Horizen's Native Token Migrates to Base, Enabling Privacy-Enabled DeFi Appchain

Horizen has migrated its native ZEN token to Base as an ERC-20 asset, marking the start of its transition into a modular privacy-enabled decentralized finance appchain. ZEN will power a privacy-enabled DeFi appchain with Singularity integration and DAO-led governance and DeFi vaults. The circulating supply of ZEN has increased to 17.25 million, with 750,000 going to the Horizen DAO and 500,000 to the Horizen Foundation.

Horizen has completed the migration of its native ZEN token to the Base blockchain as an ERC-20 asset, marking a significant milestone in its transition to a modular privacy-enabled decentralized finance (DeFi) appchain. This move is part of Horizen 2.0, a Layer 3 privacy-focused appchain on Base [1][2].

The migration of ZEN to Base blockchain as an ERC-20 token allows Horizen to leverage the scalability and compliance features of the Base ecosystem. The transition is designed to enhance privacy features, making Horizen a compelling choice for privacy-centric DeFi applications [1][2].

Horizen has also announced that ZEN will power a privacy-enabled DeFi appchain with Singularity integration and DAO-led governance and DeFi vaults. The circulating supply of ZEN has increased to 17.25 million, with 750,000 tokens allocated to the Horizen DAO and 500,000 to the Horizen Foundation [3].

Horizen's move to Base blockchain is part of a broader ecosystem relaunch focused on modular privacy and sustainable on-chain utility. The project has been evolving since its inception as ZenCash in 2017, with a renewed focus on supporting decentralized applications and privacy features [1].

The migration of ZEN to Base blockchain is expected to boost Horizen’s position in the growing Base ecosystem, offering investors and developers a privacy-focused DeFi platform with advanced zero-knowledge proof technology [1][2][3].

References:
[1] https://www.theblock.co/post/364064/horizen-zen-base-appchain
[2] https://coinpedia.org/crypto-live-news/dcg-backed-horizen-transitions-zen-to-erc-20-on-base-blockchain/
[3] https://www.horizen.io/