April 25, 2024

Horizon Futures Testnet V2 Now Live!

Horizon Protocol reaches the final stage of development before the mainnet release!

This latest version introduces the Horizon Futures Account Management System that will enable new essential functionalities such as conditional orders (limit, stop, take profit, stop loss), cross market margin management, and a multiple command execution system that allow traders to conduct multiple operations in a single transaction.

In response to everyone’s input, we’ve prioritized the development of conditional order features to ensure a seamless experience upon our mainnet launch. Testnet V2 is also now integrated with Gelato, a leading Web3 Cloud Platform, harnessing their automation service to power our conditional order system.

To optimize trader experience, we’ve chosen Arbitrum’s Testnet for the Testnet launch, leveraging Gelato’s automation features. This decision mirrors our plans for the Horizon Futures mainnet launch on the BNB Chain, where Gelato is currently available on BNB’s mainnet.

Futures Account Management System (FAMS)

The FAMS is a new middle layer smart contract system built on top of the core Horizon Protocol Perpetual Futures contracts. Utilizing the flexible command architecture of Uniswap’s Universal Router, the FAMS allows for multiple commands to be executed in a single transaction, allowing for greater UX benefits and time efficiency of the trader when conducting complex operations. Traders will also be able to more efficiently manage their margin across multiple perpetual futures markets and place complex orders with a single transaction (i.e. deposit margin into a market, place a market order, and set a take profit and stop loss order in a single transaction!).

The FAMS also directly integrates Gelato’s automated task execution system which enables and powers the new conditional order features on Horizon Futures. Traders can create conditional orders in the form of limit or stop orders that will execute automatically when the trader’s trigger price is reached.

Check out the new features below!

Limit Orders

*Image: Open New Position with a Limit Long Order*

Limit Orders are now available! Click on Limit Order, set the amount you want to buy, set your Limit Price, adjust your leverage, and Place Order! When the price of futures hits your Limit Price, the order will automatically be filled!

Stop Orders

*Image: Adding a Stop Short Order to Existing Position*

Stop Orders are now available as well! Set your Stop Trigger Price along with the Order Size and once the trigger price has been reached, the order will be automatically filled!

Take Profit / Stop Loss Orders

*Image: Adding Take Profit + Stop Loss to Existing Position*

A direct position Take Profit / Stop Loss order options are also available! You can set the target prices for when you want to Take Profit or Stop Loss. Just check the Take Profit / Stop Loss checkbox and add your Take Profit and Stop Loss price targets. The interface will show you the expected profits or losses at those price targets for each order.

Cross Market Margin Management

Get a high level view of your account across all markets you have positions in and what margin is at your disposal.

Automation

To make the conditional limit and stop orders possible, a Gelato Task Keeper is used. Make sure to fund the keeper so Gelato can automate your orders for you.

Access Horizon Futures Testnet V2 Today

You can play with the Horizon Futures Testnet today at: https://testnet.horizonprotocol.com/. Make sure to change your wallet to Arbitrum Testnet. Have fun and please join our Telegram or Discord to give us your feedback!

What else is happening

April 15th was Horizon Protocol’s 3 years birthday! We are celebrating it with a Horizon Protocol special merch giveaway. Make sure to follow us on Telegram and X to get notified!
To incentivize more traders to play with the Horizon Futures Testnet V2, we will be hosting a second trading competition between May 6th to May 27th with a 2000 PYTH reward pool!
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Horizon Protocol is a decentralized derivatives trading and liquidity protocol that provides decentralized access to the real-world economy through synthetic assets. Through Horizon Protocol, users can access swaps and perpetual futures of RWA (real-world assets), including, fiat (i.e. USD, EUR, JPY, etc.), and commodities (i.e. gold, silver, etc.).

With a peer-to-pool model where a counter-party is not required for trading, Horizon Protocol can offer DeFi traders low fees, deep liquidity, and zero slippage when trading borderless synthetic assets. Horizon Protocol sets itself apart with a strong focus on seamless UI/UX and educational content to help the community understand the power of DeFi derivatives.

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