ZetaChain announced a governance proposal that would shut down its native Layer 1 blockchain on Dec. 9, 2026, and migrate the ZETA token to Solana’s SPL standard. The vote, opened on Nov. 4, runs for 72 hours and closes at 16:12 UTC on Nov. 7, according to crypto.news. Holders must approve the plan for it to proceed; the team reiterated that “nothing moves until it passes.”

SOL / USD
Source: CoinGecko. Prices are indicative.

Migration mechanics and token conversion

The proposal outlines a snapshot at block 20,755,000, expected around Dec. 9, that will record all liquid, staked, unbonding and unclaimed rewards. After the snapshot, the ZetaChain L1 will cease block production and a matching supply of ZETA will be minted on Solana using the SPL token standard, preserving the ticker and a 1:1 conversion ratio. The new token will have nine decimal places and no freeze authority, with minting rights revoked after issuance. Existing ERC‑20 ZETA on Ethereum will remain unchanged.

Holder eligibility and claim process

Eligible holders can claim their Solana‑based ZETA via the ZetaHub portal starting Dec. 9, provided they hold at least 10 ZETA at the snapshot. The portal, reviewed by security firm Hacken, will require users to connect their wallet, sign a message and designate a Solana receiving address, with no transaction fee. Balances held on exchanges will be converted according to each platform’s schedule, while tokens in liquidity pools or wrapped contracts must be withdrawn before the snapshot, as they cannot be recovered through the portal.

Supply reduction and ZetaLabs launch

Alongside the migration, ZetaChain plans to burn roughly 55 million ZETA allocated to undistributed validator rewards over twelve monthly transactions in 2027, reducing the maximum token supply. Vesting for core contributors ends on Jan. 1, 2027, and the foundation has pledged not to sell its allocated tokens during that year. On the same day as the migration, ZetaChain will debut ZetaLabs, a private AI platform that integrates market data, encrypted user memory and multiple AI models. The service will accept ZETA, USDC or payment cards, with premium features unlocked by locking ZETA.

What to watch next

The outcome of the governance vote on Nov. 7 will determine whether the L1 shutdown and Solana migration occur as scheduled. Subsequent steps include the release of the ZetaHub claim portal, exchange conversion timelines, and the first batch of ZETA burns in early 2027. Observers will also monitor the performance and adoption of ZetaLabs, which aims to leverage Solana’s infrastructure for private AI applications.