ZenIP 42405 DRAFT: Directing the Horizen Foundation to Request a Migration Proposal for $ZEN and EON

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Preamble

ZENIP: 42405

Title: Directing the Horizen Foundation to Request a Migration Proposal for $ZEN and EON

Owner: Paul Mihalache

Discussions-To: Paul Mihalache, thesadu4ever@gmail.com

Comments-URL:

Status: Draft

Type: Non-Technical

Created: 05-15-2024

License: MIT

Abstract

This ZenIP constitutes a formal action by the Horizen community to direct the Horizen Foundation to request that its current technical service provider, Horizen Labs, develop a technical migration path for the EON blockchain and $ZEN token pursuant to the community discussion on this topic in recent weeks, and that Horizen Labs include an estimated timeline and cost. It is the desire of the Horizen community that this work be undertaken as part of Horizen Labā€™s existing services agreement with the Horizen Foundation as a technical provider to the Horizen ecosystem.

Any proposed migration path that Horizen Labs may develop as a result of this proposal would be subject to adoption by the community in a separate ZenIP.

Motivation

In April 2024, Rob Viglione, co-founder of Horizen, published a blog post outlining his vision for the future of the Horizen ecosystem. In this vision, Horizen would become a ā€œhome for zero-knowledge,ā€ with a new version of EON (ā€œEON 2.0ā€) serving as the execution environment for zk applications.

Achieving this vision entails migrating the $ZEN cryptocurrency token and the EON blockchain to a new technology stack, porting over $ZEN to serve as the gas and governance token of EON 2.0, and deprecating the current Horizen mainchain once safe to do so.

Meanwhile, Horizen Labs announced in early May that it will independently undertake the buildout of the upcoming proof verification chain in order to bring it to market more quickly. This makes the need to develop a migration roadmap for $ZEN and EON more urgent.

This ZenIP aims to gather community support to direct the Horizen Foundation to request that Horizen Labs develop a proposed pathway for this migration. This work should be done under Horizen Labsā€™ existing services agreement with the Horizen Foundation as it pertains to ongoing maintenance and development of the Zen and EON blockchains.

Specification

Should this ZenIP be approved by the community, the appropriate representatives of the Horizen Foundation will be responsible for formally requesting the proposal from Horizen Labs. The proposal should include an estimated timeline and cost for the project.

Should Horizen Labs undertake this work, the result would be a technical migration roadmap. Such a roadmap would be presented to the community and subject to approval in a separate ZenIP.

Rationale

This ZenIP 1) starts the process of determining the technical roadmap for migrating $ZEN and EON migration, while 2) doing so with the consultation of the community. It is important that the Horizen community be involved in this process as it is the most consequential upgrade to Horizenā€™s technology in years.

Security and Privacy Considerations

Given this ZenIP is to approve a directive to Horizen Labs, there are no major security or privacy considerations. However, it is worth noting that any migration path developed by Horizen must put security at its center, to ensure that the integrity of the blockchain, including token balances, is upheld.

16 Likes
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Agreed, I fully support this migration.

7 Likes
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LFG!! Glad this is finally happening

7 Likes
4

We need to keep up with the crypto status quo and this migration looks like the best way

5 Likes
5

Thanks for your support

4 Likes
6

We really need to close out the direction for Horizen and EON. Iā€™m excited for this proposal!

8 Likes
7

We all are! :muscle: 2024 will be such a great year!

6 Likes
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If I can speak for Horizen Labs, Iā€™ll just say that weā€™re fully on board with doing this and ridiculously excited to envision what EON 2.0 could look like within the broader vision. I know there are many ideas out there from different people, but itā€™s time to put a plan to paper and get the community excited about it.

8 Likes
9

I agree. This is a task that needs to be carried out quickly by having a person in charge as soon as possible.

5 Likes
10

Brainstorming is always good for creative flow! No matter whatā€™s the chosen pathā€¦ I am fully supportive

3 Likes
11

Yes this sounds great, excited and ready to vote for the migration!

6 Likes
12

ZenIP 42405 DRAFT - Directing the Horizen Foundation to Request a Migration Proposal for ZEN and EON :star2:
https://www.publish0x.com/mind-puzzle/zenip-42405-draft-directing-the-horizen-foundation-to-reques-xxvnjqv?a=pmbk1p5ezJ

5 Likes
13

supportļ¼ please quickly :heart_eyes:

5 Likes
14

I completely agree, we need to expedite, and after community approval, proceed with this process as quickly as possible.

4 Likes
15

The community support is high so this will hopefully go to snapshot quickly

4 Likes
16

Support migrations to EON, but can we get a proposal for ZEN changing tokenomics and be used as new token for the verification protocol as well?

2 Likes
17

That topic has been discussed extensively in other threads on Discourse. What is clear is:

  • the tokenomics of $Zen wonā€™t change

  • $Zen will migrate to a new blockchain (the new version of EON), which will have a connection with the proof verification chain <<ā€“what this will actually look like is what we are asking HL to flesh out

  • the proof verification chain should get its own token and that will be part of a new ecosystem, but Rob is supportive of the idea that the Horizen community should be rewarded for its support of the proof verification chain

7 Likes
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Just hate the idea of 2 tokens. As Labs is going to be service provider for 2 chains, dealing with exchanges for 2 tokens etc, ZEN just ending up as pure comunity projects with not much chance for a network effect and being a good utility token except gas on EON. I would imagine New horizen token is probaly going to be evm capable also? So over time why should we speculative on ZEN and not new token which can do the same and will have seemingly much more backing by professionals firms. ā€œJustā€ to keep the idea of fair lunch and fixed tokenomics

2 Likes
19

Why would you imagine that a new token for the proof verification chain would be EVM compatible if itā€™s built on substrate?

As for $Zen, it would be the native token of the new version of EON, which will have tons of built in TVL at launch assuming the migration path ports over balances, which I think is a safe assumption. This means a nice treasury for funding ZK projects & growing the ecosystem more broadly. Plus, if $Zen holders are eligible to claim some supply of a future PV token, thatā€™s an attractive proposition

5 Likes
20

I am fully supportive as well. HL is the best to perform the migration, I canā€™t wait to have the roadmap for this

3 Likes