Hera Network: A DeFi Hub On Tezos

Hera Network

Hera Network describes itself as a DeFi hub on Tezos. Several components are on the roadmap: Betting/ lottery, Farming, Lending, and Governance of the network.

Hera Tokens

The native token in the Hera Network are HERA tokens. Total supply will be 185 million HERA tokens. Distribution of HERA tokens will be done in several ways.

• 2% will be distributed through airdrops.
• 9% has already been distributed through a private sale.
• 26% is currently distributed through the public sale, which ends the 24th. (95% of the XTZ funds from the public sale will be added to the liquidity pool on Quipuswap on the first of July. And 5% of the funds will be used for marketing.)
• 24.7% will be added in the liquidity pool on Quipuswap.
• 18% will be added to a development pool.
• 20.3% will be used to encourage users within the HERA Network.

Farming

We have seen several farms going live so far on Tezos. Hera Network will launch a farm to distribute their governance token hrDAO. Only HERA token holders will be able to farm hrDAO tokens. The hrDAO farm will go live to weeks after HERA tokens are distributed. HERA tokens are distributed 1 week after the public sale ends. hrDAO total supply is 27.000 tokens.

Betting/ lottery games

Betting/ lottery are games where users can bet against each other. There are 2 number betting systems on Hera:

• Instant bet: A P2P contract where a player simply choose a side which is below or above 50 (0-49 or 49-99), and bet with another one who has a same amount bet size. The winner takes all rewards. This feature is planned to go live on the first of July.
• Daily bet: Players pick a number from 0-99. The lottery system announces the JackPot number of the day at 2PM UTC. The winner will get a 70x reward. This feature is planned to go live in the second half of July.

Lending

Currently Kolibri is the only way to collateralize your XTZ and “borrow” kUSD. Kolibri is not designed to be a lending platform though. It is a stable coin, and to reach stability for kUSD, a stability fee is charged. This fee can be adjusted. Currently the stability fee is set at 22,50%.

A lending-borrowing platform is a more stable way to borrow value. Additionally, it offers a counterparty to earn interest by offering the tokens that can be borrowed.

Hera Network intends to create a lending-borrowing platform within the Hera Network that provides decentralized p2p contracts that allows borrowers to directly take a loan through the platform by selecting the best deals from lenders.

Roadmap

Q2 2021: Hera Network Community Event and Token distribution
Q3 2021: Release Farming and Lottery Services
Q4 2021: Release P2P Lending Service.
Q1-2 2022: Governance System on Hera Network.