Subscribe to Horizen
<100 subscribers
Get ready, Horizen community! We're embarking on a major upgrade, moving ZEN onto the Base blockchain. This involves ZEN becoming a standard ERC-20 token on Base and launching our privacy-first appchain.
We're bringing all our unique strengths, especially our expertise in privacy technology, and plugging them into one of the fastest-growing ecosystems in Web3. This isn't just a technical shift; it's a strategic leap designed to unlock massive potential for ZEN and, most importantly, for you.
The current project name and token ticker: Horizen, ZEN
Post-migration project name and token ticker: Horizen, ZEN
Token swap ratio: 1:1
ZEN smart contract address on Base: 0xf43eB8De897Fbc7F2502483B2Bef7Bb9EA179229
Token Claim Portal:
As part of the upcoming migration, $ZEN is shifting from fixed block rewards to a strategic, DAO-driven allocation model designed for long-term growth, flexibility, and privacy-first funding. Several changes in token supply will also take effect: - Total Supply increases from 16M → 21M ZEN - Circulating Supply increases from 16M → 17.25M ZEN (an 8% increase) - On migration day: 750,000 ZEN → Horizen DAO 500,000 ZEN → Horizen Foundation None of this ZEN will be sold or spent immediately. It’s reserved for protocol development, ecosystem support, and long-term alignment.Learn more about the new tokenomics: see here
Let's break it down:
This migration is packed with advantages designed to make your Horizen experience better and open up new frontiers:
Imagine trying to use a special plug adapter for every single device you own. Annoying, right? By becoming an ERC-20 token on Base, ZEN is adopting a universal standard used by countless popular apps, wallets, and exchanges within the Ethereum and Base ecosystems.
What this means for you:
Easier Access: Using, trading, and storing your ZEN could become much simpler. More wallets and platforms you already use might easily support the new ZEN token.
More Opportunities: Think of all the exciting DeFi apps, marketplaces, and games built on Base and Ethereum. ZEN will now be able to interact more seamlessly within this vibrant ecosystem, opening doors to new ways you can use your tokens.
Increased Liquidity: Being part of a larger, more active network often means it's easier to trade tokens when you want to.
We're not just moving; we're building! Our new Horizen appchain on Base is specifically designed as a launchpad for usable and regulatory-compliant privacy applications. Imagine future tools that empower you with greater control over your digital footprint, built on a scalable and efficient platform. Horizen is positioning itself as a leader in bringing practical privacy solutions to the Base ecosystem.
What this means for you:
Future Privacy Tools: The new Horizen appchain is envisioned as the go-to place for developers building usable privacy tools. Imagine future applications that could let you manage your data more privately or interact with services confidentially, all while being designed to meet regulatory requirements.
Leveraging Base's Strengths: By building on Base, Horizen taps into its benefits like potentially lower transaction fees and faster speeds compared to operating entirely on its own. This makes building and using those future privacy apps much more practical.
A thriving ecosystem needs resources! This migration includes an updated ZEN tokenomics that allocates 5 million ZEN from the remaining uncirculated supply to the Horizen DAO treasury. These funds are earmarked for infrastructure, development grants, and community incentives, empowering us all to build and grow together.
Security remains paramount. With this move, the Horizen network will benefit from the robust security foundation provided by the Base blockchain, which itself is secured by Ethereum.
First, let's be crystal clear: The maximum supply of ZEN remains capped at 21 million – this is unchanged.
ZEN Token Becomes "Standardized"
ZEN becomes an ERC-20 token. This is the gold standard for tokens on Ethereum and compatible chains like Base. It just makes ZEN easier to integrate everywhere.
New Role for ZEN
The Horizen Labs’ team is developing strategies where ZEN will serve as the payment system for specialized, compliant privacy services and features built on the Horizen protocol (such as advanced verification or private computation services).
Additionally, through DAO initiatives investing in new privacy-focused projects, ZEN may be utilized as a gas token or for other transaction fees within those specific applications, potentially offering rewards for liquidity provision (e.g., in a private DEX). Gas fees on the main Horizen appchain itself, however, will be paid in ETH - this simplifies things and aligns with how most apps on Base work.
ZEN will continue to be the governance token for the Horizen ecosystem, allowing the community to drive future success.
Think of ZEN as the core vehicle driving and enabling these privacy advancements within the Horizen ecosystem on Base.
We know the biggest question is: "What happens to my ZEN?" Our priority is making this transition as smooth and secure as possible.
Simple Claim Process for ZEN Holders on the Current Horizen Mainchain
If you hold ZEN on the current main Horizen blockchain, there is a user-friendly web portal to help you claim an equivalent amount of the new ERC-20 ZEN on Base:
This will involve using your current wallet (like Sphere or Ledger) to sign a message proving you own your ZEN, and then providing your Base-compatible wallet address where you want to receive the new tokens. Think of it like showing your ID to pick up a registered package.
Crucially, these tools and the underlying smart contracts will undergo rigorous third-party security audits before launch for your peace of mind.
For ZEN Holders on EON
Great news! If your ZEN is on Horizen EON, the process is automatic. Your ZEN balance is directly mapped to the same wallet address on the new Base system. No claim action is needed from your side for EON funds.
If You had Wrapped ZEN or Holding Other Tokens on EON
Only ZEN will migrate to Base. If you held any other tokens on EON (e.g. USDC, USDT, wrapped ZEN), you needed to withdraw or swap them into ZEN before July 23rd
Remove Your ZEN from Any Dapps/Smart Contracts before July 23rd
ZEN locked in smart contracts will NOT migrate. If you have ZEN deposited in dApps or smart contracts, you must remove it — it won’t migrate to Base.
If Your ZEN is staked on EON
If you are staking ZEN from a regular wallet, your ZEN will automatically be unstaked and returned to your wallet during migration.
If you are staking via a multisig wallet or smart contract, it will not migrate automatically. If you choose to continue staking, unstake and restake from a regular EOA wallet.
Follow this visual guide to prepare your ZEN for the migration:
By moving to Base, Horizen isn't just changing its technology; it's positioning itself at the heart of the action in the rapidly evolving Web3 world.
It allows Horizen to focus on its core strength – building practical, compliant privacy solutions – on a platform designed for scale and usability. With a well-funded DAO and a clear vision, the future looks bright.
This is a significant and exciting step for the entire Horizen ecosystem. We are committed to transparency and support throughout this process. Please follow our official communication channels for the latest updates, detailed guides, and opportunities to ask questions during upcoming AMAs:
The move to Base is about making Horizen more accessible, more capable, and better integrated, ultimately bringing more value and opportunity to you, the user and community member.
Get ready for the next chapter!
Horizen
No comments yet