More Than 99.99% Support Approves ZETA Migration to Solana at a 1:1 Ratio
Key Facts
ZETA holders approved Governance Proposal 2 on November 7, 2026, with more than 99.99% voting in favor, according to an announcement by ZetaChain. The vote sets the course for moving the token to Solana, but does not mean the migration has already taken place. The plan calls for converting ZETA into a native SPL token on the new network at a 1:1 ratio, while keeping the same token. ZetaChain says the migration will not create additional tokens. Balances are to be recorded at a specified block before the current network shuts down, with claims to begin at a later announced date.
The plan sets block 20,755,000 as the point for the balance snapshot and the shutdown of the ZetaChain network, which is expected to be reached around December 9, 2026. ZetaChain describes the date as an estimate, while setting December 9 as the date the migration and claim portal opens. After the shutdown, the network’s layer 1 will not restart. The snapshot includes liquid and staked balances, balances still in the unstaking period, and unclaimed rewards. Stakers therefore do not need to unstake before the snapshot for their balances to be included in the conversion. The company said the security audit report will be published before the portal opens, once the review is complete.
The proposed burn concerns about 55 million ZETA in validator emissions allocated to validators but not distributed, according to the plan’s description, rather than unallocated tokens. The burn is tied to the layer 1 shutdown, as emissions allocated to validators will not continue after the network stops. The final amount will be determined at the snapshot block, so the burn figure remains approximate until balances are recorded and the network is shut down. ZetaChain says about 148.3 million ZETA had been emitted as of October 26, 2026. Its data put the emission rate at about 152,000 ZETA a day through that date. These figures provide background on emissions but do not change when the final burn amount will be set.
ZetaChain says purchases by advisers and core contributors will be fully vested on January 1, 2027, with no further unlocks after that. For the token’s use after the transition, the company plans to offer discounted payments in ZETA and voting on product development at ZetaLabs. It also plans to allow users to lock the token to access premium service during the first quarter of 2027. These uses remain part of the company’s plans announced after the migration. ZetaScan is expected to remain available, with an archive node offering a read-only RPC interface through October 31, 2027. These arrangements set out a timeline for archive services and announced uses after the layer 1 shutdown.
In trading, EL7 data showed ZETA/USD closing at $0.03268 on November 12, 2026, compared with a close of $0.03578 on November 6. The figures cover two closes six days apart and provide price context for the period around the vote approved on November 7. ZetaChain’s announcement did not link the vote result to the price movement. Coinbase said it will convert users’ ZETACHAIN balances to ZETA on the Ethereum network from December 7 to 10, 2026, at an approximately 1:1 ratio and with no transaction fees. The platform said users do not need to take action for this conversion. The claim portal for ZetaChain’s migration to Solana is scheduled to open on December 9, 2026.