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NewsBTC 2021-08-04 08:00:39

Synthetic Assets on Horizon Protocol: Tremendous Achievement for DeFi

Synthetic assets are different DeFi platform tokens that digitally represent real-life derivatives like futures and options. They are created via smart contracts on a distributed and globally accessible blockchain network. Horizon Protocol Horizon Protocol is a DeFi platform for creating on-chain synthetic assets (zAssets) based on real-life financial assets. The protocol is a fork from the liquidity derivatives protocol, Synthetix. Therefore, instead of reinventing the wheel, Horizon improves the interoperability, scalability, speed, and affordability of on-chain derivatives trading. It introduces the trade of more derivative products on blockchains than the existing synthetic assets-based DeFi protocols. Horizon Protocol and other DeFi platforms Horizon Protocol is an improvement on the established DeFi synthetic asset-trading platform. First, it forks from Synthetix, thereby advancing on this existent liquidity derivative protocol. Second, it seeks to expand the current asset range with more options from the traditional finance market and NFTs from the crypto market through the partnership with Phoenix Oracles. In the future, it will expand the number of trading tools. It even aims to expand the trading options. Moreover, it is optimized with the Binance Smart Chain. Creation of zAssets at Horizon Exchange The utility token for the Horizon Protocol platform is HZN. It serves as the collateral for the trading of synthetic as...

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