Decentralized derivatives platform Horizon Protocol confirms the approval of HIP-16 proposal to list XRP, Cardano (ADA) and Chainlink (LINK).

In a recent X post, the trading and liquidity pool protocol disclosed plans for new listings to the Horizon Futures. The decentralized derivatives protocol urged users to prepare to trade XRP, ADA and LINK on the derivatives market.

New listings coming to Horizon Futures! ⚡

Get ready to trade $XRP, $ADA, and $LINK with low fees and up to 27.5x leverage!

Set up your trading account today! https://t.co/BmBq5kea1A

— Horizon Protocol (@HorizonProtocol) July 10, 2024

The post echoes Horizon Protocol’s official update, assuring users of low fees and up to 27.5x leverage. The disclosure encourages users to open accounts as the XRP, ADA and LINK listings will go live on Thursday for trading on Horizon Futures.

The listing is part of Horizon’s ongoing efforts to enhance decentralized access to the real-world economy via synthetic assets. In its official announcement, Horizon hailed the community’s input in approving HIP-16 towards harnessing the DeFi derivatives’ potential.

Horizon’s New Listings

Horizon considers the HIP-16 approval a major development towards the Thursday launch date. The protocol issued a bullish update identifying these additions as a means for investors to diversify their trading portfolios.

Horizon’s official statement voices confidence in XRP, ADA and LINK additions, citing their established market presence as broadening its trading offerings. The expansion aligns with Horizon’s mission to enrich trading strategies on the platform.

Horizon notes that system adjustments are necessary to integrate ADA, XRP, and LINK seamlessly into Horizon Futures. Additionally, the Horizon team targets close monitoring of the XRP, ADA, and LINK performance to inform subsequent enhancements and listings.

Building Decentralized Trading

According to the official announcement, the Horizon Protocol leverages the peer-to-peer model to offer DeFi traders enhanced liquidity, low fees and zero slippage as they trade borderless synthetic assets.

In the statement, Horizon guarantees access to swaps and perpetual futures in real-world assets (RWA). It reiterates its focus on optimizing the potential of DeFi derivatives in RWA, including fiat currencies and commodities.

The addition of XRP, ADA and LINK follows the notable milestone in late June which saw Horizon integrate Solana following the HIP-15 approval. In particular, Horizon profiled SOL as attracting high demand and expecting its synthetic asset (zSOL) to rank fourth largest on its spot exchange.