ZetaChain holders approve plan to wind down L1 and move ZETA to Solana

ZetaChain tokenholders have approved a proposal to shut down the project’s Cosmosbased layer 1 and move its native ZETA token to Solana. The governance vote passed with 99.4% support and 58% participation, above the network’s 40% quorum requirement. The plan calls for ZETA to be converted into an SPL token on Solana at a 1:1 ratio, keeping the same ticker and total supply. The approval does not begin the migration immediately. ZetaChain said a second proposal will set the withdrawal window for assets on other blockchains, the snapshot height, the shutdown timeline, the claim process, and the exchange conversion period. Validators are expected to keep operating and staking rewards will continue during the transition. The project said it is shifting resources because operating its own L1 no longer fits its focus on Anuma, a privatefocused AI application, and its Private Memory Layer. ZetaChain, launched in 2021 as an interoperability project, also noted that other crypto projects such as BounceBit and Harmony have recently moved away from standalone chains.