Important stZEN Update: Immediate Action Recommended

Dear Horizen Community,

On July 27th, we were notified by the StakeHound team of an update regarding an unfortunate event involving one of their custody providers that affected stZEN (Please read our announcement about this issue for details). The StakeHound team has now decided on the event. Stakehound will discontinue the distribution of staking rewards for all staked tokens (except for stETH), including StakedZEN (stZEN), starting August 2nd, 2021. 

Please read StakeHound’s statement for further details.

Actions to Take for stZEN Holders

We strongly recommend that all stZEN holders should begin offboarding their stZEN by converting it to ZEN as soon as possible. It is recommended that you offboard your assets through the StakeHound/Altcoinomy stZEN:ZEN bridge (requires KYC and AML) on a 1:1 basis or through existing DeFi pools. 

For questions and issues regarding the usage of stZEN or converting stZEN to ZEN, please contact StakeHound at support@nullstakehound.com

Please follow StakeHound on Twitter for the latest updates regarding this issue. 

FAQ

Will I lose my stZEN?

No, all of your stZEN is safe and stZEN is still available for swapping even after August 2nd. You will not receive any staking reward after August 2nd by holding stZEN, because StakeHound is discontinuing the distribution of staking rewards. Off-boarding stZEN is strongly recommended. 

Can I withdraw my stZEN?

Yes, stZEN withdrawals are still available and it is recommended that you offboard your assets as soon as possible. 

Will I receive my stZEN staking rewards?

Stake rewards will no longer be available for stZEN as of August 2nd. 

Can I still use stZEN?

Yes, however, stZEN users will no longer be incentivized to hold stZEN starting August 2nd because StakeHound will stop reward distribution....

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