HomeCoinsPancakeSwap (CAKE)Horizon Protocol (HZN) IFO to be Hosted on PancakeSwap | by PancakeSwap...

Horizon Protocol (HZN) IFO to be Hosted on PancakeSwap | by PancakeSwap | Apr, 2021

- Advertisement -


PancakeSwap
Horizon Protocol HZN IFO to be Hosted on PancakeSwap

CAKE holders, we are delighted to announce Horizon Protocol (HZN) as the next Initial Farm Offering to be hosted on the PancakeSwap IFO platform, the first one to be done using the new IFO format explained here.

Horizon Protocol is a new DeFi platform that facilitates the onchain trading of synthetic assets that represent the real economy. Horizon Protocol seeks to provide exposure to real-world assets risk/return profiles via smart contracts on the blockchain. Forked from Synthetix, Horizon Protocol will leverage the time-tested derivative liquidity protocol and bring interoperability, scalability and a whole new array of tradable, real-world derivative products to the DeFi ecosystem. Horizon Protocol’s commitment to the Binance ecosystem and native implementation on Binance Smart Chain (BSC) offers users the speed and dependability that is currently lacking on the Ethereum blockchain.

The Horizon Protocol token (HZN) drives the economic incentives for participants in the Horizon Protocol. HZN serves as collateral as part of the synthesis of tradable synthetic assets (zAssets), drives the reward system, as well as eventually facilitates a DAO that will govern the overall protocol and future development. By forking from the Synthetix protocol, Horizon Protocol is able to build upon the progress pioneered by others, while focusing on solving challenges related to scalability and affordability.

The initial minted supply of HZN token is 100,000,000. Details:

  • 10% (10,000,000 HZN) will be reserved for the IFO on PancakeSwap.
  • 30% (30,000,000 HZN) will be reserved for Liquidity Mining (PHB, HZN, HZN-BNB LP) purposes.
  • 60% (60,000,000 HZN) will be reserved for the Ecosystem & Community Fund.

Initially, only the 10% IFO allocation will be circulating in the market, followed by the Liquidity Mining allocation, expected to be released over the course of a year. The Ecosystem & Community Fund will NOT be initially circulating and will be used to support the protocol and community via stabilization of synthetic asset collateralization, market making for synthetic assets, protocol grants, bounties, partnerships, and other community incentives. There is no team or investor allocation.

Following the launch of Horizon Genesis dApp, there will be a perpetual inflation schedule in order to continuously incentivise synthetic asset collateralization. This inflation schedule will begin at a 70% annual rate and will taper down to a terminal annual inflation rate of 2.5% by week 235 (~4.5yrs).

To learn more about Horizon Protocol, click here.

Sale start block: 6496800 (approx. 9am UTC on Thursday 15th April 2021)

Sale end block: 6498000 (approx. 10am UTC on Thursday 15th April 2021)

Amount to be raised: $2,500,000 USD in CAKE-BNB LP tokens

Tokens to be sold: 10,000,000 HZN (10% of initial HZN total supply)

Price per token: 1 HZN = $0.25 USD

Cake to be burnt from sale: $1,250,000 USD

Method: Basic Sale and Unlimited Sale (Both sales will be conducted via the Overflow method)

TLDR: Basically, the more you put in, the more you will get, and you’ll get back anything that doesn’t get spent.

In the “Overflow” method, users can subscribe as much or as little as they want to the IFO, and their final allocation will be based on the amount of funds they put in as a percentage of all funds put in by other users at the time the sale ends. Users will receive back any leftover funds when they claim their tokens after the sale.

Before Sale:

  1. Create an active PancakeSwap profile
  2. Buy CAKE and BNB tokens
  3. Get CAKE-BNB LP tokens by adding CAKE and BNB liquidity

During Sale:

  1. While the sale is live between blocks 6496800 and 6498000 (9am — 10am UTC on Thursday 15th April 2021), commit your CAKE-LP tokens to buy HZN tokens at pancakeswap.finance/ifo

After Sale:

  1. When the sale is complete, claim your HZN tokens and your unspent funds will also be sent back to you.
  2. Done! In the case of an overflow you can unstake your remaining CAKE-BNB LP tokens.

If you decide to acquire CAKE-BNB LP tokens before the IFO starts, you can stake them here to earn CAKE token rewards while waiting for the sale.

Please note — while you are holding CAKE-BNB LP tokens you will be at risk of Impermanent Loss.

Want to participate in the IFO and get the most bang for your buck? This is for you.

In the “Basic” session, each person can contribute a MAXIMUM of $100 equivalent in CAKE-BNB LP tokens.

The number of tokens available in this format will typically represent around 30% of the total sale.

Note that the final allocation you receive will still be subject to the total amount raised in this session, but the good news is you’re not battling any whales.

As the name suggests, the “Unlimited” session has no limits on the amount each person can contribute. However, this comes at the cost of a participation fee.

The number of tokens available in this format will typically account for 70% of the total sale.

How much is the participation fee?

The participation fee will start at 1%, which is only applied to your contribution to the “Unlimited” session.

The 1% participation fee decreases in cliffs, based on the percentage of overflow from the “Unlimited” portion of the sale.

The fee cliff for the Horizon IFO is as follows:

In the “Unlimited Sale” method, users can subscribe as much or as little as they want to the IFO, and their final allocation will be based on the amount of funds they put in as a percentage of all funds put in by other users at the time the sale ends. Users will receive back any leftover funds when they claim their tokens after the sale.

Please note — The final USD price per CAKE-BNB LP token will be set a few minutes before the sale starting at block (9AM UTC on Thursday 15th of April 2021) and will be broadcasted on all channels.

While a few things may be subject to initial change, two things are sure:

  1. You will need CAKE-BNB LP tokens to participate.
  2. If the full $2,500,000 USD allocation is raised, then at least $1,250,000 USD of CAKE tokens will be burned forever.

Project: Horizon Protocol (HZN)

Website: https://horizonprotocol.com/

Initial Circulating Supply (Day of sale): 10,000,000 HZN from initial supply of 100,000,000 HZN

Contract Address:

https://bscscan.com/token/https://bscscan.com/address/0xc0eff7749b125444953ef89682201fb8c6a917cd

Audit: Complete (Knownsec) https://static.horizonprotocol.com/Horizon-Protocol-Smart-Contract-Audit-Report.pdf

Twitter: https://twitter.com/HorizonProtocol

Telegram (EN): https://t.me/HorizonProtocol

Medium: https://horizonprotocol.medium.com/

Disclaimer — All projects are subject to both high market risk and volatility. Please, do your own research and full due diligence before even considering to invest your funds in any project and please, make your investments very cautiously. PancakeSwap will not be held responsible for any investment losses.





Source link

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,499FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 61,933.00
ethereum
Ethereum (ETH) $ 3,837.76
tether
Tether (USDT) $ 0.99998
bitcoin-cash
Bitcoin Cash (BCH) $ 615.49
litecoin
Litecoin (LTC) $ 184.43
eos
EOS (EOS) $ 4.54
okb
OKB (OKB) $ 16.12
tezos
Tezos (XTZ) $ 6.58
leo-token
LEO Token (LEO) $ 2.85
cardano
Cardano (ADA) $ 2.15
monero
Monero (XMR) $ 260.33
stellar
Stellar (XLM) $ 0.391251
chainlink
Chainlink (LINK) $ 26.20
huobi-token
Huobi Token (HT) $ 7.49
tron
TRON (TRX) $ 0.098598
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 189.28
neo
NEO (NEO) $ 43.26
iota
IOTA (MIOTA) $ 1.23
nem
NEM (XEM) $ 0.168586
zcash
Zcash (ZEC) $ 137.77
maker
Maker (MKR) $ 2,510.02
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 53.38
vechain
VeChain (VET) $ 0.120732
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 55.27
kucoin-shares
KuCoin Token (KCS) $ 13.12
waves
Waves (WAVES) $ 28.67