Horizon Protocol

What is HZN and how Does It Work?

HZN is the native token of Horizon Protocol and has a role in Horizon Exchange, a decentralized perpetual futures exchange conceived for facilitating transactions. It enables users to engage with potential assets by organizing loans and procuring zUSD, provided a Collateralization (C) Ratio of 150% or more is maintained. The utilization of HZN can enhance liquidity in the open market, creating an avenue for traders. When it comes to redemption procedures in Horizon Exchange, Horizon Genesis, a part of their ecosystem, permits traders a three-day grace period to modify their C Ratio and adjust the impending redemption status. However, a C Ratio of 700% is necessary to eliminate the redemption flag fully. In the Horizon Genesis process, movable HZN within an escrowed wallet is committed, with a need for 1600 HZN to sustain this action. It might be beneficial if users familiarize themselves adequately with redemption processes to effectively navigate the platform.

The Vision and Mission Behind HZN

Horizon Protocol extends its product range through Horizon futures, enabling traders to speculate on asset prices with varying expiration dates. This practice encourages improved liquidity in the zAsset market. Horizon Futures enhances the ease of trading, reduces slippage, and has competitive fees for efficiently utilizing market changes. Profits or losses experienced by traders on the Horizon Futures platform are correlated with the involvement of HZN token holders, thus boosting liquidity through a balanced combination of liquidity mining and trading volume. The Horizon Exchange ensures trades are executed without any price discrepancies and offers extensive liquidity, along with competitions featuring prizes. Horizon Protocol also prioritizes enhancing user interaction and onboarding procedures. It allows the elimination of zUSD for managing debt, unstaking HZN, and transferring unstaked HZN when the C Ratio reaches 700%. Bonuses can be earned during a specified period, with any unclaimed bonuses returning to the bonus pool. Horizon Futures deviates from the traditional method used by central futures exchanges by not storing traded assets and offers increased leverage for perpetual futures trading. The platform was designed with user-friendliness as a top priority and supports a diverse range of assets. The zBNB liquidity pool available on the open market provides additional incentives. There are possibilities for collaboration between Horizon Futures and Horizon Protocol specifically in the area of decentralized futures trading.

How to Buy and Store HZN?

To purchase HZN, Flooz.xyz offers a streamlined process. Traders can purchase the HZN token via Flooz.xyz, a one-stop solution that provides a smooth checkout experience without the need to own a wallet. Tap tap go! All payment methods are supported. Using Flooz self-custodial web wallet, you can ensure seamless HZN transactions, including storing, sending, and receiving tokens. You can create a self-custodial wallet directly on Flooz using your email, Google, and Apple ID in a matter of seconds. This also ensures that you have access to your funds at all times, thanks to the power of cryptography.

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HZN Metrics:

• Current price: $0.0130

• Market cap: $2.45 M

• All-time high: being indexed (being indexed)

• All-time low: being indexed (being indexed)

• Daily trading volume: $22.43 k

Key Technological Features of HZN

The Horizon Protocol, also known as HZN, operates on the BNB Smart Chain (BSC) and prioritizes zBNB and zUSD as its key tokens. By harnessing a decentralized price feed and a collateralization rate provided by HZN stakers, the value of zAssets (excluding zUSD) mirrors the price of their corresponding asset. A unique staking mechanism accommodates the fluctuations of HZN stakes in relation to the ongoing price changes of the token to help maintain the necessary backing. On the Horizon Exchange, trades can be executed smoothly, allowing for order filling at predetermined prices through decentralized oracles. The important C Ratio metric outlines the quantities of HZN needed as collateral for minting particular amounts of zUSD. In addition, the AlphaNet allows for interaction across multiple chains, setting the stage for cross-chain interoperability across networks such as BSC, ETH, Solana, Polygon, Tron, Cosmos, and Reef. Furthermore, the usage of token wrappers allows for the conversion of tokens into their equivalent zAssets on a 1:1 basis.

How Secure is HZN? Understanding Its Security Protocols

The Horizon Protocol platform highlights independent trades sans oracles. Users have the possibility to stake HZN tokens, but this comes with the risk of liquidation due to HZN concentration in the account. Upon staking, HZN tokens are placed in escrow and become movable when unstaked. Unique to the platform is a timer function that has the capability to block and dissolve zUSD tokens. Extrapolating that seven HZN units should be staked to create one zUSD with one unit of debt, the Collateral Ratio (C Ratio) is at 700%. The health and vibrancy of the Horizon system are tied to the C Ratio. A process for withdrawing funds exists, reinforcing the health of the network. No instant gratification here as rewards have a one-week vesting period. In trading on the platform, factors such as funding rates and price impacts come into play. Collateralization of zUSD using HZN provides support, though not maintaining an advantageous C Ratio could lead to liquidation with watching stakers reaping benefits. A 24-hour waiting period is in place for minting and burning zUSD, designed to deter oracle attack runs. Decentralizing oracles to decrease trading costs is being pondered over. The Horizon Protocol parallels initial asset price movements with synthetic assets. An account hits the liquidation radar when the C Ratio plunges to 200%. A breach below the 700% C Ratio incurs penalties, with redistribution of rewards set for the next week. Futures smart contracts factor in liquidity and volatility when setting parameters. Market shifts could trigger slippage, leading to a gap between predicted and real trade prices. Those providing liquidity in automated market making platforms might become privy to transitory loss risks. A trader can trigger the withdrawal of HZN by extinguishing zUSD given that the C Ratio surpasses 700%, which, in turn, cuts debt and elevates the C Ratio.

What's Next for HZN? Upcoming Developments and Roadmap Insights

Horizon Protocol is planning to introduce tokens that represent different market indices and is examining the possibility of incorporating them with other DeFi products to fashion usage scenarios. A continuous futures exchange is being contemplated where zUSD would be the chief token utilized. Provisions are being evaluated to furnish ample [REDACTED] for token assets and enable features that oversee trading fee fluctuations for zUSD and HZN tokens. Collaborating with Phoenix AlphaNet, Horizon Protocol is hoping to bring forward dynamic [REDACTED] and establish an AI-oriented exchange. They also boast objectives which cover a potential increase in [REDACTED] for zAssets and an expansion of the partner network. The focus is to improve the user experience by integrating tools for managing fluctuations. A forthcoming event, Horizon Genesis, might allow for conversion of staked HZN to a transferable form, a functionality thought up in conjunction with Cakepie SubDAO. One primary goal is raising awareness about the project, incentivizing community participation, and creating anticipation for a mainnet launch. The plan also delves into areas such as improving the user interface and bringing in automated features. Further, Horizon Protocol intends to fortify its partner network by introducing features like limit orders and the HIP11 proposal and boost user engagement by providing updated data, various AlphaNet services and options for fixed price orders. Valuable input from the community is welcomed in influencing the direction of the platform's growth and they have disclosed that the Horizon Exchange would commence operations on January 1st, 2024. Future plans canvas the potential integration of DeFi NFTs and Synthetic NFTs, HZN staking and novel features regarding C Ratio management. Lastly, Horizon Protocol is assessing its token management strategy while pondering over making HZN tokens transferability.

Role of HZN in the Current Cryptocurrency Landscape

Horizon Protocol aims to increase its selection of synthetic assets that mirror real tokens. In doing so, it has partnered with the Phoenix ecosystem, a system that employs artificial intelligence and computational scalability to promote the use of decentralized AI. Horizon Protocol is also looking to apply the "Bribe" system offered by Cakepie on [REDACTED] to redistribute incentives from the HZN EARN Pool. Looking ahead, there might be discussions concerning collateral competition in the derivatives market, although the exact outcomes cannot be known currently. These aspects might be of interest to those participating in the market.

The Team Behind HZN: Who Are the Founders and Key Players?

Horizon Protocol (HZN) incorporates economic mechanisms within its ecosystem with a consistent focus on growth and cooperation, which is highlighted by its various collaborations and extensions. The importance of fluidity is stressed in its Perps Futures products, which are designed to enhance user onboarding and offer a user-focused experience. The protocol involves its community by encouraging traders to share feedback as an integral part of its development process. Moreover, HZN also involves elements such as a testnet trading competition to engage its users.

Real-world Applications: How is HZN Being Used Today?

Horizon Protocol affirms synthetic asset creation and trading, naming them as zAssets which are reflective of real-world markets. The market established for these zAssets acts as an arena for traders not integral to the protocol to interact with the open market. The liquidity system of Horizon Protocol supports its zAssets with BNB being the fundamental token on its home chain and consequently, the liquidity asset on the BNB Chain. HZN, recognized as the native token of the protocol, offers staking provisions which allows for rewards and contribution to platform governance. With zUSD, recognized as a fundamental zAsset and attached to the Dollar, traders are enabled to partake with synthetic assets as showcased on Horizon. The zAsset offering further extends to zIndices, zNFTs, and leveraged assets which are accessible by traders via HZN staking, claiming rewards and sourcing from the open market. Horizon aligns with SkyNet, recognized as an AI technology platform, to equip traders with insight, signals, and strategies in the realm of decentralized derivatives trading. Horizon's mission involves making connections between DeFi setups and conventional financial offerings with the use of HZN as a collateral which underpins the development of tradable zAssets and the initiation of DAO governance. Provisions for the application of stop loss for position closing at particular prices are part of provided features along with provisions for tracking portfolios, making accounts and saving stories to foster a user-focused interaction.