ZetaChain tokenholders have officially approved a transition plan to wind down the project's Cosmos-based layer-1 blockchain. The governance proposal 68 passed with 99.4% support and 58% participation, surpassing the required 40% quorum threshold.
The native ZETA token will migrate to the Solana network as an SPL token. The conversion will occur at a 1:1 ratio, maintaining the original ticker and total supply. Core contributors are expected to release a secondary proposal outlining the specific shutdown timeline, asset withdrawal windows, and token claim procedures.
The project intends to shift its focus toward Anuma, an artificial intelligence application centered on privacy. By moving to Solana, the team aims to reallocate resources previously dedicated to maintaining their own layer-1 infrastructure toward the development of the Private Memory Layer.
Founded in 2021, ZetaChain previously secured $27 million in funding from investors such as Blockchain.com, Jane Street Capital, Human Capital, and Sky9 Capital. The project also experienced a security incident in April, involving a $334 000 exploit of its cross-chain gateway contract.
The decision follows a broader industry trend where projects like BounceBit and Harmony have opted to retire their standalone blockchains. BounceBit migrated to BNB Smart Chain following a $3 million exploit, while Harmony proposed a shift to Ethereum to support an AI video initiative.
