ZetaChain plans migration of ZETA token to Solana network

ZetaChain is preparing to shut down its Layer 1 blockchain and migrate its native ZETA token to the Solana network. According to Governance Proposal 2, the migration is tentatively scheduled for December 9, coinciding with the network reaching block height 20,755,000, at which point transaction processing will permanently stop.

The proposal has already met the required voting quorum, with significant support from tokenholders. If passed, ZETA will convert into a native Solana-based SPL token at a one-to-one ratio. The migration process will be facilitated through a claim portal on ZetaHub, which is expected to open on the migration date.

To claim tokens, eligible holders must have held at least 10 ZETA at the time of the snapshot. The process involves signing a message with a Solana wallet address to identify the destination for the replacement tokens. The claim process is expected to be free and will not require users to hold SOL. Claims will commence once the cybersecurity firm Hacken completes its assessment of the distribution program and claim infrastructure.