March 8, 2024

ZenIP 42401 – Updating Proposal and Quorum Thresholds

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This ZenIP proposes lowering the thresholds required for:

1) formally submitting both technical and non-technical improvement proposals; and

2) achieving a quorum of votes for both technical and non-technical improvement proposals.

These changes would increase accessibility for community members to put forth proposals and would bring quorum requirements in line with the broader web3 industry standards. Please note that these proposed changes apply to both Zen improvement proposals (ZenIPs) and EON improvement proposals (EONIPs).

ZenIP 42401 aims to make it easier for community members to participate in governance by lowering the $ZEN threshold required for posting a non-technical ZenIP/ EONIP for community vote, as well as lowering the quorum threshold for a vote to be considered valid.

The current thresholds for both ZenIPs and EONIPs are as follows:

Technical:
- Submit proposal for vote: 200,000 $ZEN held or delegated
- Vote quorum: 10% of circulating supply participating
Non-Technical:
- Submit proposal for vote: 100,000 $ZEN held or delegated
- Vote quorum: 5% of circulating supply participating

This ZenIP proposes the following changes to the thresholds:

Technical:
- Submit proposal for vote: 100,000 $ZEN held or delegated (vs. 200,000 $ZEN currently)
- Vote quorum: 5% of circulating supply participating (vs. 10% currently)
Non-Technical:
- Submit proposal for vote: 25,000 $ZEN held or delegated (vs. 100,000 $ZEN currently)
- Vote quorum: 3% of circulating supply participating (vs. 5% currently)

Again, if ZenIP 42401 passes, these changes will apply to both ZenIPs and EONIPs. There are also no changes proposed to the majority requirements for either proposal type (i.e., 67% of votes in favor for technical proposals, simple majority in favor for non-technical proposals).

ZenIP Voting Timeline

ZenIPs are public proposals for the Horizen community to approve or decline. We encourage you to join the discussions on Discord, Discourse, and Twitter on ZenIP 42401 and share your thoughts on the proposal. We also encourage you to read the ZenIP 42401: Updating Proposal and Quorum Thresholds post on Discourse to get a complete understanding of this proposal.

Voting on ZenIP 42401 will start on Tuesday, March 12th, 2024 at 12pm EST and end on Friday, March 15th, 2024 at 12pm EST.

The Horizen DAO voting is done on the Horizen EON chain, using Snapshot and Discourse for governance. The snapshot is taken once voting begins.

Who is Eligible to Vote?

Any $ZEN holder can vote on improvement proposals, and those who hold (or who have been delegated) the requisite amount of $ZEN may put forth proposals to the community.

Voting power is determined by the amount of $ZEN you hold on the Horizen mainchain and on the Horizen EON chain. Therefore the more $ZEN you hold, the more voting power you have.

To see the vote instructions detailed tutorial, please have a look to the dedicated blogpost. Below we cover an overview of how to vote.

How to vote – Instructions

Your vote will be weighted regarding the tokens you hold, either on the Horizen mainchain (the historic one) or Horizen EON (the EVM chain).

If you already linked your mainchain address for a previous vote, you won’t have to connect it again.

Connect your wallet and verify if it’s properly linked here.

The vote happens on Snapshot and is done through MetaMask and therefore via the Horizen EON network.

Before going through the tutorial, we assume that the Horizen EON network is properly configured on your MetaMask wallet. If not, please follow this guide.

A/ You already voted and linked you mainchain address

Then it’s very simple.

We still encourage you to verify if your mainchain address is properly linked on the Horizen Governance app.

If it’s not linked, follow the tutorial just below.

If it’s linked, just head to Snapshot on the Horizen governance page, and vote for the proposal when it’s published and available.

B/ You have to link your mainchain address

1/ First, make sure to have some ZEN on Horizen EON, you will need some gas tokens in order to interact with the EVM chain, link your address, and vote.

2/ Now it’s time to link your mainchain address(es). Any ZEN on Arizen, Sphere By Horizen, ZEN wallet, Swing wallet, or multi-sig wallets, Ledger, ZEN on exchanges are usable. Here, we will focus on Sphere By Horizen. If you need assistance for non Sphere By Horizen wallets linking, please have a look to this post on the Horizen forum.

You’ll get a more detailed tutorial with a screenshot in the Governance doc, but here are the steps:

Make sure Horizen EON is configured on MetaMask and to have some ZEN on there thanks to the steps stated above.
Open the Horizen Governance page.
Click Connect Wallet. The EON wallet (MetaMask) appears in the top-right corner. Once connected, the EON address field is automatically filled with the connected EON address.
- Note: If the EON wallet (MetaMask) was previously connected to the Horizen Governance app, then it is automatically connected.
Open Sphere By Horizen and navigate to the mainchain wallet address you want to link to the EON address. Click the Information icon to view your address.
In the Horizen Governance app, on the Linked Addresses pane, click Link Mainchain Address.
The Link Address pop-up appears. Paste the Sphere wallet address in the Mainchain Address field.
Copy your EON address.
In Sphere, go to the Addresses pane. Click the compose icon (hand holding pencil).
The Sign message with address pop-up appears. Paste the EON address in the message field and click on Create signature. The mainchain signature appears below the message field. Then click on COPY TO CLIPBOARD.
In the Horizen Governance app, on the Linked Addresses pane, paste the signature in the Mainchain Signature field.
Click Link. The Pending pop-up appears stating that the transaction is being submitted.
The MetaMask Notification appears. Read the information details. Click Confirm.
The Linked Address appears showing that the EON Address and Mainchain Address are linked
You can repeat the process for other addresses.

Now that it’s linked, just head to Snapshot on the Horizen governance page, and vote for the proposal when it’s published and available.

We also have a helpful video tutorial here with instructions on how to vote for the Horizen DAO.

Helpful Links

If you need assistance, please reach out to us on the Horizen Discord, and be sure to join the Horizen DAO discussion on Discourse!