ZetaChain

Solana

Cosmos

<h3 id="summary">Summary</h3>
<ul>
 <li>ZetaChain holders approved the Layer 1 shutdown and Solana migration, with Proposal 68 receiving overwhelming support from participating voters overall.</li>
 <li>Anuma’s expanding AI usage drove the strategic shift, while Solana offers developers relief from maintaining an independent Cosmos blockchain network.</li>
 <li>ZETA retains its supply and vesting schedules, although another governance vote must determine the snapshot and final shutdown block height.</li>
</ul>
&nbsp; 
ZetaChain token holders have approved plans to close the project’s Layer 1 blockchain and transfer its operations to Solana. <a href="https://hub.zetachain.com/governance/proposal/68" rel="noopener noreferrer nofollow">According to Proposal 68</a>, 99.4% of voters supported the plan, while 58% participation exceeded the 40% quorum, with opposition and abstentions each representing 0.3%. 
Under the framework, ZETA will become a native Solana SPL token through a one-for-one conversion for holders. It will retain its ticker, total supply, and vesting schedules, although Ethereum and BNB Chain tokens remain excluded. 
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<h2 id="anuma-strategy-drives-solana-migration">Anuma Strategy Drives Solana Migration</h2>
Developers linked the decision to Anuma, <a href="https://36crypto.com/zetachain-hack-forces-shutdown-of-cross-chain-transfers-token-slides/" rel="noopener noreferrer nofollow">ZetaChain</a>’s artificial intelligence application launched in February. According to ZetaChain, Anuma has attracted over 300,000 users and processed one million requests across 35 artificial intelligence models. 
Its encrypted memory system works across models, applications, and agents while allowing users to control information. Additionally, ZETA holders can lock tokens and receive credits for artificial intelligence services in the application. 
Developers concluded that maintaining an independent Cosmos SDK blockchain created unnecessary demands. Each upstream security advisory requires coordination across validators, increasing the workload for protecting and upgrading the network. 
Moreover, the proposal warned that artificial intelligence tools could uncover more blockchain software vulnerabilities. Cosmos Labs disclosed attacks affecting six Cosmos EVM chains, although ZetaChain was not among the compromised networks. 
<h2 id="shutdown-details-require-another-vote">Shutdown Details Require Another Vote</h2>
ZetaChain has not established a shutdown date because exchanges must confirm their token conversion arrangements. Another proposal will specify the balance snapshot height, shutdown block, claim process, and connected-chain asset withdrawal instructions. 
Meanwhile, ZETA staking remains active, but developers have not finalized how staking and rewards will operate on Solana. The migration represents a departure from ZetaChain’s original interoperability strategy. The project raised $27 million in August 2023 from investors such as Blockchain.com and Jane Street Capital. 
Its mainnet launched in January 2024, supporting applications using assets from networks including Bitcoin and Ethereum. However, contributors now view Solana as a better foundation for Anuma without the operational burden of another Layer 1 network. ZETA fell approximately 2.5% over 24 hours as holders assessed the migration and unresolved staking arrangements. 
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The post <a rel="noopener noreferrer nofollow" href="https://36crypto.com/zetachain-holders-approve-solana-migration-and-layer-1-shutdown/">ZetaChain Holders Approve Solana Migration and Layer 1 Shutdown</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://36crypto.com">36Crypto</a>.

ZetaChain Holders Approve Solana Migration and Layer 1 Shutdown

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