ZetaChain Approves Transition to Solana Blockchain

ZetaChain has received overwhelming support for a proposal to wind down its Layer 1 blockchain and transition its ZETA token to the Solana blockchain. Proposal 68 was approved with 99.4% of votes in favor, with a participation rate of 58%.

Before the transition can be finalized, cryptocurrency exchanges must confirm the token swap. Following this confirmation, a second vote will be held to establish the snapshot date, claims process, and shutdown schedule for the existing Layer 1 blockchain.

This decision marks a significant shift for ZetaChain as it seeks to leverage the capabilities of Solana, known for its high throughput and low transaction costs, to enhance its ecosystem and user experience.

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Source: KLEA News