Deep Dive
1. Token Migration to Base (24 July 2025)
Overview: This was not just a token swap but a complete architectural overhaul. Horizen shut down its original blockchain (mainchain and EON sidechain) and relaunched ZEN as a standard ERC-20 token on Coinbase's Base network.
The migration makes ZEN fully compatible with the Ethereum ecosystem, allowing seamless trading on major decentralized exchanges like Aerodrome and Uniswap. It also marks the beginning of Horizen 2.0, a privacy-focused Layer 3 appchain built on top of Base.
What this means: This is bullish for ZEN because it drastically improves the token's utility and accessibility. Users benefit from faster transactions, lower fees, and direct access to a vast ecosystem of DeFi applications. The move also strengthens ZEN's regulatory positioning by aligning with Coinbase's compliant infrastructure. (Source)
2. Mainnet Node Upgrade (15 July 2025)
Overview: The team released node software version ZEN 5.0.7, which was a mandatory update for all node operators on the legacy Horizen network. This release prepared the network for its eventual deprecation and ensured a smooth transition for the migration.
The update did not introduce new features via a hard fork but was critical for maintaining network stability and security in the final weeks before the chain was discontinued.
What this means: This update was neutral but essential for ZEN's ecosystem. It ensured network participants could operate reliably right up to the migration date, preventing service disruptions and protecting user funds during the transition period. (Source)
3. Developer Grant Program Launch (10 July 2025)
Overview: To bootstrap its new ecosystem on Base, Horizen launched a five-year, 1 million ZEN developer funding program. Managed by Thrive Protocol, the program allocates grants to projects focused on confidential DeFi, privacy-preserving AI, gaming, and governance.
Funding is milestone-based, meaning developers receive tokens as they deliver working products and achieve user growth targets, aligning incentives with tangible results.
What this means: This is bullish for ZEN because it directly fuels ecosystem growth. By financially supporting developers, Horizen increases the likelihood of innovative, privacy-focused applications being built on its new chain, which drives long-term demand and utility for the ZEN token. (Source)
Conclusion
Horizen's latest codebase evolution centers on its successful migration to Base, a strategic pivot from an independent blockchain to a specialized privacy appchain within a major Ethereum ecosystem. This foundational shift sets the stage for enhanced scalability, developer activity, and user adoption. With the core migration complete, how will the rollout of its privacy-first Layer 3 features and new staking mechanisms shape ZEN's utility in 2026?