Horde: A Stable Yield Protocol Combining DeFi as a Service and GameFi

What is Horde

Friends, imagine a world full of zombies, and you, as a brave “landlord,” can earn stable daily returns by purchasing virtual “land” plots (called Plot), while also using these plots to shine in future zombie defense games. This is the core concept of the Horde project (token ticker: HOR) we’re discussing today.

Horde is a blockchain project that combines DeFi as a Service (DaaS) and GameFi. DaaS can be understood as “outsourced financial services,” offering a way to earn passive income by holding specific assets. GameFi, as the name suggests, is “gamified finance,” allowing you to earn while playing games. What makes Horde unique is its attempt to solve the problems of unstable returns and high token price volatility in traditional DaaS projects, using a clever mechanism to maintain relative price stability for its token.

Simply put, you use Horde tokens to buy a Plot, and this Plot gives you a 1% daily reward in Horde tokens. But to ensure sustainability, each Plot has a reward cap—typically, after reaching a 300% return on investment, it “decays,” and you need to repurchase or upgrade to continue earning.

Project Vision and Value Proposition

The Horde team’s vision is to build a sustainable, fair, and long-term rewarding DeFi ecosystem. They observed that many DeFi projects promise high returns but often fail due to severe token price fluctuations and unsustainable reward mechanisms.

Horde aims to stand out through the following:

• Price Stability Mechanism: They designed a unique liquidity management system to keep the HORDE token price within a relatively stable range, avoiding wild swings.
• Sustainable Reward Model: By introducing the “Plot decay” mechanism—each Plot stops producing rewards after reaching 300% ROI—this ensures rewards don’t endlessly dilute token value, extending the project’s lifespan.
• Fair Participation Opportunity: At launch, there was no whitelist and no large token allocation for founders, meaning all participants start on equal footing, and team members invest like regular users.
• Community-Driven Governance: Community members can participate in treasury investment decisions and token price threshold settings, making users a real part of the project.

Horde’s goal is to offer a DeFi experience that is both high-yield and relatively stable and long-lasting, rather than a fleeting “Ponzi scheme.”

Technical Features

Horde’s technology centers on its unique economic model and gamified elements:

• Plot Mechanism: This is Horde’s core. Users buy virtual land (Plot) to receive daily rewards. Each Plot provides a 1% daily return and “decays” after reaching 300% total return, requiring reinvestment or upgrades. This mechanism prevents unlimited rewards from causing inflation and system collapse.
• Liquidity Management System (LMS): This is a smart algorithm designed to keep the HORDE token price stable within a preset range (e.g., $100 to $120). When the price drops below the lower limit, LMS buys tokens; when it hits the upper limit, it sells tokens, smoothing out volatility. This system requires ample capital reserves to operate.
• NFTs (Non-Fungible Tokens): The Horde ecosystem integrates NFTs, which can be used to upgrade your Plot, provide extra reward bonuses, and will play roles in future P2E (Play-to-Earn) zombie defense games, such as scenes, weapons, or character skins.
• Fee-Free Ecosystem (Partial): Aside from a 10% sales tax, Horde strives to offer a relatively fee-free environment to encourage user participation.
• External Revenue Sources: The team actively explores external income streams, such as trading bots, to support protocol rewards and reduce reliance on new investor funds.
• Chainlink Integration: Horde integrates Chainlink VRF (Verifiable Random Function) to ensure fairness in NFT minting and uses Chainlink Keepers to automate fee collection and other operations.

Tokenomics

Horde’s tokenomics revolve around its native token HORDE, aiming for sustainable rewards and price stability:

• Token Basics

  • Token Symbol: HORDE
  • Issuing Chain: While not explicitly stated, the mention of BUSD purchases suggests it runs on BNB Smart Chain (BSC).
  • Total Supply: HORDE token supply is capped at 1,111,111, making it a deflationary token.
  • Issuance Mechanism: Specific details are not provided, but the limited supply and reward mechanism indicate controlled token output.

• Token Utility

  • Plot Purchase: Users need HORDE tokens to buy Plots, which is the basis for daily rewards.
  • NFT Upgrades and Gaming: HORDE tokens and related NFTs are used to upgrade Plots and will serve as core assets in future P2E zombie defense games.
  • Community Governance: While it’s not directly stated if HORDE tokens are used for governance voting, the project emphasizes community involvement in treasury investment decisions and price threshold settings, which typically grants voting rights to token holders.

• Token Allocation and Unlocking

  • No Founder Reserve: A notable feature of Horde is that no tokens were reserved for founders at launch; team members participate as regular investors.
  • Transaction Tax: To maintain sustainability and curb speculation, a 10% tax is levied on HORDE token sales. This tax supports liquidity management and project operations.
  • Plot Purchase Fund Flow: When users buy Plots, funds are allocated to different pools: about 60% goes to the reward pool for existing Plot holders, a portion to the treasury for investment, and another to the Horde pool for team operations and marketing.

Team, Governance, and Funding

• Core Members and Team Features

  The Horde team has made efforts toward transparency. Reportedly, the development team has completed KYC (Know Your Customer) certification and regularly holds AMA (Ask Me Anything) sessions with the community. Additionally, the team did not reserve a large number of tokens for themselves at launch, participating as regular investors, aligning their interests with the community.

• Governance Mechanism

  Horde emphasizes community participation and decentralized governance. Community members have a say in key project decisions, such as:

  • Treasury Investment Decisions: When treasury funds reach a certain amount (e.g., $100,000), the community votes on which DeFi projects to invest in.
  • Price Threshold Setting: Wallet holders verified by the community can vote on the new monthly price stability threshold for HORDE tokens.

  This model aims to give users greater influence over the project’s direction.

• Treasury and Funding Runway

  Horde’s funding mainly comes from Plot purchases and transaction taxes. These funds are allocated to several key areas:

  • Reward Pool: Used to pay daily rewards to Plot holders.
  • Treasury: Serves as an investment tool, with investment directions decided by community votes, aiming to generate external income for the protocol.
  • Horde Pool: Used for team operations, development, and marketing expenses.
  • Liquidity Management Wallet: This wallet holds BUSD and other stablecoins to execute LMS buy/sell operations, maintaining HORDE token price stability.

  The team states they are working to develop more revenue sources to achieve full protocol self-sufficiency and reduce reliance on external investment.

Roadmap

Since its launch in 2022, Horde has had a series of plans and developments:

• Q1 2022

  • KYC certification completed.
  • Project website and token launched on Souls swap.
  • Whitepaper v1.0 released.
  • Certik audit completed.
  • NFT scenes launched to boost rewards, and marketing campaigns started.

• Q2 2022

  • Whitepaper v2.0 released.
  • New-feature NFTs launched, including more scenes, zombie trophies, and monuments.
  • NFT marketplace integrated.
  • Website updated to version 2.0.

• Q3 2022

  • Horde zombie defense game launched.
  • NFT skins released for weapons, characters, and buildings.
  • “HORDE Live” streaming events held, allowing monthly achievement winners to play live and win big rewards.

• Future Development (End of 2022 and Beyond)

  • Chainlink VRF and Chainlink Keepers integrated to enhance NFT minting fairness and protocol automation.
  • The team began shifting focus from high APY% DaaS to a more sustainable profit-sharing model, aiming for protocol self-sufficiency through multiple revenue streams.

Common Risk Reminders

Friends, while the Horde project sounds interesting, every blockchain project comes with risks, especially high-yield DeFi projects. Before participating, be sure to consider the following:

• Technical and Security Risks

  • Smart Contract Vulnerabilities: Although the project claims to have undergone a Certik Audit, smart contracts may still have undiscovered flaws that could lead to fund loss.
  • System Complexity: Horde’s liquidity management system and Plot decay mechanism are relatively complex, and their long-term effectiveness depends on precise algorithms and market conditions.

• Economic Risks

  • “Ponzi” Structure Risk: Many DaaS projects are criticized for “Ponzi economics,” where early investors’ returns depend on later investors’ capital inflow. Although Horde tries to mitigate this with Plot decay and external income, if new capital inflow is insufficient to cover rewards, the system may still face pressure.
  • Price Stability Dependence: HORDE token’s price stability mechanism relies on funds in the liquidity management wallet. If there’s extreme sell pressure or insufficient LMS funds, the token price may not remain stable.
  • ROI Uncertainty: Despite promises of 1% daily and 300% total returns, considering the 10% sales tax and Plot decay, actual payback period and net profit may differ from expectations.
  • Protocol Change Risk: The project may adjust its economic model based on market conditions, such as shifting from high APY% DaaS to a profit-sharing model. These changes may affect existing investors’ returns.

• Compliance and Operational Risks

  • Regulatory Uncertainty: DeFi and GameFi are not clearly regulated globally, and future policy changes may negatively impact project operations.
  • Team Execution Risk: Project success largely depends on the team’s ability to deliver roadmap features on time and effectively manage funds and the community.

Remember: The above information is not investment advice. Always do your own research (DYOR) and fully understand the risks before making any investment decisions.

Verification Checklist

To further understand the Horde project, you can refer to the following information:

• Block Explorer Contract Address: Find the HORDE token’s contract address on BNB Smart Chain (or other relevant chains) to view on-chain data such as holder distribution and trading volume.
• GitHub Activity: Search for Horde’s official GitHub repository to check code update frequency and developer community activity.
• Audit Reports: Review audit reports from Certik or other third-party firms to assess smart contract security.
• Official Website and Whitepaper: Visit Horde’s official website and carefully read the latest whitepaper or project documentation for the most authoritative and detailed information.
• Community Forums and Social Media: Follow Horde’s community activities on Discord, Telegram, Medium, etc., to learn about hot topics and the latest project updates.

Project Summary

The Horde project (HOR) is a blockchain experiment combining DeFi as a Service (DaaS) and GameFi concepts, attracting attention with its unique “Plot” mechanism and zombie theme. The project aims to address the issues of unstable token prices and unsustainable rewards in traditional high-yield DeFi projects through its liquidity management system and Plot decay mechanism, striving to offer users a relatively stable and long-term passive income opportunity.

Horde emphasizes community governance and team transparency, claiming the team has completed KYC and reserved no founder tokens, allowing the community to participate in treasury investment and price threshold setting. Its roadmap also shows an evolution from DaaS to a profit-sharing model, with plans to launch P2E games and an NFT ecosystem.

However, like any high-yield DeFi project, Horde faces inherent risks, including potential “Ponzi” structure risk, reliance on new capital inflow, effectiveness of the price stability mechanism, and smart contract vulnerabilities. Investors should fully recognize these risks and conduct thorough due diligence before participating.

Overall, Horde is an innovative attempt in the DeFi space, seeking a balance between returns and sustainability. For those interested in GameFi and DaaS models and willing to take on the associated risks, Horde offers a case worth studying. But always remember, this is not investment advice; users should do their own research for more details.