HIP-16: Add XRP, ADA, and LINK to Horizon Futures

Add XRP, ADA, and LINK markets to Horizon Futures to expand trading options and incentivize more activity on the platform.

Type: Horizon Improvement Proposal

Date: July 3rd, 2024

Status: Completed

Summary

This HIP proposes to add Ripple (XRP), Cardano (ADA), and Chainlink (LINK) to the Horizon Futures platform to increase the options available to traders and boost trading volume. By introducing these assets to the Futures market, we aim to enhance the platform's appeal and provide traders with more opportunities to diversify their trading strategies.

Specification

Add Ripple (XRP), Cardano (ADA), and Chainlink (LINK) markets on Horizon Futures and set the system parameters as below:

Ripple (XRP), Cardano (ADA), and Chainlink (LINK) System Parameters

Motivation

Following the successful listing of BTC, ETH, BNB and SOL markets, this proposal aims at further expanding the range of assets available for trading on Horizon Futures. By offering a diverse set of markets, we aim to attract more traders to the platform, increase trading activity, and enhance overall market liquidity.

Given that zXRP, zADA, and zLINK, are among the zAssets with larger market cap on Horizon Protocol, they are the optimal choice for addition as the next Futures assets based on trader interest.

Considerations

• Global Debt Pool Impact: Adding new assets to Horizon Futures will introduce increased volatility and potentially impact the global debt pool. Therefore, assets should be added gradually to ensure the platform's stability and manage risk effectively.

Post-Implementation Evaluation

Upon the addition of new assets to Horizon Futures, an evaluation will be conducted to assess the market's performance and impact. Key metrics such as trading volume, user activity, and market stability will be analyzed to inform future decisions and strategy adjustments. The aim is to continue to add more markets to Horizon Futures while maintaining an active risk management strategy.

Feedback & Questions

If you have any suggestions, concerns, or inquiries regarding this proposal, please don't hesitate to reach out. Your feedback is valuable in ensuring the success and continuous improvement of Horizon Futures.