Deep Dive
1. Migration to Base & ERC-20 Token (July 2025)
Overview: This was not a simple code patch but a complete architectural shift. Horizen migrated its native ZEN token from its original Layer 1 blockchain to become a standard ERC-20 token on Base, Coinbase's Ethereum Layer 2. This move initiated Horizen 2.0, transforming the project into a privacy-focused Layer 3 appchain.
The legacy Horizen mainchain and EON sidechain were permanently shut down. The migration enabled immediate integration with major decentralized exchanges on Base, like Aerodrome and Uniswap, significantly expanding ZEN's liquidity and DeFi accessibility. The circulating supply increased to 17.25 million ZEN (from 16 million), while the maximum supply remained capped at 21 million.
What this means: This is bullish for ZEN because it moves the token into a much larger and more active ecosystem, making it easier to trade, use in DeFi, and build upon. Users benefit from faster transactions, lower fees, and seamless compatibility with the vast array of Ethereum-based wallets and applications. However, it represented a fundamental change that required users on unsupported exchanges to take manual action to claim their new tokens.
(CoinMarketCap)
2. Mainnet Node Software Upgrade 5.0.7 (June 2025)
Overview: This was a critical maintenance release for node operators. The Horizen team released ZEN version 5.0.7 for mainnet and testnet nodes, requiring all operators to upgrade before June 11, 2025.
The update did not introduce new features via a hard fork but was essential for network stability and preparation for the impending migration. Failure to upgrade would have caused nodes to fall out of consensus after the deprecation of the previous version (5.0.6) at a specific block height.
What this means: This update was neutral but necessary for ZEN's infrastructure. It ensured the network remained secure and functional for all users in the lead-up to the major migration. For everyday holders, it meant a smooth transition behind the scenes with no direct action required on their part.
(Bitget)
Conclusion
Horizen's codebase has undergone a foundational transformation, pivoting from an independent blockchain to a specialized privacy layer within the thriving Base and Ethereum ecosystems. This strategic shift aims to enhance utility, liquidity, and developer reach. With the core migration complete, what new privacy-first applications will emerge on the Horizen 2.0 appchain?