ZetaChain Holders Approve ZETA Solana Migration with 99.99% of the Vote

Proposal 70 Passes Ahead of a December 9 Shutdown

ZetaChain (ZETA) holders have voted to wind down the project's own layer-1 blockchain and move the native token to Solana (SOL), with Governance Proposal 2 clearing at more than 99.99% support. The result is recorded on ZetaHub, the project's governance portal, where voting closed at 01:12 Japan time on November 8, and the development team confirmed the outcome the same day in a post on its official X account. Turnout reached 83% of eligible voting power, according to the portal's vote record. The approved text is Proposal 70, the migration plan published on the official blog on November 4 as Governance Proposal 2; it schedules the shutdown of the native L1 for around December 9 and a 1:1 exchange of ZETA held on that chain for a Solana-based token. It follows Proposal 68, passed on September 20 with 99.44% approval, which had already set the basic policy of ending the L1 and migrating the token. The team's stated reason is that running an independent blockchain no longer helps its AI-service development. Solana was chosen, the team explained, because the user base, the PayFi rails and the AI-agent infrastructure the services need are already in place there. Before the vote, the team framed what was at stake: the proposal sets the mechanism, the dates and the holder protections, and nothing moves unless it passes. ZetaChain launched its L1 mainnet in February 2024 and built its name on interoperability, connecting Ethereum, Bitcoin and Solana (SOL) through cross-chain bridges so assets could move and be managed across chains. In the market, the ZETA price slipped about 5.6% over the past 24 hours, a move that landed within a day of the vote closing.

@ZetaChain · X post

A post on its official X account.

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Snapshot at Block 20,755,000 and Monthly Burns

Under the approved plan, the network records a snapshot of all ZETA balances at block height 20,755,000 and halts the L1 at that same height. The record includes ZETA delegated to validators, tokens still in the unbonding queue and staking rewards that have accrued but not yet been claimed, and there is no plan to restart the network afterward. The protocol allocates ZETA on the destination chain based on those recorded balances. The ZetaChain Foundation issues the replacement token under Solana's SPL standard, mints the full required quantity before the claim portal opens, reconciles it against the snapshot and then revokes its authority to mint additional supply on Solana. ZETA in ERC-20 form on Ethereum stays valid throughout. Holders in self-custody claim through the migration portal on ZetaHub by connecting their existing wallet, designating a Solana receiving wallet and signing a message. The claim is not a trustless atomic swap, but it carries no fee, needs no SOL and requires a balance of at least 10 ZETA per address at the snapshot. Wrapped ZETA must be unwrapped, and positions in liquid-staking and liquidity pools withdrawn, before the snapshot is taken. Hacken, the firm handling the security review, has published its audit of the Solana distribution program, and the portal opens only after that review is complete. Exchange customers avoid manual steps: Coinbase says it will automatically convert L1-native ZETACHAIN into Ethereum-based ZETA at roughly 1:1 between December 7 and 10, with each venue announcing its own schedule. The supply side changes too. About 210 million ZETA had been reserved for validator rewards on the L1; of that, roughly 55 million will never be issued and will instead be burned at about 4.6 million ZETA per month from January through December 2027. The original cap of 2.1 billion ZETA stands, and the previously planned annual issuance of about 2.5% is dropped, while existing allocations and vesting keep their original schedule. The destination for the token's utility is ZetaLabs, a privacy-preserving AI service opening on December 9, built on Anuma Chat, an AI chat service that has run since February 2026. Chat, research and memory are encrypted with keys users hold themselves, and launch modules include Chat, Radar, Bloom and a ZETA Dashboard tracking supply and burns. A free daily allowance applies; beyond it, usage is paid in ZETA, USDC or card, with ZETA receiving a discount, and holders also vote on supported models and data sources.

The Debate Shifts to Execution

The vote record settles one argument on its own: with 83% turnout and better than 99.99% in favor, no organized opposition to the migration exists on the recorded outcome, so the remaining question is execution, not direction. Three dates have to line up: the December 7 to 10 exchange conversion window, the snapshot at block height 20,755,000 and the December 9 portal opening. The token's economics shift more quietly. With the 2.5% issuance canceled and roughly 4.6 million ZETA burned each month through 2027, supply contracts instead of growing, and ZETA's role moves from securing a validator set to paying for AI usage inside ZetaLabs. Whether service demand can replace staking yield is the open question the vote record does not touch.