Update: zUSD and zBNB Pools Migration & Community Fund Staking

Horizon Protocol
2 min readOct 27, 2023

Hello everyone,

It has been over a month since we migrated the zUSD and zBNB pools to Wombat Exchange. Both pools play a crucial role as on/off ramps to the upcoming Perp Futures Exchange. The current swap fees for zUSD/USDC and zBNB/BNB are at 0.01%, which is remarkably competitive in the market.

Today, we are excited to share the progress we’ve made in terms of both pools’ liquidity and how we are utilizing the community fund to balance the zUSD and zBNB liquidity.

As of today, our zUSD pool TVL stands at $308.8K, and the zBNB TVL is at $154K. We’ve witnessed gradual improvements since the launch, especially on the BNB and USDC sides of the two pools.

Over the past couple of weeks, we have actively monitored the pool balances by offering incentives to the imbalanced side to attract more liquidity and maintain the pool balance.

We have also been gradually adding zUSD and zBNB from the community fund in small batches through the multi-signature wallet to balance the pool. An additional 15,000,000 HZN were moved to the Community Fund Staking Wallet, bringing the total to 30,000,000 HZN, to enhance liquidity. Here’s the breakdown of where we currently stand for providing liquidity in both Wombat and Magpie as yield aggregators:

Wombat Exchange:

- 54.73 zBNB

- 26,891.75 zUSD

Magpie:

- 23.12 zBNB

- 38,721.04 zUSD

It’s worth noting that there is $82,919.31 liquidity in the Pancake zUSD/BUSD pool. We would like to remind you that the new pools are live on Wombat Exchange, and the incentive for the Pancake zUSD/BUSD pool has been discontinued. The PancakeSwap pool will remain open until cleared out, so we encourage stakers to remove their liquidity from Pancake at their earliest convenience.

In summary, the zUSD and zBNB liquidity pools are progressing in the right direction we will be continuing to make the adjustments for balancing the pools. It’s important to highlight that the subsequent release of the Loan and Wrapper features following the launch of Perp Future will contribute to bolstering the liquidity supply.

Horizon Protocol is a DeFi platform that facilitates the on-chain trading of synthetic assets that represent the real economy. Horizon Protocol seeks to provide exposure to real-world assets risk/return profiles via smart contracts on the blockchain.

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Horizon Protocol

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