In this article, we are revealing the groundbreaking Horiza NFT sale, which is set to bootstrap the protocol’s activity and represent a unique opportunity for its participants to become an integral part of Horiza’s success. You'll find insights into how Horiza aims to enhance the DeFi ecosystem and ensure the long-term success of the protocol and its users alike. Don't miss the opportunity to be part of this exciting journey and unlock the countless possibilities that await.

The Upcoming hraNFT Sale

To make our users a part of Horiza’s successful journey, the team decided to hold an NFT Sale, where 4,500 hraNFTs will be made available. Most of the proceeds from the sale will be allocated to seeding the initial liquidity of the Horiza protocol, while the hraNFTs owners will be granted access to multiple revenue streams, in perpetuity.

Unlocking Benefits with hraNFTs

By staking their NFT, holders become eligible to earn a share of transaction fee revenues, ranging from 5% to 20%. This unique opportunity begins with a 20% share for the first three months, decreasing to 15% in the subsequent three months, 10% after another three months, and finally settling at 5% in perpetuity.

In addition to the commission income, NFT holders will be airdropped a share of 10% of the initial HRA supply in the form of veNFT tokens. veHRA holders can vote for gauges and get bribes and trading fees from swaps. Automation tools powered by the exceptional Retro team ensure active governance without imposing a manual voting burden on participants, who are relieved from the need to cast manual votes every time.

Secondary Sales and Royalties

Like other NFTs, hraNFTs can be traded on marketplaces, with a 3% royalty applied to secondary sales. Of this, 2% accrues to a pool which all original NFT minters can benefit from. The remaining 1% royalty goes to another pool to which existing NFT holders and stakers have a claim.

Sale rounds

The hraNFT sale will be conducted in four rounds:

1. Private round ($40 per NFT)

2. OG round ($50 per NFT)

3. Whitelisted round ($60 per NFT)

4. Public round ($75 per NFT)

A Proven Fundraising Approach

The potential of this novel NFT fundraising approach has been successfully demonstrated by projects like Thena, which has conducted an initial sale of 1,734 founders theNFTs. Some metrics of theNFT:

• Thena’s theNFT Floor Price APR: 59%

• Total theNFTs Staked: 1070/1734

• Total Volume (Element): 3,687 BNB

• Floor Price (Element): 9.39 BNB (from an initial price of 2 BNB for Whitelisted mint and 2.5 BNB for Public mint)

• Listed items (Element): 0.2%

Your Gateway to the Future of DeFi

Horiza, the pioneering Unive(3,3) DEX on the Arbitrum blockchain, is set to redefine the landscape of decentralized finance. With an unwavering commitment to fostering liquidity scaling, ensuring participants earn substantial rewards, and eliminating concerns about price impact, Horiza stands at the forefront of DEXs’ innovation. Our mission? To create a sustainable and profitable protocol that pushes the boundaries of what's possible in the DeFi space.

Innovation

Thanks to the revolutionary oToken v2 update introduced by our friends at Retro Finance, users have access to a new financial instrument - the oHRA option token.

This implementation is a game changer for ve(3,3) DEX. Now you don't have to lock tokens, vote every week, collect rewards and keep track of your position lock time. All that's left is to simply hold an oHRA token. Having oHRA you can redeem into veHRA at any time to manually manage the protocol or redeem into a liquid version of the HRA token according to the redemption discount. You can get an oHRA token as a reward for providing liquidity or by redeeming it for an HRA token.

Stability

Stability is the foundation of Horiza's approach, and it’s the result of a wide range of strategies, from oTokenomics to auto-bribes, emission boost, and a reduced max supply of the native token, capped at 180 million. These features work in harmony to deter mercenary liquidity, amplify returns for loyal participants, and maintain the stability of the native token and the whole protocol.

Capital Efficiency

To maximise capital efficiency, Horiza adopted the Concentrated Liquidity Market Maker (CLMM) design pioneered by Uniswap v3. The ve(3,3) approach, introduced by Solidly et al., supercharged by the oTokenomics implemented by projects like Retro Finance, ensures that liquidity is directed toward the top-performing pools, creating a flywheel between LPs and traders. Thanks to the integration of non-custodial, automated liquidity management (ALM) solutions from DefiEdge and in the future with Gamma, Horiza empowers liquidity providers with the tools to stay profitable, effortlessly. Finally, by adopting Merkl's smart emission distribution system, Horiza can fairly reward liquidity providers based on their contribution and capital performance.

Yield Generation

As other ve(3,3) DEXs, Horiza generates yields for its participants by tapping into two primary income sources: bribes and trading fees. Bribes incentivize veHRA voters to support specific liquidity pools, channelling a larger portion of weekly emissions and thus driving higher APRs, with the result of attracting more liquidity. While external bribes are offered by various protocols in the Arbitrum ecosystem to bootstrap or deepen liquidity for their tokens, internal ones, also referred to as auto-bribes, stem from the profits generated through oHRA token options and veHRA royalties (veHRA is an ERC-721 token and can be traded as an NFT). In addition to bribes, veHRA token holders are eligible to earn a share of trading fees from the pools they vote for.

Security

Security is non-negotiable at Horiza. As a friendly fork of Retro Finance, the top-notch DEX on the Polygon sidechain, all contracts involving user funds have undergone meticulous audits by Open Zeppelin. Additionally, Horiza inherits the robust audits associated with liquidity-interacting contracts from Uniswap v3. Like Retro and other partners, Horiza is committed to providing a safe and secure environment from the moment of its launch.

Premium User Experience

Our team has painstakingly designed a distinctive ve(3,3) DEX from the ground up, complete with a custom front end. Partnering with Horiza means not only sustainable profits but also an enjoyable journey through the world of decentralized finance.

The Horiza Factor(s)

Compared to other ve(3,3) DEXs, Horiza significantly improves its sustainability, capital efficiency and generated returns thanks to the combination of several winning tested functionalities.

By adopting this mix-and-match approach with innovative components from the best projects, Horiza creates a robust and holistic solution that addresses problems such as dependence on mercenary liquidity, excessive reliance on external bribes, and insufficient revenue that the protocol generates. Addressing these challenges can, in turn, prevent self-destructive deviations and downward spirals, ultimately guaranteeing the protocol's enduring sustainability and prosperity.

Importantly, many of these strategies and features have already been validated by our friends at Retro Finance.

As a rule, the first 3 months are the most important and highly volatile months for protocols. Retro Finance show good stability in these critical months compared to other ve(3,3) protocols

At the latest snapshot on December 7th, Retro had the following metrics:

• Average Voting APR: 142%

• Average Locking: 78%

• Average Yield APR: 47%

On the contrary, other DEXs on Arbitrum haven’t been equally successful, even when leveraging ve(3,3) tokenomics.

Horiza treasures Retro’s experience and learnings and aims at replicating its success on Arbitrum, enhancing the DeFi experience for the whole ecosystem.

So, where are we now? At this point, Horiza’s protocol development work is fully completed. Besides the projects that served as inspiration for Horiza’s various functionalities, we are lucky enough to have gathered a wide network of partner protocols supporting us for the long run. These include Frax, Overnight, Liquity, Gains, Impermax.

We are not stopping here, and after the launch, we will continue to add top-notch functionalities and expand our network of partners, in order to offer a holistic and state-of-the-art experience to our participants. To achieve this, we need to kickstart the ecosystem, lay strong foundations, and ensure our early supporters are properly rewarded.

Get Ready to Seize the Opportunity

In this article, we've delved into what makes Horiza stand out as a pioneering DeFi protocol. As other projects have proved, the key to success lies in harmony and sustainability, achieved thanks to a balanced combination of capital efficiency, yield generation, and security. By addressing the challenges of existing protocols and integrating proven features, Horiza is poised to offer a more robust and user-friendly DeFi experience.

As we embark on this transformative journey, we invite you to participate as one of our early members and play a pivotal role in shaping this new DeFi era. The hraNFT sale will help us bootstrap the initial liquidity that will power the Horiza machine for the coming years. More importantly, the sale can be your gateway to exclusive benefits and opportunities within our ecosystem. Join us in securing your spot in this exciting venture, and seize the vast potential it offers.

Glossary of Tokens in the Horiza Ecosystem

• HRA = the native token of Horiza, it’s an ERC-20 token. It can be obtained by exercising the option and paying the discount rate in USDC, or by swapping oHRA directly using the oHRA/HRA pool.

• oHRA = the option version of the HRA token. It is the reward to LPs. It can be converted to HRA by paying a discount in USDC (if exercising the option), converted 1:1 into stacked HRA (veHRA), or directly swapped for HRA in the oHRA/HRA pool.

• veHRA = the vote-escrowed version of the HRA token. It is obtained by vote-escrowing oHRA tokens. It is an ERC-721 token which can be traded as an NFT. A 7% royalty on secondary sales goes into auto bribes, thus supporting the protocol's sustainability.

• hraNFT = the 4,500 NFTs sold at the beginning to raise initial liquidity. Of this, 2% goes to an ‘Original Minters’ pool and is shared across them; an additional 1% goes to an ‘Existing Stakers’ pool and is shared across those who hold AND stake the NFT. Staking the hraNFT also entitles the holder to a share of 5%-20% of trading fees and a share of 10% of the veHRA airdrop.