The ZetaChain L1 shutdown has not been finalized: voting on ZetaHub Proposal 70 ends November 7, and the plan will only be implemented if it passes. If approved, a snapshot is expected around December 9 at block 20,755,000, after which the L1 will be halted. Native ZETA will be minted as Solana SPL tokens at a 1:1 ratio based on the snapshot; the original chain will not restart.
The snapshot includes staked balances, balances undergoing unstaking, and unclaimed rewards. Ethereum ERC-20 ZETA is unaffected by this proposal. The migration portal and distribution process are still undergoing an independent security review by Hacken; the official team says they will open only after the report is published. Next up: the vote results and the review report. Which aspect matters most to you?
Sources: ZetaHub proposal https://hub.zetachain.com/governance/proposal/70 ｜Official announcement https://www.zetachain.com/blog/zeta-moves-to-solana-dec-9
Disclosure: Participating in Binance Square Write to Earn content rewards; eligibility and rewards are subject to the platform's rules and are not guaranteed. Not investment advice.
$ZETA #ZetaChain
The snapshot includes staked balances, balances undergoing unstaking, and unclaimed rewards. Ethereum ERC-20 ZETA is unaffected by this proposal. The migration portal and distribution process are still undergoing an independent security review by Hacken; the official team says they will open only after the report is published. Next up: the vote results and the review report. Which aspect matters most to you?
Sources: ZetaHub proposal https://hub.zetachain.com/governance/proposal/70 ｜Official announcement https://www.zetachain.com/blog/zeta-moves-to-solana-dec-9
Disclosure: Participating in Binance Square Write to Earn content rewards; eligibility and rewards are subject to the platform's rules and are not guaranteed. Not investment advice.
$ZETA #ZetaChain
