Announcing HIP-11: Utilize Cakepie to Drive Liquidity Incentives and Bolster Partner Network
Today we would like to share a new HIP (Horizon Improvement Proposal) that could enhance the liquidity for HZN and the rewards and incentives for our community. This proposal aims to redirect HZN from our EARN Pool to PancakeSwap’s ‘Bribe’ system leveraging Cakepie.
- Liquidity Incentives Boost: HIP-11 explores the integration of Cakepie’s innovative bribe system and PancakeSwap’s Gauges voting incentive system. This strategic move aims to enhance liquidity incentives and potentially surpass the rewards offered by our current earn pools.
- Expanded Partner Network: As a secondary motivation, we aspire to further fortify our network of partners in the DeFi ecosystem. This initiative is geared towards building trust and expanding our reach to a broader user base, allowing more individuals to become acquainted with and express interest in Horizon Protocol.
Details of HIP-11:
- Enhanced Rewards Distribution: A portion or the same amount of weekly HZN rewards will be redirected to Cakepie Bribery Market as “Bribes.” This approach aims to incentivize Cakepie and PancakeSwap’s governance users to allocate voting power and CAKE emissions to our liquidity pool.
- Strategic Sunset: We will sunset the HZN/BNB LP staker on Horizon Protocol, creating a more dynamic liquidity landscape.
Considerations, Potential Risks and Community Involvement:
As we unveil HIP-11, we invite our community to delve into the proposal, share your thoughts with us, and actively participate in shaping the future of Horizon Protocol.
PancakeSwap is a leading decentralized exchange (DEX) operating across multiple blockchain networks, known for its features of trading, earning, and winning.
Cakepie is a SubDAO designed by Magpie to enhance the sustainability of PancakeSwap. As a yield and veTokenomics service provider, Cakepie locks CAKE tokens as veCAKE, securing enhanced yields and voting rights within PancakeSwap.
We encourage the community to review and provide feedback on this proposal. Together, we aim to strengthen our position in the DeFi landscape and offer enhanced opportunities for our users. If you have any questions, you can contact us through any of the socials mentioned below this post.
Horizon Protocol is a DeFi platform that facilitates the on-chain trading of synthetic assets that represent the real economy. Horizon Protocol seeks to provide exposure to real-world assets risk/return profiles via smart contracts on the blockchain.