Horizon Protocol Integrates with Chainlink Price Feeds
Horizon Protocol has now 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.
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 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
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.
Moving forward, Horizon Protocol will continue to leverage Chainlink Price Feeds to expand the list of derivative products Chainlink offer their users on Horizon Exchange, including derivative products for:
- Shorting Sales
- Futures Trading
- Diverse Array of Weighted Baskets
- Leverage Trading
- Options Trading
- FNFTs
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.
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. Synthetic assets, or zAssets on Horizon Protocol, allow users to gain exposure to the risk/reward profiles of 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.
