TREE NEWS update: ZetaChain’s community passed Proposal 68 on September 20 with 99.4% approval to shut down its L1 and migrate the ZETA token to Solana as a native SPL token at a 1:1 ratio, preserving the ZETA ticker and the 21 billion total supply with existing unlock schedules unchanged. ZETA migrated to Solana will back the privacy-focused multi-model AI app Anuma, which has 305,881 registered users and has processed over 1.2 million requests across 35 AI models. ZETA rose more than 40% on September 21 and traded near $0.05.
ZetaChain Community Votes to Shut Down L1, Migrate ZETA to Solana
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AI take
A near-unanimous community vote to abandon a Layer 1 is unusual; the striking part is that the token's rationale now rests on an application, not the chain. Preserving supply and unlock schedules removes the usual dilution overhang from a migration, which may explain the market's reaction. The open question is whether Anuma's registered-user base and request volume translate into demand for ZETA on Solana, where the token competes for liquidity and attention rather than anchoring its own network.
Generated by AI for reference only.
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