ZetaChain Ditches Layer 1 Blockchain for Solana

ZetaChain token holders have voted overwhelmingly to shut down their Layer 1 blockchain and move ZETA to Solana, marking a significant shift in the network's direction.

The vote on Proposal 68, which ran for 72 hours from September 17, closed with 99.4% support and 58% voter participation, exceeding the required quorum of 40%. The migration plan was approved, but the shutdown will only occur after a second governance proposal is passed.

Under the approved proposal, ZETA will become a native Solana SPL token at a one-to-one conversion rate, retaining its ticker and total supply. Existing vesting schedules will remain unchanged, and no new ZETA tokens will be created as part of the migration.