ZetaChain Abandons Layer 1 Network, Migrates ZETA to Solana

ZetaChain's Layer 1 network is shutting down after token holders voted to discontinue it. The move follows a proposal approved by 99.4% of participating votes on September 20, with a participation rate of 58%. ZETA tokens will be migrated to Solana as native SPL tokens in a one-to-one ratio.

The migration does not include tokens held on Ethereum or BNB Chain. Existing vesting schedules and token supply remain unchanged. A second governance proposal is expected to outline the technical details, including snapshot block heights and claims process.

Behind this decision lies Anuma, a private AI application launched by ZetaChain in February 2023 that has attracted over 300,000 users. The project's pivot from blockchain infrastructure to consumer applications made an independent Layer 1 less necessary.