What allocation of what was supposed to be “New Horizen” (ZK Verify) will be air dropped to ZEN holder? I’m trying to understand what we are voting on? It feels like a bait and switch. I’ve been running nodes for years waiting for something to happen and when a good idea comes around ZEN becomes some sidechain to the ZKV mainchain and I have no idea how much ZKV I will end up owning? At least with the other option of diluting ZEN I could understand the numbers. I feel like I’m driving blind. This uncertainty sucks.
yes sphere will be deprecated. it’s incompatible with the new tech stack. Browser wallets are better for web3 anyway.
correct no more forger nodes, and yes there were just implemented. however the new architecture, as proposed, would involve collator nodes which play an important role in the chain, and will represent an opportunity to earn rewards similarly to how forger nodes earn rewards.
Why Horizen is a much larger question with respect to what role it will play in ZK. I can’t answer it right now because there’s a lot of work going into preparing that messaging. if you check in discord, Rosario posted a picture that has some details in the background. There is an understanding that this needs answering, I just can’t provide the details, but they will be announced soon publicly.
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you’re voting on the technology stack and architecture described above, and ultimately a migration of ZEN from Horizen to this new stack. You will maintain all of your ZEN. ZEN supply and emissions don’t change. It’s very clearly spelled out in the proposal.
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Thank you for the response. Looking forward to what’s coming up.
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The ZenIP passes with 99.87% of the votes “for”
Congratulations everyone
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What is the next step? I see the proposal passed, but what exactly does the next step entail? When will we hear something about the tokenomics or supply distribution for what will hoepfully be coming sooner than later?
It seems like over the past year or so that what I mainly see when it comes to Horizen is just a bunch of votes and proposals? I try to follow as much as I can. Of course many projects will have propsals and votes, but I feel like that’s almost all I see with Horizen and this discourse. I do see a lot of ZkVerify updates and information recently though. I’m just trying to understand what the next set of actions are after this vote passed. I know this whole proposal and voting seemed to start back in March or April which is 2-3 months ago already and it just seems like it’s a bunch of voting and propsosing from my perspective. If I’m wrong or missing something big, please let me know.
Hello.
We are now on the Cooldown period. View the ZenIP process here.
This process guarantees project decentralization and security
I can’t say at the moment when the new tokenomics proposal will arrive. But the community will have a choice. The important thing (from my point of view) is to keep to a maximum offer of 21 million tokens, which is what has been validated.
I recommend following the development of zkVerify and the news brought by Horizen Labs.
Not sure why I didn’t see your response before, but thank you for the information.
I see that the vote passed overwhelmingly which is great. I guess I would still ask how Horizen is going to remain competitive and afloat with other ZK projects being more in the limelight right now or at least having more visibility at this time? I know Horizen Labs and Horizen build projects and technology, but I also think in this industry there needs to be an understanding of where the market is in terms of a bull or bear market, and I don’t think Horizen has ever really had a grasp on that. I know you have to build in all sorts of market conditions, but it doesn’t come across that there’s real urgency. I’m saying that based on the timeline that was posted in the proposal. That time estimate is not anything soon and it just seems like Horizen is going to be playing catchup for a year?
Is there anything we should really expect before the later parts of the timeline? Any sort of actual meaningful and impactful partnerships? Or is this just a pure waiting game for that eight month period?