ZetaChain Shuts Down Layer 1 Blockchain in Favor of Solana

ZetaChain's token holders have voted to shut down their Layer 1 blockchain and migrate to Solana. The vote, which passed with a 99.4% majority, was held on Sunday and exceeded the required participation threshold of 40%. The proposal aims to simplify the project's infrastructure and allow developers to focus on Anuma, an AI app launched in February.

The ZetaChain team has been working on Anuma, which currently has over 300,000 users. They argue that they no longer need their own blockchain to pursue this project, and instead plan to move it to Solana with the ZETA token. The team claims that Solana's AI stack is missing an application layer, which Anuma aims to provide.

The proposal also addresses concerns about security, citing a recent attack on Cosmos EVM chains that resulted in $5.7 million in stolen funds. The team argues that maintaining a Cosmos SDK chain like ZetaChain would be too resource-intensive and vulnerable to attacks. The migration will see the ZETA token become a native Solana SPL token at a one-for-one rate.

The shutdown date has not been specified, but the project will continue to run while contributors work out the details of the conversion. A second proposal is expected to specify the block height for a balance snapshot and determine the shutdown block, as well as instructions for claiming tokens and withdrawing connected-chain assets.