- ZetaChain governance participants have voted in favor of shutting down the Layer-1 network and migrating the native ZETA token to Solana.
- Proposal 68 secured an overwhelming 99.4% approval rate among participating voters.
- While ZETA holders on the main network will migrate at a 1:1 rate, versions on BNB Chain and Ethereum will be excluded, and existing vesting schedules remain unaffected.
ZetaChain is preparing for a major structural overhaul after its community overwhelmingly approved a proposal to shut down the Layer-1 blockchain and migrate its native ecosystem to Solana. According to the official governance portal, Proposal 68 passed with a resounding 99.4% approval rate from token holders.
The drastic strategic pivot marks a complete departure from ZetaChain’s original multi-chain interoperability thesis. Under the terms of the approved governance vote, the native ZETA token will be migrated to the Solana network at a 1:1 conversion rate, allowing existing holders to transition their assets onto the high-speed blockchain.
Despite the comprehensive nature of the migration, certain segments of the token supply will face restrictions. According to the details outlined in the governance proposal, versions of ZETA currently circulating on BNB Chain and Ethereum will be excluded from the migration path. Meanwhile, project stakeholders and investors subject to existing vesting schedules will see their terms remain unchanged post-migration.
The decision underscores a broader industry trend of liquidity consolidation around high-throughput Layer-1 ecosystems like Solana. Further details regarding the exact timeline for the network shutdown and the mechanics of the Solana token bridge are expected to be released by core contributors in the coming days.
