Proposal 68 Passes with Near-Unanimous Support ZetaChain token holders have voted to shut down the project's Layer 1 blockchain and migrate $ZETA to Solana. Proposal 68 closed at 10:58 a.m. E
ZetaChain token holders have voted to shut down the project's Layer 1 blockchain and migrate $ZETA to Solana. Proposal 68 closed at 10:58 a.m. ET with 99.4% in favor, according to the project's governance portal. Participation was 58%, exceeding the 40% quorum.Opposition and abstentions were 0.3% apiece.
The ZETA token is to become a native Solana SPL token at a one-for-one rate, retaining its ticker and total supply.Vesting schedules remain unchanged, and the proposal excludes ZETA on Ethereum and BNB Chain.One technical adjustment involves decimals. Native ZETA currently uses 18 decimal places, while the proposed Solana token would use nine, with balances rounded down to the supported precision during conversion.
Though the vote passed, the proposal leaves ZetaChain running while its contributors work out the full details of the conversion.A second proposal will specify the block height for a balance snapshot and determine the shutdown block, along with instructions for claiming tokens and withdrawing connected-chain assets. ZetaChain says it will not put that to a vote until exchanges have confirmed their swap arrangements, and has not given a firm date.
ZetaChain stated that the project will focus on its AI application Anuma, launched in February, and believes it is no longer necessary to maintain an independent Layer 1 based on the Cosmos SDK.The project counts more than 300,000 Anuma users per its self-reported numbers, and a million requests across 35 AI models. The team cited transaction speed, lower costs, liquidity, and AI-agent infrastructure as reasons for choosing Solana.
ZetaChain raised $27 million three years ago to help connect competing networks. The decision to abandon its own blockspace, validator set, and gas economy marks a rare move in the crypto industry. ZETA's price has dropped 99% from its all-time high of $2.85 in 2024 to around $0.03.
SourcesThe Block: ZetaChain votes to shut down Layer 1 network and move ZETA to SolanaChainCatcher: ZetaChain passed the Layer 1 proposal with 99.4% supportCrypto.news: ZETA Solana migration wins 99.4% support in vote
