Abstract
With the planned release of the Horizon Protocol Perpetual Futures exchange, the beta release of the new V2 UI, and the upcoming deployment of the zBNB pool on Wombat Exchange (BNB Chain), the next goal for Horizon Protocol is to list this pool on Wombat’s voting gauge providing 30,000 HZN bribes/week. The listing of this pool on the voting gauge will help zBNB pool LPs earn a portion of the WOM emissions which will contribute to increasing the Wombat TVL and volume, but also enable veWOM holders to earn yield from a new source of bribes.
Motivation
Horizon Protocol’s goal is to incentivize veWOM voters and zBNB pool liquidity providers to ultimately increase depth of liquidity and peg stabilization for zBNB. Horizon Protocol will provide a new source of bribe incentives via the HZN token, which can potentially be amplified in reach and higher APR for LPs through Wombat’s incentive system.
With an expected increase in demand for our zAssets (zUSD and zBNB) to coincide with our upcoming release of the Perpetual Futures Exchange, migrating our users, liquidity, and incentives to the Wombat ecosystem will create a mutually beneficial scenario for both platforms and its participants.
Specification
The proposal calls for the listing of the zBNB Pool on Wombat’s voting gauge on BNB Chain. Horizon Protocol will incentivize Wombat voters who back the pool.
Next Steps
If the voting process achieves its objectives, Horizon Protocol will then work with Wombat to proceed to deploy the zBNB pool on the Wombat Exchange voting gauge.
References
About Horizon Protocol
Horizon Protocol is a DeFi platform that enables on-chain trading and creation of synthetic assets representing the real economy. The protocol’s goal is to offer exposure to real-world asset risk/return profiles through blockchain-based smart contracts. Horizon Protocol ranked #26 based on TVL locked in the Derivatives category across all chains and #6 on the BNB Chain.
zBNB is one of the 25+ synthetic assets (zAssets) backed by Horizon Protocol. Within the Horizon Protocol ecosystem, it will guaranteed to be valued and traded at the current market price of BNB based on the Chainlink oracle price feed. Therefore any deviations in the price of zBNB from 1 BNB on Wombat Exchange can be arbitraged on Horizon Protocol’s exchange. A zBNB pool is important as it provides the complete on/off ramp access of zAssets when paired with the zUSD pool. This is important for non-protocol participants to access and arbitrage zAssets without actually having to collateralize the zAssets themselves (i.e. staking).