First Horizon Protocol Community Governance Proposal

Dear Horizon Protocol Community,

Horizon Protocol plans to achieve a Horizon DAO (Decentralized Autonomous Organization) Community Governance in the future. We want to empower the community to steer Horizon Protocol’s progress and direction. To ensure our governance process is successful we will begin by using Snapshot, a gas-free voting method, to conduct our community governance votes.

We’ll be running our first vote on a proposal to choose the zUSD/BUSD LP pool lock period.

[Proposal] zUSD/BUSD LP Pool Lock Period

The 7-day lock period is to reduce volatility in liquidity provision and keep liquidity locked in for a longer period of time. More liquidity in the zUSD/BUSD LP benefits the protocol by increasing the stability of the $1.00 zUSD open-market peg and allowing users to trade zUSD with less price impact.

Since zUSD is used to burn debt and manage a HZN holder’s C-Ratio on Horizon Genesis, it was proposed by the community to have a shorter lock period in order to have better accessibility to staked zUSD and better manage the user’s C-Ratio during potential HZN price volatility. This will help make it easier for users who stake their zUSD to claim their rewards each week and prevent their account from getting flagged for liquidation.

Options:

  • No lock
  • 1 day
  • 3 days
  • 7 days

We’ve prepared a step-by-step guide with pictures on how to vote using Snapshot here with a summary:

How to vote:

  • Visit our Horizon Protocol Snapshot page to view active proposals.
  • Click on “Connect wallet” in the top right corner.
  • Connect with the Metamask wallet where you hold HZN.
  • Click on the option you want to vote for.
  • Sign the message via your wallet and you have casted your vote.

Vote settings:

  • Voting Type: Single Choice Voting — choose one option.
  • Voting Power Strategy: Default — your voting power is based on balance of HZN at the snapshot time/block when the proposal starts (Excludes escrowed HZN)
  • Start Date: 22:00:00 (SGT) Wednesday, 18th August 2021
  • End Date: 20:00:00 (SGT) Friday, 20th August 2021

Get out there and vote!