Dear Community,
An AMA happened on Horizen Twitter on January 5th.
The recorded AMA is here:
https://twitter.com/horizenglobal/status/1743270132783169591
On this topic you’ll have a recap on the questions and answers from the AMA and already answerd questions on Discord.
Thank you all for your support.
Is ZEN a privacy coin?
ZenIP 42204 was voted and implemented in 2023 and removed the possibility for users to send new funds on shielded pools.
Unfortunately, it appears that this is not enough for the exchanges today. This is why, at the present time, most of the teams are focused to remove totally the privacy on Horizen. A new ZenIP is coming on this topic very soon. You can see the draft on Discord and on another topic on Discourse.
Was the team in contact with OKX before the announcement?
Yes, on this question, Erica provided a great answer on Discord:
“When an exchange lists a token, the exchange assigns a listing manager to the token project. For example, when ZEN was listed on Binance, we were assigned to a Binance Token Listing Manager. We are in consistent contact with our listing managers and provide updates to them. Because CEXs are often very large companies, there may be internal miscommunications on their side, we do our best to correct these miscommunications by following up on any incorrect information that is released on their side. I personally believe that is what the confusion on the OKX side was, a miscommunication on the OKX side that led to them believing that ZEN is still a privacy coin. The team has really pulled together and is all hands on deck to address the misinformation though.”
As soon as we had the information about this surprising delisting, several team and leadership team members pushed the communications with OKX to get more details on the delisting and how we can resolve that. At this moment, we don’t have news to share about that, but communication in still ongoing with OKX teams.
Why did Binance added you to the “Monitoring tag list?
Here, I’ll take the answer from Erica on Discord:
“Because of the privacy concerns with the very limited access to shielded pools that are present today, the team has been working with the Binance team directly to find ways ways that satisfy Binance’s requirements regarding privacy to prevent further delistings. We have had a couple of calls and our tech team created the latest release, based on their feedback.
The release mentioned above is Zend v.4.2.0-rc1 - this is currently a testnet release that is meant to address Binance’s concerns and is currently being tested by the Binance team to ensure it meets their requirements. It was submitted to them on December 15th right before the holiday season, so the testnet release is taking a little longer to be tested on their side. I followed up with them today, to see if they had concluded testing, but have not received a response.
After we satisfy their requirements, we will refresh our efforts pushing for relisting in areas that were delisted previously. We want to ensure that we address their current concerns, before we push for a relisting, if that makes sense.
Feel free to let me know if you have any additional questions regarding the Binance listings. While we are under MNDA, I will do my best to address your concerns.”
I’ll add that they listed us on the tag, knowing that we have great chances to be removed from this tag once the hardfork is fully tested and on mainnet. Know also that since the announcements, we are working on a hardfork that goes even further on the removal of privacy features, to meet every exchange compliance.
Why Horizen is still mentioned ad a privacy coin on different platforms (CMC, Coingecko, Binance)?
We are in the process of having this information updated. The processes can be slow, but we have made progress with CMC and CG with Binance lagging behind. We ask that the community help with these efforts, requesting that Binance adopt the correct, updated messaging for Horizen.
Note that CMC was updated meanwhile as the work was in progress.
Today, CMC and Coin Gecko are updated!
When will the ZenIP 42207 be applicable it passes?
We have a 5 weeks implementation once the ZenIP passes.
The hardfork will have to go through intense testings before its implementation on mainnet, scheduled for mid-February.
Will ZEN be listed soon on a new exchange?
Yes! ZEN is in the final stage for listing ZEN with withdrawals directly to EON on BitMart. There are a couple of other exchanges currently doing a technical review to determine viability of a listing.
CEX listings are just one part of the ZEN access strategy that we have been creating. The other prongs of the strategy include increasing ZEN with EON withdrawals on different on-ramps and bringing WZEN to other ecosystems!
When will Horizen2.0 be completed?
Assuming approval of the forthcoming ZENIP, we expect Horizen 2.0 / New Horizen to be see a technical release within the year.
What are the strengths of Horizen 2.0 regarding RWA? Q2. Can Horizen 2.0 serve as a bridge between the enterprise and Web3? Why would an organization choose Horizen?
In terms of Real World Asset tokenization (RWAs), we are working hard on ensuring they’re an important part of our ecosystem moving forward. Not just with the next iteration of Horizen but on EON today and we’ll have some exciting announcements around that soon. For RWAs to be successful a lot has to happen, from open, cross-chain liquidity to issuers and protocols that can meet the demands of regulatory regimes to specialised infrastructure inclusive of oracles, on-ramps, and so on.
The New Horizen vision will help drive RWAs forward through its intra and inter-chain connectivity and its ability to be the security and settlement layer for cost-effective roll-ups that match the needs of financial institutions and issuers (amongst many other categories).
Do you have other questions?
Post them under this post and we’ll provide an answer!