Update: HIP-12 — Staking Wallet Optimization
We are pleased to share the successful implementation of HIP-12, which addresses the utilization of zUSD & zBNB liquidity and optimizes the Community Staking Wallet’s activities.
Optimized Liquidity
Following the migration from the Wombat Exchange bribe system, LP tokens were unstaked from Wombex. HIP-12 suggested utilizing the unstaked liquidity and stake it into Magpie to continue earning rewards. Additionally, earned HZN will now provide liquidity to the HZN-BNB pair on PancakeSwap, supporting the main HZN liquidity pool and earning yield in CAKE tokens.
Cakepie Retroactive Bonus
In addition, we’re excited to announce that, as an early partner, Horizon Protocol received a retroactive bonus from Cakepie in the form of CKP tokens. The amount received totals 142 CKP, which will be locked and used to allocate voting power to the HZN-BNB pool. As a result, additional HZN will be earned.
Impact
These actions represent a step forward in optimizing liquidity and enhancing our protocol’s sustainability while fostering a solid network of partnerships in the Ecosystem. We appreciate your support and look forward to further progress together.
Horizon Protocol is a decentralized derivatives trading and liquidity protocol on a mission to unlock access to the real-world economy through synthetic assets. Offering Defi participants low fees, deep liquidity, zero slippage, and borderless synthetic assets, Horizon Protocol sets itself apart by aspiring to be a seamless UX-Driven Derivatives Powerhouse.
