October 12, 2023

LIVE: Testnet Horizon Protocol V2

We are thrilled to announce our smart contract V2 is now live on Testnet! This update brings in some significant structural changes, including the integration of Debt Shares, the introduction of Dynamic Exchange Fees, a new Liquidation Mechanism, and a fresh Weekly zUSD Fee Distribution system. These changes represent a major milestone in Horizon Protocol’s evolution and have established a strong foundation for the forthcoming launch of the Perpetual Futures Exchange, ensuring enhanced security, stability, and functionality.

Today, we’re excited to explore how these changes directly impact the user experience through our refined UI on our V2 testnet.

Let’s dive in!

What’s New on the Testnet UI?

Improved Dashboard Layout

The UI structure has been revamped for a more streamlined experience. The Dashboard page has been reorganized, with a focus on Trading accounts in preparation for the Futures exchange. The Account page has been merged into the Dashboard and Stake pages for enhanced usability.

Enjoy Effortless Trading

Say goodbye to zUSD exchanges when trading between different zAssets. Enhance your DeFi experience by trading between zAssets directly! Read about the new Dynamic Exchange Fees.

Trade with Lightning Speed

Thanks to improvements in the exchange fee implementation, the oracle waiting period after each trade has been reduced to 0 seconds. Read about the new Dynamic Exchange Fees.

Introducing the self-liquidation option

You can now liquidate your HZN collateral to fix your C-Ratio if you are unable to pay down your zUSD debt. The liquidated HZN will be redistributed back to all HZN stakers for claiming. Read about the new Liquidation mechanism.

Stakers Benefit from Liquidations

All liquidated HZN will now be redistributed back to HZN stakers proportionally, based on each staker’s percentage of the global debt. Liquidation rewards can be used as collateral to stake and mint, even when not claimed. Once claimed, liquidation rewards are escrowed for 1 year. Read about the new Liquidation mechanism.

Effortless Debt Forgiveness

Experience the convenience of automated zUSD debt forgiveness. zUSD fees earned each reward period are now automatically burned, and an equivalent amount of your debt is forgiven — no additional actions or C-Ratio management needed. HZN rewards still require claiming with a managed C-Ratio. Read about the new Debt Shares.

In our relentless pursuit of improving user experience and performance, we’ve diligently refined the Horizon Protocol V2 Testnet UI. These enhancements are designed to ensure that your journey through the protocol is not only smoother but also more intuitive and rewarding. The next step is to launch the perpetual futures exchange on the testnet.

We’re delighted to have you join us in this phase of development. Testnet provides the perfect opportunity for you to try out these new features, offer valuable feedback, and help us shape the future of Horizon Protocol. Your input is invaluable in our journey.

Join us as we explore the latest changes to Horizon Protocol on Testnet!

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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