How to Stake on Genesis
Instructions on how to stake on Horizon Genesis
Welcome to an introduction on "How to Stake on Horizon Genesis".
To start, the user will need a wallet. Horizon Genesis operates on the BSC (Binance Smart Chain), so the wallet for the HZN token must be BSC compatible. Horizon Genesis supports the following wallets:
- Binance Chain Wallet extension (FireFox, Chrome, Edge)
Note that Hardware wallets (Ledger, Trezor) are not supported natively by Horizon Protocol, however, are available through MetaMask and the Binance Chain Wallet browser extension.
You will need to acquire two types of tokens to be able to stake:
- HZN tokens for staking
- BNB tokens to pay for network gas.
HZN is the token for the Horizon Protocol network that supports and underlies the synthetic assets produced on the network.
You can buy HZN via the following exchanges:
Decentralized Exchanges (DEX)
After connecting your wallet, you are ready to stake. Minting means you will be staking your HZN to create zUSD.
The maximum amount of zUSD you can mint is at a 700% C-Ratio, which means that for every $700 USD worth of HZN, you will be able to mint $100 zUSD.
To begin minting, you can either:
- Select a Preset Strategy The user can choose how much they want to Mint by selecting a preset strategy. Aggressive will populate the maximum amount of zUSD that is mintable, given the user's HZN holdings. Neutral and Conservative helps create a bit of a buffer so zUSD does not need to be as frequently burnt or HZN added to maintain the 700% C-Ratio. Learn more about strategies.
- Select Amount of HZN to Stake The user can type in how much HZN they want to stake or click Mint Max, which will collateralize at 700%, the same as using the Aggressive strategy.
- Select Amount of zUSD to Mint The user can type in exactly how much zUSD they want to mint.
Once a week, on Fridays, rewards will be available to be collected. Go to the Claim tab and click Claim. A notification will display on the Claim tab if you have rewards available to claim. The reward can only be collected if the user's C-Ratio is 700% or more. If it's less, the user will need to go to the Burn tab to burn some zUSD or add some more HZN to your wallet. There is a few percent buffer under 700% where you can still claim your rewards.