Overview:
This proposal seeks approval for deploying Synapse Bridge onto Horizen EON (Ethereum Open Network), the first public Proof-of-Stake (PoS) chain within the Horizen ecosystem. Horizen EON is a fully EVM-compatible smart contracting platform designed to be extensible, secure, and generalized.
This deployment aims to establish connectivity between the Horizen Ecosystem and a wide range of popular Layer 1 and Layer 2 chains connected to the Synapse Bridge. The EON public Mainnet launch is scheduled for Q4 of this year. Horizen has been building Web3 applications since 2017 and has organized a comprehensive support network for EON dApps, including developer support, grants, and TVL provided via third-party partners.
About Horizen EON:
Horizen is a network of blockchains powered by one of the largest node networks, offering zero-knowledge capabilities. Horizen's cross-chain protocol, Zendoo, enables interoperability, enabling developers to build customizable and interoperable blockchains and applications within the network.
EON, Horizen’s first smart contracting sidechain, combines the flexibility of the EVM with the power and customizability of Zendoo, providing developers with the benefits of both the Ethereum and Horizen ecosystems. Currently, Horizen EON operates on its permanent public testnet, Gobi. Prior to Gobi, EON underwent testing phases on Dune and the Yuma Testnet, where developers actively participated in testing features and identifying bugs.
Despite Horizen EON being a recent development, the Horizen network has a considerable history in the web3 space. Withstanding multiple crypto market cycles, Horizen has continuously prioritized security and privacy.
Horizen's journey began in May 2017 with the launch of ZenCash, a cryptocurrency emphasizing privacy. Over time, Horizen's mission expanded beyond its initial scope, aiming to become the most secure interoperable blockchain ecosystem, maintaining firm commitment to security and privacy while being highly customizable to accommodate diverse real-world use cases. The subsequent rebranding to Horizen marked its evolution from a cryptocurrency to a zk-enabled network of interconnected blockchains. Horizen continues to integrate new zero-knowledge capabilities into the network, further solidifying its position as a leading network of interconnected blockchains.
Motivation:
The upcoming Mainnet launch of Horizen EON aims to provide a fully functional ecosystem with comprehensive integrations, essential tools, infrastructure, and user-facing protocols.
Horizen EON prioritizes delivering an exceptional developer experience through the delivery of user friendly tools, creation of a dedicated support team, and comprehensive documentation, setting it apart from other ecosystems that may lack comprehensive developer support beyond grants. By emphasizing developers and community members as crucial stakeholders, Horizen EON aims to become a leading EVM for builders.
Deploying the Synapse Bridge onto EON before the mainnet launch positions Synapse as a preferred bridge for users bridging assets into and out of the Horizen Ecosystem. This proposal offers mutual benefits, granting Synapse an early mover advantage in the expanding EON ecosystem. It presents an opportunity for significant growth and success for both Synapse and the Horizen ecosystem.
Furthermore, deploying the Synapse Bridge on EON could establish a long-term strategic partnership, as EON is the first of many sidechains likely to require bridge solutions like Synapse in the future. The bridge could play a crucial role in making EON the most user-friendly and developer-friendly EVM by facilitating easy onboarding into the ecosystem.
Chain Growth Assessment and Metrics:
Horizen’s new chain is highly anticipated by its large community and we anticipate strong growth metrics over the coming months, based on testnet usage and our active following:
EON Testnet Statistics
Deployed smart contracts: 1,079
Wallet addresses: 31,726
Total transactions: 1,192,490
Social Metrics
Twitter: 144,000
Newsletter: 225,146
Discord: 15,306
Implementation:
The ZEN Yield Fund, managed by Wave Digital Assets, is designed to provide dApps on EON with TVL support. The Fund’s goal is to provide $1 million in TVL to Synapse upon implementation of EON support. We believe that this will instantly create a positive user experience when bridging to EON using Synapse, fostering demand and therefore attracting more TVL depositors.
In addition, the ZEN DAO will set up a small grant pool to incentivize early deployments on Horizen EON. While there are currently no further planned incentives, grants, or awards pre-allocated for any partnerships, or deployments on Horizen EON, it is anticipated that in the event that larger funding or reward pools are established in the future, a portion would be allocated to retroactively reward early partners and collaborators.
Please note that this statement expresses an intention rather than a legally binding commitment, contingent upon the feasibility and availability of resources in the future.
Links:
https://www.horizen.io/
https://eon.horizen.io/
https://wavegp.com/
