Horizen (ZEN): how it works, supply and reviews
In short
- Type
- EVM-compatible layer-3 rollup (OP Stack) that settles on Base, which settles on Ethereum
- Maximum supply
- 21 million ZEN, unchanged by the migration to Base
- Risks and caveats
- Horizen depends on Base and Ethereum for security and settlement.
- Checked
- 28 October 2026
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Key facts
- Ticker
- ZEN
- Network
- token on Base
- Mining algorithm
- Equihash
- Official site
- horizen.io
- Whitepaper
- downloads.horizen.io/file/web-assets/Horizen+Whitepaper+v1.0.0.pdf
- Source code
- github.com/HorizenOfficial
Data: CoinGecko, 2026-10-27. Only projects that still trade with meaningful volume are listed.
What is Horizen
Horizen is a privacy-focused blockchain ecosystem that runs as an EVM-compatible layer-3 network built on Base. Its token, ZEN, began in 2017 as a fork of Zcash and since 23 July 2025 exists as an ERC-20 token on Base, used for governance, staking and ecosystem utility.
Network and consensus
| Parameter | Details |
|---|---|
| Type | EVM-compatible layer-3 rollup (OP Stack) that settles on Base, which settles on Ethereum |
| Runs on | ZEN is an ERC-20 token on Base, bridged to Horizen Chain via LayerZero |
| Consensus | No own consensus: security is inherited from Base and Ethereum; ZEN staking does not secure the chain |
| Launched | ZEN dates back to 2017 as a fork of Zcash; migrated to Base on 23 July 2025 |
| Smart contracts | Yes; standard Solidity contracts with optional confidential execution through Vela (TEE) and zkVerify |
| Gas token | Gas on Horizen Chain is paid in ETH, not ZEN |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | 21 million ZEN, unchanged by the migration to Base |
| Initial distribution | No ICO and no pre-mined supply |
| Staking rewards | Staking pays ecosystem fees in ZEN from several sources; it is not a fixed-yield product |
What ZEN is used for
- Voting on Horizen DAO proposals (ZenIPs).
- Staking for a share of ecosystem and protocol fees.
- Use in DeFi and applications on Horizen and Base.
- ZEN is not used to pay gas; gas is paid in ETH.
Who develops and governs Horizen
- Governance
- Horizen DAO: ZEN holders vote on ZenIP proposals via Snapshot; technical proposals need 5% quorum and a 67% majority
- Developer
- Horizen Labs builds Vela, the confidential-compute product used on Horizen
- Legal entity
- A MiCA crypto-asset white paper for ZEN is filed with Germany as home member state (BaFin)
- Open source
- Yes; migration tools and documentation are public on GitHub
History
| Date | Event |
|---|---|
| 2017 | ZEN launched as a fork of Zcash. |
| February 2025 | Horizen DAO voted to move Horizen to Base. |
| 23 July 2025 | ZEN migrated from the Horizen mainchain to Base as an ERC-20 token. |
| 25 November 2025 | First MiCA crypto-asset white paper for ZEN published (updated 1 June 2026). |
Security and audits
- Horizen states that a security review of the ERC-20 contracts was completed before the migration to Base.
- As a rollup, Horizen inherits the security of Base and Ethereum rather than running its own validator set.
Official ZEN contracts
| Network | Contract address |
|---|---|
| Base | 0xf43eB8De897Fbc7F2502483B2Bef7Bb9EA179229 |
| Horizen | 0x57da2D504bf8b83Ef304759d9f2648522D7a9280 |
ZEN is an ERC-20 token on Base; on Horizen Chain it is a LayerZero OFT token. ZEN still on the legacy Horizen mainchain can be claimed on Base through the official claim portal.
Risks and caveats
- Horizen depends on Base and Ethereum for security and settlement.
- ZEN staking rewards are not fixed and depend on ecosystem revenue sources.
- ZEN left on the legacy Horizen mainchain must be claimed to be usable on Base.
Official links
- Website: www.horizen.io
- Docs: docs.horizen.io
- Block explorer: explorer.horizen.io
- Source code: github.com/HorizenOfficial
- Governance forum: docs.horizen.io/governance/overview/about
- Whitepaper: horizen.micarwhitepapers.eu
Questions and answers
What is Horizen (ZEN)?
Horizen is a privacy-focused, EVM-compatible layer-3 network built on Base. ZEN is its governance and utility token, an ERC-20 on Base.
What is the maximum supply of ZEN?
ZEN has a fixed maximum supply of 21 million, unchanged by the 2025 migration to Base. There was no ICO or pre-mine.
How does Horizen work?
Horizen is an OP Stack rollup that settles on Base, which settles on Ethereum. Gas is paid in ETH, and ZEN staking does not secure the chain.
Is ZEN regulated?
A MiCA crypto-asset white paper for ZEN has been published, with Germany's BaFin as the competent authority of the home member state.
Sources
- CoinGecko — Horizen
- Horizen — ZEN token
- Horizen — ZEN Migration Hub
- Horizen Docs — What is Horizen Chain?
- Horizen Docs — The L3 Architecture
- Horizen Docs — ZEN Token
- Horizen Docs — Gas on Horizen
- Horizen Docs — Voting Process
- Horizen — MiCAR whitepaper registry
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