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Horizen Transitions ZEN Token to Base Chain as ERC-20

The migration of ZEN to the Base chain, supported by major exchanges, marks Horizen's strategic entry into decentralized finance with substantial ecosystem development plans.

UNI

Summary

Horizen has migrated its native ZEN token to the Base chain as an ERC-20 token, facilitating trading on DEXs like Uniswap and AerodromeFi. This transition is part of Horizen 2.0, which aims to enhance privacy and DeFi capabilities. The project plans to utilize 1 million ZEN for ecosystem development through the Thrive Protocol, backed by Coinbase, Binance, and Grayscale Trust, adding institutional support.

Terms & Concepts
  • ERC-20: A standard for fungible tokens on the Ethereum blockchain, allowing for interoperability among various tokens.
  • Base chain: A blockchain layer that serves as the foundational layer for deploying applications and tokens, often enhancing scalability and functionality.
  • Horizen 2.0: An upgraded version of the Horizen platform, introducing a three-layer privacy application chain to enhance user privacy and ecosystem functionality.