ZetaChain Proposes December Migration and ZETA Burns
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- ZetaChain proposed migrating its native ZETA token to Solana and retiring its blockchain.
- The plan involves burning roughly 55 million reserved tokens across twelve monthly installments.
- Executing the migration requires passing an implementation vote and completing a security review.
ZetaChain proposed on Nov. 4 to migrate native ZETA to Solana around Dec. 9 and burn approximately 55 million tokens, subject to an implementation vote. The plan would retire its standalone blockchain, changing how holders access native tokens and ending staking rewards on that network.
Voting closes Nov. 7, following September’s approval of the migration’s direction. Execution remains conditional on the implementation proposal passing and completion of the required security review.
Snapshot Would End Transfers and Staking Rewards
The proposal targets block 20,755,000, expected around Dec. 9, for recording balances and permanently halting ZetaChain’s network. Native transfers, staking rewards and emissions would stop at that height.
Liquid, staked and unbonding balances, plus unclaimed staking rewards, would count toward eligible one-for-one claims. Holders would not need to unstake first, and rewards earned before the shutdown would remain credited.
Self-custody holders would claim through ZetaHub by signing a message specifying a Solana wallet. Balances below 10 ZETA would not be claimable, while holders of wrapped or pooled ZETA are instructed to unwrap or exit pools before the snapshot. Exchange conversion windows would be announced individually. The proposal leaves Ethereum-based ERC-20 ZETA unchanged.
Burns Would Remove About 55 Million ZETA in Total
Approximately 55 million ZETA reserved for undistributed validator emissions would be burned in twelve installments from January through December 2027. Each monthly burn would remove roughly 4.6 million tokens, with the exact total determined at the snapshot.
The schedule would reduce supply gradually rather than remove the full amount on migration day. Rewards earned before the snapshot would remain credited, while future validator emissions would be burned instead of distributed. Burn transactions would be published for holders to track.
Security Review Must Precede Claims
ZetaChain stated that the Hacken was reviewing the migration portal and its underlying program. The portal would open only after the review finished, and the report was published, making security clearance a condition of the planned launch.
The project also scheduled ZetaLabs, its private AI product for market research, for Dec. 9, with ZETA supporting planned services. That launch would accompany the project’s shift toward AI applications as its standalone blockchain winds down.
