ZetaChain Abandons Layer-1 Network to Focus on AI

ZetaChain has decided to abandon its Cosmos SDK-based network and migrate its native ZETA token to Solana, as an SPL token. This move comes after a governance proposal exceeded the required quorum of 40%, with 99.4% of votes in favor of the migration.

The conversion will be at a 1:1 ratio, maintaining the same ticker and total supply. However, the approval does not immediately determine the shutdown process.

ZetaChain justified its decision by stating that maintaining a Cosmos SDK-based network is no longer compatible with its new strategic focus on Anuma, a privacy-oriented artificial intelligence application.