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Exploring HorizenEON - Providing Liquidity On Ascent Exchange

By PVM | Mind Puzzle | 3 Mar 2024


Horizen is the layer 0 public blockchain that enables the zero-knowledge network of blockchains. The chain has become EVM-compatible through the EON sidechain, and developers are now able to build fully customizable chains, including consensus, speed, privacy and crypto-economies. 

I started exploring HorizenEON in the early stages, from testnet to the fully deployed EVM. Being early is always beneficial, and not talking about airdrop or chasing those 100x pumps. Being early gives you a head-start in using reputable protocols and gaining the knowledge needed for farming the best yields. 

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Diamonds are forever, just like Horizen's future success! You can't go wrong with EON, seeing the names that were integrated in 2023. Spooky Swap, LayerZero, PYTH, Metamask, Band, Ankr, Tatum, ThirdWeb and many more top crypto brands are now available on Horizen EON!

Ascent Exchange is one of the early protocols, one that offers versatile and efficient swapping mechanism through its unique V3 Concentrated Liquidity model powered by vAMM and sAMM technologies. 

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The Ascent V3 Concentrated Liquidity Model offers ultra-low swap fees, close to 0.01%, and up to 25x lower swap fees for traders. The dynamic creates an up to 4,000x enhanced capital efficiency for liquidity providers compared to V2 LPs

The stable swaps are tailored for correlated assets like USDC - USDT, ensuring a seamless and efficient trading experience for stable assets. The UniV2 Style Swaps for non-correlated assets with trading fees are allowing users to trade pairs like ZEN-USDC, and many more.

At the heart of Ascent's trading ecosystem are its Liquidity Pools, designed with integrated smart routing to ensure optimal price execution for traders. These AMMs are not only battle-tested but also composable, making Ascent Exchange the perfect DEX for other protocols to build on. 

I started my Ascent journey by swapping $ZEN into $wZEN, using it to supply liquidity in single asset pools. I added $wZEN in two pools, waiting for others to add either ETH or BTC on the pool's pair. 

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The Ascent vAMM pools cater to the trading of uncorrelated assets like ZEN, BTC or ETH, enabling users to swap tokens directly without relying on central order books or intermediaries. The exchange rates are dictated by the relative supply and demand of each token, making vAMM ideal for handling volatile assets.

It gets better, as the sAMM Pools embrace the Curve style and are tailored for the trading of correlated or loosely pegged assets such as USDC, USDT or DAI. Unlike conventional AMMs that utilize a constant product formula, sAMMs employ a constant sum formula. This approach maintains the total value of assets within the pool at a constant level, effectively minimizing slippage and price impact.

You can't talk about it if you didn't try it! I decided to add some liquidity into the USDC - ZEN pool, considering that the ZEN value maintained stable close to $8 for some weeks. Hopefully the volatility will be minor and will not suffer impermanent losses. 

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Few clicks later and my LP was ready, adding 124 USDC and 15.9 ZEN into the pool. My pool share was only 0.17% but I was hoping for some good profits. Being early is always good... as the early worm catches the bird! Or is it the other way?

EON is still fresh but the chain's volume is considerably high. Will take a while until I will explore all available protocols, and discovering which has the best earning opportunities. 

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Will conclude the article with some good news and the latest updated from Ascent Exchange! The Dual Token Model adopted by Ascent will implement the $AEX and veAEX tokens, with 15,000,000 $AEX being airdropped exclusively for users on Horizen EON. The users will share the 11 million AEX, and 5 million paired with $ZEN and $USDC for initial liquidity.

The $AEX holders will enjoy APRs above 100% from rebases, trading fees and protocol revenue. Over $200,000 weekly will be redistributed to valued token holders and another 20,000,000 AEX tokens will be reserved for high-quality protocols.  

Staked tokens will become veAEX, allowing the holders to vote on proposals and shape the platform's future. Keep an eye on Ascent Exchange for a community-driven platform with earning potential and a unique token launch! 

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PVM
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UMA Ambassador 🐔 Across Committee Member 🌉 Horizen Ambassador


Mind Puzzle
Mind Puzzle

Think! ... it's still free! An amalgam of cryptocurrency, science, arts, news and other manifestations of human intellectual will be published on this blog. Sometimes I will add my personal opinions or midnight revelations

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