other_material
confidence high
sentiment neutral
materiality 0.60
Grayscale Horizen Trust to migrate ZEN tokens to Base blockchain by July 23, 2025; viability review by Dec 2025
Grayscale Horizen Trust (ZEN)
- Migration from Horizen mainnet to Base blockchain (Layer-2) effective July 23, 2025.
- Each ZEN token held by trust will become a ZEN Base Token (ERC-20) after migration; no shareholder action needed.
- Circulating supply to increase from ~16M to ~17.25M ZEN Base Tokens; 0.75M to DAO, 0.5M to Foundation.
- Coinbase Custody Trust Company to act as custodian for ZEN Base Tokens post-migration.
- Sponsor to evaluate token adoption and trust viability by December 2025; may discontinue trust.
item 7.01