ZetaChain Abandons Layer-1 Blockchain for Solana Migration
ZetaChain holders have voted to wind down their project's layer-1 blockchain and move its native ZETA token to Solana. The governance proposal, which passed with 99.4% support and 58% participation, exceeded the network's 40% quorum requirement. Under the plan, ZETA will become an SPL token on Solana through a 1:1 conversion, maintaining the same ticker and total supply.
The decision to abandon their own layer-1 blockchain was driven by the project's focus on Anuma, its private-focused artificial intelligence application. The team stated that running its own blockchain no longer supports this focus, allowing them to redirect resources from maintenance to development.
Other crypto projects have also announced plans to shut down standalone blockchains in recent months. BounceBit and Harmony are notable examples, with BounceBit migrating its token to BNB Smart Chain at a 1:1 ratio after a security exploit, and Harmony proposing a shutdown of its layer-1 and migration of its native ONE token to Ethereum.