Horizen EON partners with Ascent Exchange to boost DeFi ecosystem on EON with integration of simple liquidity opportunities

Horizen EON is boosting its DeFi game by teaming up with Ascent Exchange and integrating ICHI Vault for simpler yield opportunities. The partnership aims to level up the Horizen EON platform’s capabilities in the decentralized finance (DeFi) space, bringing innovation and efficiency to the industry.

With this partnership, Ascent Exchange is transitioning from its Polygon network roots to Horizen EON, solidifying its prominent position in the DeFi space. Renowned for its focus on users and dedication to pushing the boundaries of innovation, the partnership between Ascent Exchange and Horizen EON marks a pivotal step in reshaping the DeFi landscape.

The news comes just a month after Horizen announced the official launch of Horizen EON mainnet, its fully EVM-compatible smart contracting sidechain platform. Developed and powered by Horizen, Horizen EON is positioned to play a pivotal role in the web3 revolution. With the Web3 user base expected to reach billions of users in years to come, Horizen is laying the groundwork necessary to support this user growth.

New Era for DeFi

The latest partnership with Ascent Exchange signifies a significant milestone. It leverages Ascent’s expertise in decentralized exchange operations, providing a substantial boost to its platform.

This integration means smoother, safer trading experiences and easier transfer of assets and info across the blockchain network. It’s not just about that; it underscores the shared vision for a unified digital asset ecosystem where decentralized apps (dApps) can thrive across different platforms.

Rob Viglione, Co-founder, and CEO of Horizen and Horizen Labs, sees this integration as a big win for the company’s commitment to interoperability and resilience in the blockchain world. Ascent Exchange’s move to Horizen EON isn’t just strategic; it’s a shared goal for DeFi innovation. Their expertise, combined with Horizen’s EVM-compatible platform, is a significant milestone in creating a more connected and sturdy DeFi ecosystem.

In a statement, Viglione said:

“Our integration with Ascent Exchange is a testament to Horizen EON’s commitment to interoperability and resilience in the blockchain ecosystem. Ascent’s decision to migrate from Polygon to Horizen EON is not just a strategic move but a shared vision of innovation in DeFi. Their expertise, coupled with Horizen’s EVM-compatible platform, marks a significant milestone towards creating a more interconnected and robust DeFi ecosystem. Ascent Exchange’s early adoption of the Horizen EON platform is set to redefine the DeFi trading space.”

From its inception, Ascent Exchange leveraged the capabilities of ICHI Vaults, an automated liquidity management protocol that enables those supplying liquidity to earn returns using their preferred tokens on the Ascent Exchange platform.

With each ICHI Vault, users can deposit a specific token, which is then utilized as liquidity within an underlying pool. What’s neat is that these Vaults focus on maximizing the yield of the deposited token while safeguarding against potential impermanent losses. The plan is to roll out ICHI Vaults for a diverse array of assets that Ascent Exchange supports.

Founded two years ago, Horizen is a layer 0 public blockchain that empowers a network of blockchains operating on zero-knowledge principles. This was made possible through its extensive node system and the highly scalable cross-chain protocol known as Zendoo. Horizen provides developers with tools to build custom private or public blockchains and dApps, offering unparalleled flexibility. EON, as a sidechain of Horizen, is compatible with the Ethereum Virtual Machine (EVM).

Below is an AMA video with the Founding Member of Ascent Exchange Bone.