Horizon Protocol Integrating Chainlink Keepers
Horizon Protocol is Integrating Chainlink Keepers BNB Chain mainnet to Help Automate On-Chain Synthetic Assets
Chainlink Keepers will allow Horizon Protocol to securely and cost-efficiently automate the distribution of Horizon Exchange fees and staking rewards to HZN stakers in Horizon Genesis. This marks another step forward in removing all centralized dependencies and achieving the complete decentralization of Horizon Protocol.
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.
On Horizon Genesis, users who provide collateral and mint synthetic assets via HZN staking will be eligible to earn all the exchange fees accrued on Horizon Exchange in addition to staking rewards. These minted synthetic assets can then be used to trade and develop a portfolio of real-world and crypto assets on Horizon Exchange, Horizon Protocol’s DEX for synthetic assets.
Chainlink Keepers Provide following Features:
— Decentralized Execution
— Increased Efficiency
— Enhanced Security
— Reduced Costs
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.
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 them into the world of decentralized finance (DeFi) in the form of synthetic assets. Synthetic assets, or zAssets on Horizon Protocol, allow users to gain exposure to the risk/reward profiles of a wide-range of real-world assets and derivative products, including equities, commodities, cryptocurrencies, NFTs, fiat, and even combinations, or baskets of assets. Horizon Protocol users can invest or speculate on zAssets in borderless spot, futures, and options markets.
