<h2 id="header-0">Key Facts</h2>
<ul>
 <li>ZetaChain Proposal 70 would take a snapshot of all ZETA balances and halt the ZetaChain L1 at block 20,755,000, expected around Dec. 9.</li>
 <li>Holders would claim ZETA on Solana through the ZetaHub migration portal from Dec. 9, and about 55 million ZETA of undistributed validator emissions would be burned monthly through 2027.</li>
 <li>Voting closes Nov. 7, with Yes votes at 100% and 67% participation as of Thursday.</li>
</ul>
ZetaChain (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/zetachain/">ZETA</a>) stakers are voting on a proposal that would halt the project's layer-1 network around Dec. 9, open claims for ZETA on Solana (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/solana/">SOL</a>) the same day and burn about 55 million ZETA.
Proposal 70, submitted on-chain Nov. 4, sets the dates and mechanics for a move that holders <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/zetachain-holders-vote-994percent-to-wind-down-l1-migrate-zeta-to-solana">approved in principle in September</a>.
Voting closes Nov. 7, and the proposal showed 100% Yes with 67% participation as of Thursday, against a 40% quorum.
"Proposal 68 approved the direction. This proposal sets every date and mechanism behind it. Nothing moves until it passes," the <a target="_blank" rel="noopener noreferrer nofollow" href="https://hub.zetachain.com/governance/proposal/70">proposal</a> says.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/4cfcf8574b774f0081a5de8d6083b498.png">
ZetaChain's Proposal 70 would halt the L1 around Dec. 9 and move ZETA to Solana. Source: <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/zetachain/">CoinMarketCap</a>
<h2 id="header-1">How the Migration Would Work</h2>
At block 20,755,000, native ZETA transfers would be frozen and every balance recorded, including delegated and unbonding tokens and unclaimed staking rewards, the proposal says. The ZetaChain <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/layer-1-blockchain">layer-1 blockchain</a> would stop at the same height, though ZetaScan and a read-only archive node would stay online.
Holders would then claim ZETA on Solana by connecting their old wallet to the ZetaHub portal and naming a Solana address. Claims require at least 10 ZETA at the <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/snapshot">snapshot</a>, carry no fee and need no SOL. No third-party bridge is involved, and ZETA on Ethereum is unaffected.
"This path is one-way. ZETA migrated from ZetaChain cannot go back, because the ZetaChain L1 stops," the proposal says. Hacken is reviewing the Solana distribution program and the snapshot-loading and claim service behind the portal, which opens only after the review is complete.
<h2 id="header-2">Supply Falls as Emissions Are Burned</h2>
The roughly 55 million ZETA left in the validator incentives allocation would be <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/burned">burned</a> in monthly tranches through 2027 instead of distributed, worth about $1.9 million at current prices. A 2.5% yearly emission planned from the L1's fourth year would never start, and ZETA on Solana would have no inflation.
The ZetaChain Foundation would mint the snapshot total on Solana and then revoke the mint authority, so no further ZETA could be minted on Solana.
Exchanges have been briefed on the <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/token-migration">token migration</a> and will announce their own support. Horizen is also winding down a network, <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/base-denim-200ms-blocks-horizen-l3-shutdown">shutting its L3</a> as Base's Denim upgrade arrives Nov. 5.
ZETA was down 3.3% over 24 hours at $0.0352, according to CoinMarketCap data.
Read More:&nbsp;<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/polygon-open-money-stack-solana-stablecoin-payments">Polygon Brings Its Bank-to-Stablecoin Payments Stack to Solana</a>

ZetaChain Proposal Would Halt L1 Dec. 9, Burn 55M ZETA in Solana Move

Table of Contents

Other articles published on Nov 5, 2026

Join our free newsletter for daily crypto updates!