ZetaChain Proposal Would Convert ZETA 1:1 on Solana After December 9 Halt
Key Takeaways
- •ZetaChain published Governance Proposal 2 on November 5, seeking holder approval to wind down its layer-1 network and migrate ZETA to Solana.
- •The existing network would halt on December 9, after which each ZETA token would convert at a fixed 1:1 ratio into a native Solana asset.
- •The plan remained pending ZETA holder approval as of publication, with the vote deciding whether the halt and conversion move forward.
- •Complete shutdowns of active layer-1 networks are rare in the industry, as most token migrations keep the source chain operational.
- •ZETA currently pays fees, helps secure ZetaChain, and enables governance — functions that would cease once the network halts.
ZetaChain Proposal Would Convert ZETA 1:1 on Solana After December 9 Halt
ZetaChain has put the future of its own layer-1 network up for elimination. Governance Proposal 2, published on the project's official blog on Thursday, November 5, asks ZETA holders to approve a full wind-down of the current chain and a one-to-one conversion of ZETA into a native token on Solana. Under the plan, the existing network would halt on December 9.
If approved, operations on the current ZetaChain network would end following the December 9 halt, and each ZETA token would convert at a fixed 1:1 ratio into the new native Solana-based asset, according to the proposal. As of publication, the plan was awaiting approval from ZETA holders, and the outcome of that vote will determine whether the halt and conversion proceed as described. Full wind-downs of operating layer-1 networks are an uncommon step in the industry: token migrations more often involve bridging or reissuing an asset while the original chain keeps running, whereas this plan ties the new Solana-native ZETA directly to the end of the source network. For holders, the fixed 1:1 ratio means the number of tokens they hold would stay the same — what changes is the network on which the asset is issued.
ZetaChain is an interoperability-focused layer-1 blockchain designed to provide native connectivity across major networks, including Bitcoin, Ethereum and other EVM-compatible chains, and Solana. Its native asset, ZETA, is used to pay network fees, help secure the network, and participate in on-chain governance — functions of the network that, under the proposal, would cease operating after the halt. Governance proposals of this kind are a standard mechanism through which decentralized networks place major protocol decisions — such as migrations, upgrades, or shutdowns — in the hands of their token holders.
Solana, the destination chain named in the proposal, is a high-performance layer-1 blockchain known for high transaction throughput and low fees. Under the proposed conversion, ZETA would become a native asset of Solana rather than of the ZetaChain network itself.
This content was first published on COINOTAG.
