We’re thrilled to announce that we’ll be collaborating with Reef Finance, the builders of the Ethereum VM-compatible smart contract blockchain called Reef Chain, to bring Horizon Protocol assets to the Reef ecosystem. Тhis integration will bring synthetic asset creation, real asset oracles, asset verification, asset yield farming, lending and borrowing, and additional cross-chain bridges to Reef Chain. We’ll be bringing the best of both projects to each community, expanding the reach of Horizon Protocol’s ecosystem, and providing Reef users access to our innovative synthetic assets.

We know that we are already living in a multi-chain world, a paradigm that will only be more entrenched over time. There is not a zero-sum game for layer 1 blockchains, and so cross-chain interoperability is a must. We are excited to extend Horizon Protocol’s plan for interoperability across Ethereum, Binance Smart Chain, Tron, Neo, Cosmos, and others, to now include Reef Chain so that we can become the premiere cross-chain synthetic assets platform and support Reef Finance’s vision of making DeFi easy.

Horizon Protocol allows for the creation and liquidity provision of synthetic assets that are tied to crypto and real-world assets and instruments. All users holding HZN, Horizon Protocol’s native token, can earn rewards/fees in HZN by staking HZN as collateral to back synthetic assets in addition to providing liquidity. Our synthetic assets will replicate the price, volatility, and the corresponding risk, return, and valuation profiles of the underlying assets, this is a part of the platform where HZN stakers play a crucial role in allowing Horizon Protocol to operate.

In addition to synthetic asset exposure, Horizon Protocol will provide advanced decentralized finance products and capabilities to the Reef ecosystem. Reef Chain users will be able to take advantage of Reef’s almost instant, low-cost transactions and Horizon Protocol’s features to wrap NFTs, fractionalize NFT ownership, access NFT trading, derivatives and indices. Horizon Protocol will also bring sophisticated derivatives products like margin trading, leveraged trading, and prediction markets to Reef!

“While other networks struggle to bring basic, let alone advanced protocols, to market, Reef Finance and Horizon Protocol are collaborating early on in Reef’s journey to ensure we’re not missing critical, advanced DeFi primitives,” says Denko Mancheski, CEO of Reef Finance. “The Horizon Protocol dApp, while looks phenomenal, allows for so many possibilities that I’m very excited for Reef users to get their hands on it. More bridges means more choice, and synthetic assets enable many possibilities that, because of high fees on Ethereum, only a wealthy few can truly enjoy.”

We aim to deploy our innovative synthetic assets to Reef Chain and are eager to contribute our technology and existing data partnerships like FTSE, S&P Global and MSCI to the Reef ecosystem. We welcome the Reef community to join the conversation in steering Horizon Protocol forward in the multi-chain world we operate in.

About Horizon Protocol

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.

About Reef Finance

Reef Finance is building Reef Chain, a DeFi blockchain built using Substrate Framework. Reef Chain provides high scalability, enabling almost instant low-cost transactions, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Our vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.

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