Ecosystem Tokens

Horiza uses four tokens to manage its utility and governance:

$HRA — ERC-20 utility token of the protocol

$oHRA — ERC-20 call option token of the protocol

$veHRA — ERC-721 governance token in the form of an NFT (non-fungible token)

$bveHRA — ERC-20 that can be redeemed only into veHRA


$oHRA - ​0xE594b57E7F11ec1E8Af9f003F74Fa52B7aefdc9F

$oHRA is used for rewarding liquidity providers through emissions.

Liquidity providers in gauges receive the $oHRA emissions directed to the gauge but forgo receiving swap fees (users who manage their own concentrated liquidity position are entitled to the ALM's fee, which is about 13% of the swap fees that they generate). $oHRA is a call option token that is used as the emission token for the Horiza protocol. 1 $oHRA lets you purchase 1 $HRA token at a discounted rate or lock your $oHRA 1:1 for veHRA (max locked). Holders of $oHRA can exercise the right to discounted $HRA by paying with $USDC to convert their $oHRA tokens into $HRA. The discount rate may be subject to change based on market conditions.

IMPORTANT: The Horiza team has integrated a unique technology for ve(3,3) DEX. Now, you can just hold oHRA and when it is executed or locked in veHRA you will get more tokens! The longer you hold it, the more tokens you will get. You can check how many tokens you can change your oHRA to on the Dashboard and Option page (by entering the number of oHRAs).


$veHRA - 0x44ccA4FB1737F6A5DEb2AC1Bc1F3D4075bBF9db4

veHRA is used for governance. Any $HRA holder can vote-escrow their tokens and receive veHRA (also known as veNFT) in exchange. Additional tokens can be added to the veHRA NFT at any time.

veHRA holders receive from 70% to 85% of trading fees and 100% brbies from the gauge they voted for.

veHRA Specifications:

  • ve(3,3) Mechanics: Combination of Olympus DAO's rebase mechanism and Curve's vote-escrowed model

  • Gauge: Pool to earn $HRA rewards based on veHRA weekly voting allocation; no negative voting

  • Bribes: Custom amount of tokens paid by a third party on a gauge to veHRA holders in exchange for their votes

  • Max Lock: 2 years

  • Farming Boost is included, this will boost the emissions of veHRA holders that are LPing

  • Flexibility: veHRA positions can be merged, split, and sold on the secondary market


  • Epochs last for 7 days, after which bribes and trading fees are distributed

  • Earn only from gauges you have voted for

  • Trading fees and bribes claimable as a lump sum after Epoch has ended (n+1)

  • Weekly voting required to be eligible for fees and bribes, unless using an optimizer

  • Pre-approval of vote coming soon

  • Vote can be changed or reset at any time

  • Vote weights reset each Epoch; must vote each Epoch to earn fees and bribes.


$bveHRA - 0x27DB674967647f2eE7eE0996f1a7d02D90fd4b49

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