ZetaChain Votes 99.4% to Migrate ZETA Token to Solana
ZETA has more than doubled off its 52-week low of $14.365 on light trading volume (0.2× avg).
Summary
ZetaChain tokenholders approved Proposal 68 with 99.4% support to wind down the Cosmos-based Layer 1 and migrate ZETA to Solana as an SPL token via 1:1 conversion. The vote clears the 40% quorum requirement with 58% participation. A second governance proposal will define the shutdown timetable, snapshot block height, withdrawal window, and token-claim process. The project cites shifting focus to its Anuma AI application and Private Memory Layer as the rationale. This is a major strategic pivot for the token, potentially improving liquidity and ecosystem access on Solana, but execution details remain pending.
At the time of this announcement, ZETA was trading at $30.53 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $7.7B. The 52-week trading range was $14.37 to $32.81. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: 99Bitcoins.