Horizon Protocol

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.