V2 Mainnet Deployment Scheduled for Jan 29th
We are excited to share important news regarding the upcoming Horizon Protocol V2 mainnet deployment! This update will bring significant upgrades to the protocol. Please take note of the following key details.
Deployment Process
We will be temporarily suspending the system for the deployment of the new V2 smart contract upgrades on Monday January 29, from 2:30 pm to 6:30 pm UTC. Please note that this is an estimated time frame, and the actual duration may vary. We strive to minimize any impact and complete the deployment process efficiently, allowing for the possibility of an earlier or slightly extended completion time.
Following the smart contract deployment, we will initiate a data migration into the new contract environment. Subsequently, we will update the frontend to incorporate the updated contracts with the new UI that’s currently available on the testnet.
Upon completion of the migration, we are excited to also deploy a new landing page that will showcase the updated features and project direction.
System Disruptions
During the deployment period, the dApp will display a maintenance message, and all functionality will be suspended, including the transfer of HZN. This also means users will temporarily be unable to trade HZN on PancakeSwap.
Users are encouraged to claim, mint, or burn prior to the scheduled downtime.
Upon confirmation of a successful deployment and system validation, we will promptly resume the protocol.
The smart contract updates will be conducted through the multi-signature protocol DAO wallet and all actions can be found here.
System Features Upgrade & Other Enhancements
The upgraded system will introduce several enhancements, including:
- NEW: Debt Shares
- NEW: Liquidation Mechanism
- NEW: Automated Weekly zUSD Debt Forgiveness
- NEW: Dynamic Exchange Fees (spot) — eliminating oracle delays and enabling swaps between any zAsset.
Futures trading will not be available immediately post-Mainnet deployment, but the smart contracts will be deployed together with the other updates. We plan to activate the futures aspect of the protocol alongside the release of essential risk management tools like stop and limit orders in a future update.
To aid users in adapting to the updated features, a comprehensive overhaul of our existing knowledge database, known as Horizon Academy, will be made available prior to the official launch of Horizon Protocol V2.
We appreciate your understanding and cooperation during this transition period. These updates will provide new essential use-cases and improved quality-of-life and user-experience upgrades to the protocol that will benefit the community. If you have any questions or concerns, feel free to reach out to the support team.
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.
