Horizon Protocol (HZN) Initial Distribution via PancakeSwap IFO v2.0
Dear Horizon Protocol Community,
We are proud to announce the start of the initial distribution phase of Horizon Protocol (HZN) on 9am UTC on Thursday 15th April 2021, in collaboration with PancakeSwap via their new IFO 2.0 process.
IFO Sale Details
- IFO access: https://pancakeswap.finance/ifo
- Sale start block: 6583020 (approx. 9am UTC on Thursday 15th April 2021)
- Sale end block: 6584220 (approx. 10am UTC on Thursday 15th April 2021)
- Amount to be raised: $2,500,000 USD in CAKE-BNB LP tokens
- Tokens to be sold: 10,000,000 HZN (10% of initial HZN total supply)
- Price per token: 1 HZN = $0.25 USD
- Cake to be burnt from sale: $1,250,000 USD
- Method: Basic Sale and Unlimited Sale (Both sales will be conducted via the Overflow method)
HZN Token Distribution
The initial minted supply of HZN token is 100,000,000. Details:
- 10% (10,000,000 HZN) will be reserved for the IFO on PancakeSwap.
- 30% (30,000,000 HZN) will be reserved for Liquidity Mining (PHB, HZN, HZN-BNB LP) purposes.
- 60% (60,000,000 HZN) will be reserved for the Ecosystem & Community Fund.
Initially, only the 10% IFO allocation will be circulating in the market, followed by the Liquidity Mining allocation, expected to be released over the course of a year. The Ecosystem & Community Fund will NOT be initially circulating and will be used to support the protocol and community via stabilization of synthetic asset collateralization, market making for synthetic assets, protocol grants, bounties, partnerships, and other community incentives. There is no team or investor allocation.
Following the launch of Horizon Genesis dApp, there will be a perpetual inflation schedule in order to continuously incentivise synthetic asset collateralization. This inflation schedule will begin at a 70% annual rate and will taper down to a terminal annual inflation rate of 2.5% by week 235 (~4.5yrs).