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Tech Update
Horizon Futures: A Sneak PeekAs we approach the testnet Futures Exchange launch, we’re excited to unveil the inner workings of the system and, most importantly, how it’s going to impact your trading experience. This is the first of several articles where we’ll delve deep into the 4 key elements that drive the features and experience of Perpetual Futures DEXs.
Earned Fees Update — From Distribution to Burn (Testnet V2)The Earned Fees Update changes from distributing the “Earned Fee” as rewards to instead, burning it, which has the same result of lowering the amount of debt owed to all stakers while opening up the possibility for stakers to receive the rewards passively and for fair “Earned Fee” sharing across multiple chains.
LIVE: Testnet Horizon Protocol V2We 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.
Tech Update: Upcoming Testnet V2We’re excited to share an update alongside our upcoming Testnet V2 smart contract releases. This update focuses on improving the Weekly zUSD fee distribution. The goal is to make this change beneficial for our community of stakers and promote a fairer fee distribution system.
Introducing NEW Liquidation Mechanism: Safeguarding zAssets and Enhancing Liquidation EfficiencyHorizon Protocol is a protocol that requires the maintenance of collateral to make sure that all zAssets are backed by some underlying asset. In the case of Horizon Protocol, that underlying asset is the HZN token. The worst-case scenario is if the underlying asset’s value is worth less than zAssets, because that would mean that zAssets are not completely backed anymore. One of the mechanisms to prevent the worst-case scenario is the liquidation mechanism, which allows wallets that have gone below the safe C-ratio, or collateralization ratio, threshold to be liquidated by a third party to get them back to a safe C-ratio and ensure the protocol’s zAssets are sufficiently collateralized.
Introducing Dynamic Exchange Fees: Eliminating Oracle Delays and Unleashing Instantaneous TradesWe’re excited to introduce Dynamic Exchange Fees, one of the upcoming changes in our Horizon Protocol V2 smart contract testnet.
