ZetaChain holders approve ZETA migration to Solana
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Written by
Simonas Brazionis - Updated 2026-09-22 06:56:05
ZetaChain holders have approved a proposal to decommission the project's layer-1 blockchain and transition its native ZETA token to the Solana network. The governance proposal, identified as Proposal 68, passed with an overwhelming 99.4% approval and 58% participation, easily surpassing the required 40% quorum for such a significant change.
Under the newly approved plan, ZETA will be converted to an SPL token on Solana at a 1:1 ratio. This migration will maintain the token's current ticker and total supply, ensuring continuity for holders. However, this vote does not trigger an immediate shutdown or migration of the existing infrastructure.
Strategic Rationale for Solana Migration
ZetaChain indicated that operating its Cosmos SDK-based layer-1 no longer aligns with its evolving strategic focus. The project is now prioritizing Anuma, an AI application designed for enhanced privacy. This shift in direction is a key driver for the move to Solana.
Migrating to Solana is expected to enable ZetaChain to reallocate vital resources. Instead of maintaining its blockchain infrastructure, the project can now dedicate these resources to the development of Anuma and its Private Memory Layer. This layer is crucial for facilitating encrypted context transfer across various AI models, enhancing the application's core functionality.
Precedents and Past Incidents
This move by ZetaChain is part of a broader trend within the crypto space, as other projects have also announced plans to discontinue their standalone blockchains. For example, BounceBit retired its blockchain in August after an exploit led to the theft of approximately $3 million in BB tokens, subsequently migrating its token to the BNB Smart Chain.
Harmony also proposed shutting down its layer-1 and migrating its ONE token to Ethereum in September, following an exploit that created unauthorized ONE tokens. ZetaChain itself experienced a $334,000 exploit in April, targeting its cross-chain gateway contract, which resulted in funds being drained from ZetaChain-controlled wallets across multiple blockchains.
