ZetaChain Receives Overwhelming Support for L1 Shutdown and ZETA Migration
- Proposal 68 was approved with a vote of 99.4%, surpassing the required quorum of 40% with a turnout of 58%.
- ZETA will transition to a native SPL token on Solana via a planned 1:1 conversion.
- A second proposal is needed to finalize the migration process and determine the timing for shutting down ZetaChain’s L1 network.
- The ZetaChain team plans to focus on Anuma, an AI application that has gained over 300,000 users since its launch in February.
- ZetaChain previously raised $27 million in funding and launched its mainnet in early 2024.
The approval of Proposal 68 marks a significant shift for ZetaChain as it transitions from its original blockchain model to focus on developing Anuma, which has already processed over one million requests across various models.
With the overwhelming support seen in the recent vote, ZETA will soon become a native SPL token on Solana, maintaining its existing ticker and supply structure while awaiting further proposals for implementation details. (Source)
