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ZetaChain has overwhelmingly approved Proposal 68 to officially discontinue its native L1 network and migrate its token entirely to the Solana ecosystem, The Block reported. The plan calls for the existing ZetaChain L1 to be shut down and for ZETA to be converted one-for-one into a Solana-based SPL token.
While the vote confirmed the direction of the shutdown, the network snapshot block height and final shutdown block are expected to be decided in a second governance vote after exchanges confirm support for the token swap.