ZetaChain Migrates ZETA Token to Solana Network Amid Shift in Focus

ZetaChain's decision to migrate its native token, ZETA, to the Solana network has been approved by its holders. The proposal to shut down ZetaChain's own blockchain and transfer ZETA tokens was voted on through the ZetaChain governance portal, with a resounding 99.4% approval rate.

According to the vote results, participation exceeded the required quorum of 40%, with 58% of holders casting their votes in favor of the proposal. The opposing views and abstentions accounted for only 0.3% each.

The decision does not mean that ZetaChain's network will shut down immediately or that the token migration is complete. A second governance vote will be held to implement the migration, which will determine the block at which ZetaChain will shut down, how tokens will be claimed, and how assets on connected chains will be withdrawn.

The plan excludes ZETA tokens on Ethereum and BNB Chain, and the token's symbol and total supply will remain unchanged. Vesting schedules will also remain intact.