ZetaChain · closure
ZetaChain Holders Approve L1 Wind-Down and ZETA Migration to Solana
ZetaChain holders approved moving native ZETA to Solana and eventually retiring the project's Layer 1, but the blockchain has not shut down and a second governance vote is still required.
Has ZetaChain shut down?
No. Proposal 68 passed on September 20 with 99.4% support and 58% participation, but the chain remains live and staking continues until a second proposal approves the migration mechanics and shutdown.
Orbitrum Investor Impact
Why does the Solana migration matter for ZETA holders?
The investment case shifts from ZETA being native to an independent Layer 1 toward its utility in Anuma and other AI applications on Solana. Anuma already lets users lock ZETA for credits used for AI services.
Will the migration dilute existing ZETA holders?
No. The approved plan converts native ZETA to Solana SPL tokens 1:1 with the same total supply and existing vesting schedules, although precision will fall from 18 to nine decimals and smaller fractions will be rounded down.
What happens to staking and ZETA on other chains?
ZetaChain staking rewards continue until the eventual L1 shutdown, while the staking model on Solana remains undecided. ZETA on Ethereum and BNB Chain is outside Proposal 68.
What happens before ZETA can move to Solana?
Exchanges must first confirm their swap arrangements, after which a second proposal will set the withdrawal window, balance snapshot, claim process, exchange conversion period and L1 shutdown block. No migration date has been set.
Sources
- ZetaChain — Bringing ZETA and Private AI to Solana
- Polkachu — Prop 68: Migrate ZETA to Solana
- The Block — ZetaChain votes to shut down Layer 1 network and move ZETA to Solana
Original signal: The Block ↗
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