ZetaChain votes to shut down Layer 1 network and move ZETA to Solana
ZetaChain holders approve shutdown of its own blockchain
ZetaChain token holders voted on Sunday to shut down the project's Layer 1 blockchain and move the ZETA token to Solana. The proposal passed with 99.4% support, ending at 10:58 a.m. ET, according to the project's governance portal.
Vote results and key numbers
- Proposal 68 passed with 99.4% in favor
- Participation reached 58%, exceeding the 40% quorum requirement
- Opposition and abstentions each accounted for 0.3%
Why the team is pivoting to Solana
ZetaChain's developers say they no longer need their own blockchain because they are focusing on Anuma, a private AI app launched in February. The project claims more than 300,000 Anuma users and a million requests across 35 AI models. ZETA holders can lock up tokens to receive credits for spending on AI.
The team also pointed to the difficulty of maintaining a Cosmos SDK chain, noting that every upstream advisory and patch must be coordinated across dozens of independent validators. They referenced a recent Cosmos Labs disclosure about attacks on six Cosmos EVM chains, though ZetaChain was not among them.
What is confirmed about the migration
- ZETA will become a native Solana SPL token at a one-for-one rate
- The token will retain its ticker and total supply
- Vesting schedules remain unchanged
- The plan excludes ZETA on Ethereum and BNB Chain
What is still unclear
No shutdown date has been set. A second, forthcoming proposal will specify the block height for a balance snapshot and determine when the network shuts down, along with instructions for claiming tokens. ZetaChain says it will not put that proposal to a vote until exchanges have confirmed their swap arrangements.
The team also said on Sept. 17 that it was still exploring how to handle staking and rewards on Solana. ZETA staking continues on the existing network in the meantime.
Background
ZetaChain raised $27 million in August 2023 from investors including Blockchain.com and Jane Street Capital. The project launched its mainnet in January 2024, aiming to let developers use assets from chains like Bitcoin and Ethereum in the same application. The price of ZETA has fallen about 2.5% in the past 24 hours.
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.