Horizon Protocol Integrates With Chainlink Price Feeds
Horizon Protocol a DeFi protocol for the issuance and trading of borderless synthetic assets, has integrated Chainlink Price Feeds on BSC mainnet. By integrating the industry-leading decentralized oracle network, Horizon Protocol has access to high-quality, tamper-proof price feeds needed to support the on-going development of a wide range of innovative derivative products planned for Horizon Exchange.
“Chainlink is a no-brainer when it comes to reliable price feeds and we look forward to providing our community with reliable and innovative products that use secure Chainlink oracle networks.” — Horizon Protocol Team
Horizon Protocol brings traditional financial markets products into the world of decentralized finance in the form of synthetic assets. Synthetic assets, known as “zAssets” on Horizon Protocol, can track the price movement and risk/reward profiles of both traditional and crypto assets, and even baskets of multiple assets.
Chainlink Price Feeds will be used in the Horizon Exchange dApp to price all zAssets issued by Horizon Protocol, giving traders a diverse array of financial tools to work with. As the development of Horizon Exchange progresses, these instruments will continue to expand in quantity to allow access to new products and markets that have never been possible before.
The integration with Chainlink will provide Horizon Protocol users with strong assurances of the accuracy and security of the prices used to create products. The initial integration for our core-asset launch involves the use of 21 Chainlink Price Feeds:
(Photo courtesy of Horizon Protocol)
Moving forward, Horizon Protocol will continue to leverage Chainlink Price Feeds to expand the list of derivative products we offer our users on Horizon Exchange, including derivative products for shorting Sales, futures trading, diverse array of weighted baskets, leverage trading, option trading, and FNFTs.
ABOUT Horizon Protocol
Horizon Protocol is a DeFi protocol on the Binance Smart Chain that facilitates the issuance and trading of borderless derivatives. Horizon Protocol bridges the products of traditional financial markets and brings it into the world of decentralized finance (DeFi) in the form of synthetic assets.
ABOUT Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
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