and accept it in MetaMask. Your wallet is now connect and you can trade your FTM tokens for HEC tokens.
- If you use TrustWallet, open the spookyswap.finance website in your DApps browser. Make sure to have Fantom selected as your network. You can now click the Connect Wallet option in the browser window on your cell phone and you will be able to communicate with the website.
When your wallet is connected, swap your FTM tokens (leave some FTM tokens in your wallet to pay for transaction fees) into HectorDAO tokens. When this is done, continue to the HectorDAO website and stake your newly acquired HEC tokens.
Why can’t I see my HEC and my sHEC in my wallet balance?
Have you done the trade? Are you worried because you cannot see the HEC tokens or the sHEC tokens in your wallet? It can easily be fixed. You have to manually add them. And by the way, if you visit the HectorDAO website, it will see your tokens, even though you might not see them yourself among your balances.
But, this is how you can add them to MetaMask and TrustWallet.
- In MetaMask/TrustWallet, select Add Custom Token and use the following data.
Name: HEC
Contract address: 0x5c4fdfc5233f935f20d2adba572f770c2e377ab0
Decimals: 9
Name: sHEC
Contract address: 0x75bdeF24285013387A47775828bEC90b91Ca9a5F
Decimals: 9
If you add those addresses, you will be able to see your actual balances of HEC and sHEC (staked HEC) at all times in your wallet.
You should now be ready to buy HectorDAO tokens, to stake your tokens, and hopefully, enjoy a future with a nice passive income. Of course, I do not guarantee anything, but I have taken a minor risk with HectorDAO myself, hoping that this will be a success story on the Fantom blockchain in the coming months and years, just like OlympusDAO, Wonderland, and KlimaDAO seems to be nice stories of success on Polygon, Avalanche, and Ethereum.
If you have any further comments or questions, please use the comment field below. I would love to hear from you!
Great article, thanks. I cant seem to add the HEC network into Metamask so I can veiw my sHEC. In your article you mentioned you could enter a “custom token” into Metamask by inputting the contract address & decimal but I cant work out how or where to do this in my Metamask wallet? Any suggestions? Any help greatly appreciated, Mike
I use crypto.com as my exchange and it sent ftm erc20 to my trust wallet how to I convert to ftm native to be able to stake please
How take profit in hectordao
The best option is probably to unstake your sHEC, then sell your HEC for FTM tokens, and then send them to an exchange where you can sell your FTM to USDT, USD, EUR, USDC, or some other stablecoin or FIAT currency. That would be the best option.
Or you can just sell it to MIM or DAI or USDC or something and keep them in your wallet on the Fantom network.
Hi. Binance won’t let me send FTM using the fantom network. It only says BEP2, BEP20 or ERC20. It does have Fantom but says “suspend” next to it.
Can you help?
Hi there,
this is a quite common problem, but to be honest, it is quite complicated and it will normally come with quite large fees (if you transfer from the Ethereum network). You can use the Bridge at SpookySwap (https://spookyswap.finance/bridge). For this to work, you need to have FTM in your Ethereum (MetaMask) wallet). You can then bridge it to Fantom, but you will have to pay a decent fee for this (due to Ethereum gas fees).
You can also bridge from BSC, Avalanche and more, but they do not allow FTM bridging, which means you can bridge MIM, USDC, and more, but if you don’t have any FTM in your Fantom wallet, you will not be able to do any single transactions (as you need FTM to pay for gas fees), meaning that it is all in vain.
Still, this could be an option!