According to The Block, ZetaChain Proposal 68 passed on 20 September at 14:58 UTC with 99.4% of participating voting power backing a migration of native ZETA to Solana and the start of a wind-down of ZetaChain’s Layer 1 network. Participation reached 58%, above the proposal’s 40% quorum. The approval begins the transition but does not establish the technical migration procedure or a timetable for shutting down the chain.
Proposal 68 clears quorum for Solana migration and Layer 1 wind-down
Only 0.3% voted against the measure and another 0.3% abstained. The approved proposal authorises ZETA’s migration to Solana as a native SPL token while beginning the process of winding down ZetaChain’s Layer 1.
The result formalises a major change for the network, whose native asset has until now been associated with its own Layer 1. The vote itself authorises the direction of travel rather than completing the token migration or network closure.
A second vote will set migration mechanics and shutdown timing
Proposal 68 approves the direction of the change: native ZETA would migrate to Solana as a native SPL token, while ZetaChain’s Layer 1 would begin winding down.
The measure stops short of specifying how the migration will work or when the shutdown will occur. A second governance vote is required for both decisions, according to the Polkachu Governance Explorer.
Migration applies only to native ZetaChain ZETA
The proposal applies to native ZETA on the ZetaChain Layer 1. ZETA issued on Ethereum and BNB Chain falls outside the scope of Proposal 68, Solana Compass reported.
The distinction narrows what the vote directly changes: it concerns the Layer 1-native asset’s proposed conversion into a Solana-native SPL token, not every version of ZETA circulating on other networks.
The vote follows ZetaChain’s strategy pivot
The governance decision follows a strategy shift announced by ZetaChain in June. The project said it was sunsetting its cross-chain interoperability features and refocusing on Anuma, described as its private AI application, in an official announcement dated 1 June.
Proposal 68 now puts the chain and token component of that shift before governance, with the remaining migration and shutdown decisions still subject to another vote.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Be the first to comment