ZetaChain holders approve plan to wind down L1 and move ZETA to Solana
ZetaChain tokenholders approve shutdown and Solana migration
ZetaChain tokenholders have approved a proposal to wind down the project's Cosmos-based layer-1 blockchain and migrate its native ZETA token to Solana. The project plans to redirect its resources toward Anuma, a private-focused artificial intelligence application.
Key numbers and vote details
- Governance proposal 68 passed with 99.4% support and 58% participation, exceeding the network's 40% quorum requirement.
- ZETA will become an SPL token on Solana through a 1:1 conversion, keeping the same ticker and total supply.
- ZetaChain was founded in 2021 and raised $27 million in 2023 from investors including Blockchain.com, Jane Street Capital, Human Capital, and Sky9 Capital.
What the proposal does and does not do
The vote does not immediately trigger ZetaChain's shutdown or migration. Core contributors will submit a second proposal with details on the withdrawal window for assets linked to other blockchains, snapshot block height, shutdown timetable, token claim process, and exchange conversion period. During the transition, validators will continue operating and staking rewards will continue.
Why ZetaChain is leaving its own blockchain
ZetaChain said running its own Cosmos SDK-based layer 1 no longer supports its focus on Anuma and its Private Memory Layer, which allows users to carry encrypted context across AI models. The project said moving to Solana would let it redirect resources from blockchain maintenance to these AI-focused products.
What is confirmed
The governance vote passed and the plan to migrate ZETA to Solana has been approved by tokenholders. ZetaChain is pivoting its focus to Anuma. Validators will continue operating during the transition period.
What is still unclear
The timeline for the shutdown and migration has not yet been finalized. A second proposal from core contributors is needed to outline the withdrawal window, snapshot block height, and claim process. The exact date of the transition has not been announced.
Why it matters
ZetaChain joins other crypto projects, including BounceBit and Harmony, that have announced plans to shut down their standalone blockchains. BounceBit retired its chain in August after a $3 million exploit, migrating to BNB Smart Chain. Harmony proposed shutting down its layer 1 on September 6, citing an exploit that created unauthorized ONE tokens. ZetaChain itself suffered a $334,000 exploit in April targeting its cross-chain gateway contract.
What happens next
Core contributors will submit a second governance proposal with the specific details of the shutdown and migration process, including withdrawal windows, snapshot details, and token claim procedures.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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