ZetaChain Abandons L1 Blockchain in Favor of Solana

ZetaChain has announced plans to shut down its Layer 1 (L1) blockchain and migrate its native token, ZETA, to the Solana blockchain.

The decision was made after a community vote on September 20, where 99.4% of participants approved the proposal with a turnout of 58%. The migration will see the token issued under the SPL standard and exchanged at a 1:1 ratio without altering its total supply.

The date for halting the network will be determined by a separate vote after coordinating with exchanges. Until the transition is complete, the ZETA network and staking will continue to operate.