Horizen has launched its Layer 3 appchain testnet on Base, featuring DarkSwap, a privacy-focused DeFi protocol enabling stealth transactions and introduced as an ERC-20 asset.
This launch signifies a shift in privacy DeFi technology, impacting ZEN liquidity as it transitions to a compliance-oriented infrastructure on Coinbase’s Base, affecting related DeFi markets.
The launch of Horizen’s privacy Layer 3 appchain testnet on Base introduces DarkSwap, a private and bot-resistant DeFi protocol. This new infrastructure follows ZEN’s major migration to Base as an ERC-20 asset, enhancing composable privacy.
Horizen’s leadership, including co-founder Rob Viglione and CTO Alberto Garoffolo, facilitated the integration process. Engineering from Horizen Labs and security audits by Halborn/Cantina ensure safe deployment. ZEN supply increased by 7.8% after the migration, now at 17.25M.
Base Integration to Boost ZEN Liquidity
The integration on Base provides regulatory infrastructure and extends accessibility. The transfer of all liquidity and staking to Base aims to bring substantial inflows due to the unique offering of privacy DeFi on the platform.
This move positions Horizen’s ZEN alongside assets like ETH and USDC, boosting liquidity with the launch of ZEN/WETH and ZEN/USDC pairs. Prior privacy DEX products faced challenges that Horizen seeks to address using Base’s compliance stack.
Horizen’s Pioneering Move in Privacy DeFi
Horizen’s transition to a Coinbase-backed rollup is an unprecedented advancement for privacy DeFi protocols. Similar past launches, such as by Aztec Connect, have not taken place on Base, emphasizing Horizen’s unique approach.
Experts emphasize the potential of Horizen’s new appchain to enhance privacy in DeFi environments significantly. The adoption of ERC-20 ZEN on mainstream platforms represents an important step, leveraging compliance and regulatory frameworks.
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