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Horizon Protocol
$0.003731
0.54%
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Horizon Protocol Price Converter
Horizon Protocol Information
Horizon Protocol Supported Platforms
| HZN | BEP20 | BNB | 0xc0eff7749b125444953ef89682201fb8c6a917cd | 2021-03-25 |
About Horizon Protocol
Horizon Protocol is a blockchain-based platform for creating and trading synthetic assets, known as zAssets, covering cryptocurrencies, stocks, commodities, and others. Its pricing is determined by decentralised oracles, eliminating the need for traditional order books. The Horizon Protocol (HZN) token is key in its ecosystem, used in DeFi applications for staking, lending, and borrowing. HZN holders also govern the protocol, influencing network changes and adding features. They contribute to liquidity pools, earning rewards and transaction fees. Furthermore, HZN serves as collateral for synthetic assets and is utilised in various decentralised applications within the Horizon Protocol. The platform was jointly developed by APEX Technologies and Red Pulse.
Horizon Protocol is a platform based on blockchain technology that facilitates the creation and exchange of synthetic assets, referred to as zAssets. These zAssets represent an extensive variety of asset classes, encompassing cryptocurrencies, stocks, commodities, fiat currencies, Non-Fungible Tokens (NFTs), market indices, and datasets. The functioning of this platform does not require an order book or the matching of counterparties. Instead, asset prices are established by reliable decentralized oracles.
The Horizon Protocol (HZN) token, a crucial component of the Horizon Protocol ecosystem, has diverse applications. It's extensively used in various DeFi (Decentralised Finance) applications, enabling users to engage in staking, lending, or borrowing HZN across numerous decentralised finance platforms. Holders of HZN tokens are pivotal in governing the Horizon Protocol; by staking their tokens, they secure voting rights to influence decisions related to network alterations or the introduction of novel features. Additionally, users are encouraged to supply liquidity to pools involving HZN tokens, in return for rewards and transaction fees, a common practice in decentralised exchanges and liquidity pools. HZN is also a key element in yield farming, where participants earn extra tokens by staking or lending their HZN, stimulating active ecosystem involvement. In some scenarios, HZN tokens act as collateral for creating synthetic assets that emulate the value of physical assets like commodities, currencies, or other cryptocurrencies within the Horizon Protocol ecosystem. Moreover, HZN tokens are utilised in a range of decentralised applications built on the Horizon Protocol, for purposes such as conducting transactions, accessing specific features, or serving as a method of payment.
Horizon Protocol was developed through a collaboration of two companies: APEX Technologies and Red Pulse. The key figures behind these companies are:
APEX Technologies: Co-founded by Jimmy Hu and Tiger Yang. Hu, serving as CEO, is a former Microsoft advisor and was recognised as "Person of the Year in Artificial Intelligence" by China Internet Weekly. Yang, the President, was featured in Forbes China's 30 under 30 list in 2018.
Red Pulse: Co-founded by Jonathan Ha, Stanley Chao, and Peter Alexander. Ha and Chao left Red Pulse in 2020 and 2019, respectively. Ha has a background in computer engineering and economics, while Chao has experience in the investment industry.