On January 4, 2024, a proposal was made in ZenIP 42207 to completely remove the shielded pool on the Horizen mainchain. The community approved the proposal and votes took place between January 8 and 11. At 5 p.m. UTC on January 11, 2024, the vote for ZenIP 42207 ended, with a resounding 99.97% voting “for” and 0.03% voting “against”. This ZenIP represents a tactical shift, continuing the depreciation of protected pool access started with ZenIP-42204. It highlights Horizenis moving away from privacy-focused features in response to evolving requirements for privacy tokens.
The proposal details major changes, including completely disabling protected transactions and deprecating associated RPC functions. Before the hard fork, a user-friendly migration path with tools and instructions ensures a seamless transfer. The deactivation of the protected pool will take place via a network upgrade, which will be preceded by extensive testing, community participation and transparent information.
With a planned release in January, Zen 5.0.0 is expected to launch on mainnet in February 2024. Shielded transactions, such as transferring money from shielded to transparent addresses, will no longer be feasible once they will be put online. ZEN 5.0.0 goes beyond the hard fork first revealed with ZEN 4.2.0-rc1, as it eliminates the protected pool.
Users are strongly recommended to use Sphere by Horizen or zen-cli to unblock money from private addresses to their transparent addresses by February 2024. It will no longer be able to transfer money from the protected pool to another address after this date, and it is not advisable to directly raise the shield and exchange money to exchange deposit addresses. Reflecting Horizen’s community-centered philosophy, ZenIPs are open to community approval or disapproval. Users are welcome to participate in conversations on Discord, Discourse, and Twitter regarding ZenIP 42207. For an in-depth understanding, it is strongly advised to read the entire ZenIP on GitHub.
ZenIP 42207 was put to the vote from January 8 to 11. Voting for Horizen DAO is open to all $ZEN holders and takes place via Snapshot and Discourse for governance. Voting power emphasizes democratic decision-making within the community and is correlated to the amount of $ZEN held on both the Horizen EON chain and the Horizen main chain.
How to vote – Instructions
- To get started, visit the Horizen EON web app Horizen DAO Governance Website.
- The next step is to connect your web3 wallet.
- Connect your Horizen EON to your $ZEN mainchain Horizen address. To vote using your $ZEN mainchain, you must have $ZEN on a Sphere mainchain address and link that address to your MetaMask Horizen EON chain address. Your Sphere wallet only needs to be linked once. You can vote in subsequent rounds using the same wallet.
- Verify that your MetaMask address contains enough ZEN to cover the cost of gas.
- Voting is done using Snapshot once your mainchain ZEN address is linked to Horizen EON and you have enough ZEN in your MetaMask to cover gas fees.
- If you haven’t already, join the Horizen Foundation space on Snapshot to receive alerts on upcoming ZenIP votes.
The shielded pool will now be completely removed from the Horizen mainchain, in line with the project’s strategic move away from privacy-focused features in response to evolving privacy token laws, thanks to this successful vote.
The adoption of ZenIP 42207 marks a pivotal moment for Horizen as it reflects its proactive approach to adapting to the changing landscape of privacy token regulation. This strategic transition highlights Horizen’s commitment to compliance and transparency while maintaining its core values of community involvement and decentralized governance. The introduction of ZEN 5.0.0 is expected to be a major network upgrade.