WuBlockchain
ZetaChain has opened an onchain governance vote on a proposal to permanently halt block production on its Layer 1 network on December 9. Native ZETA would migrate 1:1 to Solana as an SPL token.
The proposal also calls for the launch of ZetaLabs, a privacy-focused AI application for financial markets. ZETA would be used for AI service payments, feature unlocking and product governance.
The project plans to burn approximately 55 million ZETA originally allocated for validator rewards in batches throughout 2027. Voting is scheduled to conclude on November 7.
Frequently asked questions
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How would ZETA move to Solana?
The proposal calls for native ZETA to migrate to Solana as an SPL token at a 1:1 ratio.
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When is the ZetaChain governance vote scheduled to end?
Voting is scheduled to conclude on November 7.
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What would ZETA be used for in ZetaLabs?
ZETA would be used for AI service payments, feature unlocking and product governance in the proposed privacy-focused financial markets application.
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How much ZETA is planned for burning?
The project plans to burn approximately 55 million ZETA in batches throughout 2027. The tokens were originally allocated for validator rewards.
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What would happen to ZetaChain block production under the proposal?
The proposal calls for block production on ZetaChain's Layer 1 network to be permanently halted on December 9.
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