Horde Finance was launched in early 2022 as a DeFi project with a revolutionary multiplayer P2E zombie defense game at its core. The game was touted as a potential game-changer for the industry, with plots and NFTs that could earn money from gameplay. Many investors were enticed by the promise of a new DeFi project that could potentially revolutionize the industry and invested in the project, hoping for high returns.
Horde Finance also promised revolutionary liquidity management technology that would balance out liquidity, providing investors with constant and passive returns. However, this promise turned out to be false, and many investors’ funds were wiped out due to impermanent loss. The liquidity management technology failed to work as promised, resulting in a total loss for investors.
In addition to this, the project had promised investors a feeless ecosystem, but in reality, it had a 10% tax on sales, preventing swing trading of token value. The reward system was also unsustainable and was based on stable coin tokenomics, which promised to ensure the sustainability of the ecosystem. However, this too failed, resulting in a lack of sustainability and failed promises.
But it was the game that was the main draw for investors. The promise of a multiplayer P2E zombie defense game with multiple NFT utilities was a major selling point. The game would have NFT utility plots that earn daily rewards, providing a potential source of income for players. The NFTs were also touted as having value beyond the game, with potential use in the upcoming game.
The project sold over 500 NFTs to date, but it failed to launch the game in Q3 2022 as scheduled. Eventually the game was completely scratched, and investors who had purchased the NFTs were left with worthless assets. The plots, which were supposed to be a source of income for players, also stopped paying out rewards all of a sudden, leaving players with nothing to show for their investment, time and effort.
It later became clear that Horde Finance had shifted its focus away from the game and into mining cryptocurrencies. The project announced that it planned to generate revenue by purchasing miners and mining cryptocurrencies. However, this move came under scrutiny, with allegations of it being a mere facade to attract more investments and scam more investors.
AsicZ, a mining consultant with years of experience in the mining industry, offered to help the Horde team acquire volume gear at low prices and provide low power costs for hosting. However, the offer was not acknowledged, and AsicZ was muted on Horde’s Discord server. This raised concerns that Horde’s mining venture may not be genuine, and investors could end up losing their money once again.
Horde Finance turned out to be nothing more than a ponzi scheme that has duped investors. The project made promises it could not keep, and many investors have paid the price for it. Investors who trusted the project and invested in it have been left disappointed, and it is a cautionary tale for those who invest in DeFi projects.