Announcing New HIPs. Hey, HZNation.

21 Jun 2023, 19:47

📚Announcing New HIPs📚 👋Hey, HZNation! ✍️We would like to share our new Horizon Improvement Proposals (HIPs) that bring significant changes to our liquidity pools, aimed at maximizing efficiency and user experience. Click on each HIP to read the full proposal 🔹HIP-7: Utilize Community Fund for Additional Liquidity - Allocate 15M HZN from the community fund to staking - Will not claim weekly rewards - Increases liquidity in preparation for the launch of our new features - Added benefits include: reduces slippage, stabilizes zUSD peg, increases TVL 🔹HIP-8: Move Earn LPs to Wombat - Migrate the zUSD-BUSD and zBNB-BNB LPs to Wombat Exchange - Consolidating both LPs means easier user access - Trading fees will reduce significantly - Single-sided staking means no more providing equal liquidity for both pair sides 🔹HIP-9: Redirect HZN to Wombat as ‘Bribes’ - HZN rewards formerly going to ‘Earn’, will now be redirected to Wombat’s ‘Bribes’ - Provides users with increased value - Users can earn additional rewards by following Wombat’s incentive system 🔹HIP-10: Stake w/ Community Fund to provide liquidity on Wombat - Staking with the community fund will generate WOM - 50% of these will be locked as veWOM for 6 months, and used to vote to direct incentives to Horizon Protocol’s LPs - WOM used this way will also earn HZN rewards. These will be redirected to the community fund - Remaining 50% of WOM will be sold on the open market generating revenue - These changes help ensure the protocol’s long-term sustainability and growth, and reduce amount of circulating HZN 🐻Wombat Exchange is a multi-chain stableswap backed by Binance Labs, native on BNB Chain. Its innovative single-sided pool design allows users to swap stablecoins at minimal slippage and stake at maximum yield 💬What are your thoughts on these proposals? Let us know what you think!