[Technical Update] Road to Q4 Horizon Exchange

In this update we want to report the development progress we’ve made and the milestones on our way to a Q4 2021 launch of Horizon Exchange!

The current stage of development is focused on updating some of the smart contracts in preparation for Horizon Exchange. Some of these updates are necessary for Horizon Exchange and others are for an upcoming new version for Horizon Genesis.

There are many small updates to the existing code so we’ll cover the major points. We are:

  • Adding a new contract that is able to redeem zAssets that become deprecated in Horizon Protocol by creating a function that converts them back to zUSD at a fixed rate. This makes it so if in the future we want to discontinue a zAsset, that all of the zAsset can be redeemed back to zUSD so it doesn’t affect the global debt portfolio.
  • Enabling a public contract to be able to escrow HZN. This allows HZN outside of Horizon Genesis to be locked in escrow for protocol contributors, key partners, or certain contracts as long-term incentives.
  • Removing the cap on the number of escrow entities in the escrow table. Currently there is a hard cap of only returning 5 years of escrow entries.
  • Improving escrow data retrieval. This will allow dApps to better lookup escrow entries by passing the escrow entry ID.
  • Improving debugging by increasing the number of emitted events to better track down problems.
  • Many other updates not listed here will be visible on our Github in the near future.

We are already in the testing phase with the implementation stage of updates already complete at this point.

The order of releases leading up to Horizon Exchange launch is:

  • Complete testing of updates to existing code.
  • Horizon Exchange Testnet
  • Horizon Exchange Launch

We’ll keep everyone updated on the relevant status of each item and will be waiting to hear your feedback on each release, especially when we take Horizon Exchange to testnet so that we can optimize it for the best user experience possible.

A DeFi platform facilitating the creation of on-chain synthetic assets representing the real economy. https://horizonprotocol.com/