TM Rating: 67%
Review Date: February 2nd, 2021
Phoenix Horizon is a new DeFi platform that facilitates the on-chain trading of synthetic assets that represent the real-world economy. Forked from Synthetix, Horizon 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 will be partnering with the Binance ecosystem and launching on the Binance Smart Chain to offer users speed and affordability. Horizon will not only be offering cross-chain crypto derivatives (long and short positions), but will be focusing on expanding exposure to traditional financial markets using oracles linked to TradFi markets thanks to the Phoenix DeFi Oracle they are also developing.
Horizon sounds like a new innovative protocol bringing new perspectives while using a proven codebase to start from. However, the project is ambitious as allowing on-chain trading of real-world assets is no easy task and presents numerous problems. There is unfortunately a lack of data about technical implementation and documentation on the project to be sure that they will be able to build what they want to.
