Horizon Protocol Implements Chainlink Automation to Decentralize the Execution of the Token Monetary Policy

May 31, 2023

Horizon Protocol Implements Chainlink Automation to Decentralize the Execution of the Token Monetary Policy

Today, we are excited to share an important update: The successful decentralization of our weekly minting process through the integration of Chainlink Automation! By further leveraging Chainlink Automation, we have taken another significant step toward mitigating centralized points of failure. The weekly token minting process is a pivotal component that governs our token’s monetary policy and reward distribution system. With Chainlink Automation, we can now ensure the consistent decentralized execution of this process, bolstering the stability, security, and integrity of our rewards system.

For those who may not be familiar, Chainlink Automation enables conditional execution of smart contracts functions through a hyper-reliable and decentralized automation platform that uses the same external network of node operators that secures billions in value. Chainlink Automation helps projects get to market faster by reducing setup costs, ongoing maintenance, and risks associated with a centralized automation stack.

Previous integrations, such as the decentralized automation of the closure of the weekly fee period, have been instrumental in fortifying the robustness of our ecosystem. Each integration is carefully evaluated to ensure it aligns with our vision of achieving a truly decentralized autonomous protocol and providing the best user experience possible for the HZNation.

We would like to thank everyone for your valued feedback and for reporting any issues you may find. If you encounter any issues or have further feedback, please do not hesitate to contact us through our various social media channels, including Twitter, Telegram, Discord, and Reddit.

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.

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