Horizen's current design is a structure that moves away from the past independent PoW series L1, EON EVM chain, and ZEND mainchain models to the EVM L3 and ZEN ERC-20 models on the base. The official migration document explains that the existing Horizen mainchain and EON's ZEN balance have been transferred to Base's ERC-20 smart contract, the existing chain will be stopped, and coin transfers will be managed through Base's ERC-20 calls. This transition is a choice to rely on Horizen's security, liquidity, and developer experience on Base and Ethereum settlement structures, while reorganizing its own economic design with ZEN's...
Horizen has completed its Base L3 pivot, but remains in expansion while native TVL, revenue, and app usage are unproven.
Investment View
Investors should track VELA production, app traction, staking self funding, DAO treasury transparency, and differentiation on Base.