ZetaChain approves plan to wind down L1 and migrate ZETA to Solana

  • ZetaChain approved Proposal 68 to migrate native ZETA to Solana and wind down its Layer 1.
  • Proposal 68 received 99.4% support, with 58% participation exceeding the 40% quorum.
  • ZetaChain requires exchange support before a second vote sets migration and shutdown details.

ZetaChain’s Proposal 68 passed on Sept. 20 with 99.4% support and 58% participation, exceeding the 40% quorum requirement. The vote authorizes the complete discontinuation of ZetaChain’s Cosmos-based Layer 1 and a one-for-one conversion of native ZETA into a Solana SPL token. Total supply, including the stated 2.1 billion ZETA supply, would remain unchanged, with no new tokens created and existing vesting schedules preserved. A second governance vote, expected after exchanges confirm support for the swap, must set the migration mechanism, snapshot block height, final shutdown block, exchange coordination and other execution details. Until then, validators will continue operating and users can keep staking. ZETA on Ethereum and BNB Chain remains outside the proposal’s scope. The move also covers Anuma, ZetaChain’s private AI application, and its Private Memory Layer.

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