Add DOGE and SHIBA markets to HorizonFutures to expand trading options and incentivize more activity on the platform.
Last updated
Type: Horizon Improvement Proposal
Date: August 13th, 2024
Status: First Draft
This HIP proposes to add Dogecoin (DOGE) and Shiba Inu (SHIB) to the Horizon Futures platforms in order to increase the options available for traders and boost trading volume. By introducing these assets to Futures, we aim to enhance the platform's appeal and provide traders with more opportunities to diversify their strategies.
Specification Add Dogecoin (DOGE) and Shiba Inu (SHIB) on Horizon Futures and set the system parameters as below:
Following the successful listing of 10 Futures markets, this proposal aims to further expand the range of assets available on Horizon Protocol. By offering a diverse set of markets, including popular memes coins, we aim to attract more traders to the platform, increase trading activity, and enhance overall market liquidity.
In this batch of listings, the top two most popular memes coins will be added to the currently available options for Futures trading. Dogecoin (DOGE) was originally created in 2013 and is currently established as one of the top 10 coins by market cap. Shiba Inu (SHIB) was created in 2020 as an ERC-20 token on Ethereum Mainnet and is second in popularity and market cap among meme coins. Considering their popularity, market performance, and ecosystem maturity, these are the optimal choices for addition as the next futures assets.
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.
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 Protocol while maintaining an active risk management strategy.
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.
