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Tech Update
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.
Introducing Debt Shares: Simplifying Debt Management and Cross-Chain Tracking AbilityWe’re excited to share some upcoming changes in our Horizon Protocol V2 smart contract testnet. These changes, including Debt Shares, Dynamic Exchange Fees, and a new Liquidation Mechanism, are significant and will enhance the protocol’s stability, scalability, and user experience. They lay the groundwork for the Futures Exchange we have in store.
Update: HIP-7 & MultisigWe’re here to provide you with an update regarding HIP-7 and the Multi-signature (Multisig) process that we previously discussed in our last community call.
Successful Completion of PeckShield Audit — Horizon Protocol Security UpdateWe are thrilled to announce that the comprehensive audit by PeckShield, covering both the new features detailed in our roadmap and the existing functionalities within UI V2, has been successfully concluded.
