HorizonDEX has announced that it is going to deploy the mechanism on BASE. This will mark a major milestone for HorizonDEX as it will become one of the first players in the industry to do so. Also, it will open up the doors for HorizonDEX to leverage all the possible benefits of BASE.
The development follows feedback that was poured in by the community. Satisfaction is evident from the fact that they have responded positively to the news. A set of benefits that HorizonDEX can claim are sharing a portion of the daily trading volume of $250 million. BASE, a layer-2 solution by Coinbase, will enable the developers’ team to capture a certain volume on the chain.
HorizonDEX is a concentrated liquidity decentralized exchange built on Linea, with its mainnet now live for the community to access. The development follows HorizonDEX concluding the public sale of its token. HZN can now be claimed by anyone. A private sale soon followed, and it lasted for 15 minutes on a private web page.
As for the public sale, there is absolutely no rush, as quoted by HorizonDEX in the announcement. Members of traders or investors can get their hands on the native token at any time. The token was last seen being traded at $0.0235, an increase of 0.09% in the last 24 hours. The highest that it has gone is $0.0236.
Users claiming HZN, or those who are on their way to claim the token, should note that there is a small gas fee associated with the transaction.
Notably, these are not the only advancements that HorizonDEX is making in the crypto sphere. The platform recently launched features that have been defined as advanced by them, teasing the community that the features actually make trading more seamless. New features introduced by HorizonDEX are:-
- Liquidity & slippage reduction
- Interface & user experience
- Competitive gas fees
- Extensive token support
- Incentive programs
- Outlook and leadership prospects
There is proof that HorizonDEX has engaged with the community not just once but several times. Before deploying its mechanism on BASE, HorizonDEX sought the assistance of its community members in voting to get listed on DeBank. This was a part of the mission to make advancements in DeFi, short for decentralized finance. The voting process was pretty simple and involved fewer clicks. Users only had to connect their wallets and hit a button on the webpage.
Another milestone achieved by HorizonDEX in July 2023 is entering into the list of Top 50 Daily Volume on DeFiLIama. This happened within eleven days of the mainnet launch.
HorizonDEX recorded a total value locked of $2.27 million as on July 29, 2023, and registered a trading volume of $1.64 million, making it the top decentralized exchange on Linea. It is followed by Izumi Finance, EchoDex, and LineaSwap.
BASE and HorizonDEX entering into a collaboration takes their efforts forward in making progress. The BASE gets another decentralized exchange on the network, and HorizonDEX gets access to the daily trading volume of a layer-2 solution by Coinbase.
