Migrate ZETA to Solana

Original Proposal Text

Vote to approve migrating ZETA to Solana as a native SPL token, 1:1 under the same ticker, and winding down the ZetaChain L1 once holders and connected-chain assets have migrated. This vote approves the direction and the proposed approach. If this proposal passes, the ZetaChain Core Contributor team will submit a second proposal outlining the proposed mechanism and dates behind the migration of ZETA token and shutdown of ZetaChain. ## Summary ZetaChain proposes to make Solana the home of ZETA and of Anuma, the application layer for AI on Solana. Anuma is a private AI app with one memory across every model, built on the Private Memory Layer that any app or agent on Solana can plug into. ZETA would become a native SPL token on Solana, 1:1 and under the same ticker, with the same total supply and no new tokens. Once holders and connected-chain assets have migrated, the ZetaChain L1 would wind down. Solana would be the canonical home of ZETA. This proposal covers the ZetaChain L1 and the ZETA native to it. This vote approves the direction and the approach below. A second proposal will set the height of the shutdown, and nothing moves before it passes. ## Why ZETA powers Anuma, the private AI app that more than 300,000 people have joined since February, and the Private Memory Layer behind it that carries each user's encrypted memory across every model, app, and agent. Any AI app or agent on Solana can plug into it. Anuma is private by default today: a model gets only the context a request needs, private mode routes requests to open models on zero-retention infrastructure, and a closed provider never receives a user's memory or history. This migration would bring more than 300,000 Anuma users onto Solana on day one. ZETA is the token behind Anuma and, on Solana, the token behind the whole application layer. In Anuma this already works through credits: lock ZETA, receive credits, and spend them on AI usage, and locked ZETA comes out of circulating supply. Solana is assembling the stack private AI needs, open models and compute, agent identity, and agent payments through x402, and it is built for agent scale, with sub-second, sub-cent settlement and the wallets people already hold. What its AI stack still lacks is the application layer, and Anuma brings it. Running our own L1 no longer helps us build private AI. As a Cosmos SDK chain, ZetaChain inherits every upstream advisory and patch, and each one has to be coordinated across dozens of independent validators. AI tooling is making such vulnerabilities easier to find, as the August 25 patch showed, so there will be more. The full case is in the announcement post: https://www.zetachain.com/blog/bringing-zeta-and-private-ai-to-solana. ## What a Yes vote approves - ZETA becomes an SPL token on Solana, 1:1, same ticker, same total supply. Balances convert from 18 to 9 decimals, rounded down. The Solana token becomes the canonical ZETA once migration completes. - Core contributors prepare the migration: the Solana token, the mechanism by which existing holders receive it, exchange coordination, and the wind-down plan for the L1. Core contributors may use established third-party infrastructure for any part of this where that is safer or faster than building our own. Proposal 2 names whatever is chosen and what it means for holders. - A second governance proposal, submitted before anything moves, that sets the snapshot height, the halt, the claim process, and holder protections in full. - Execution is contingent on exchange support. Proposal 2 will be submitted only after the exchanges that list ZETA have confirmed the swap process. Major exchanges require substantial advance notice of a token swap before they will commit to one, so the timing of Proposal 2 follows from those confirmations rather than from a target date. ## What it does not do It does not halt the chain, take a snapshot, or change any balance. Validators keep validating and staking keeps working unless this proposal and Proposal 2 both pass. ## Holder protections - Vesting. Vesting schedules are unchanged and continue through their original dates. - Supply and distribution. Migration does not change the total number of ZETA, the vesting schedule, or the distribution of the token across holders. No new tokens are created. Every address receives on Solana the equivalent of the tokens it held on ZetaChain. - The snapshot export and its checksum will be published, with an archive node and explorer kept online, so anyone can reproduce the numbers. - Whatever contracts or programs the migration relies on will be audited before they hold anyone's ZETA. The supply is fixed: no part of the mechanism will be able to create ZETA beyond the total that existed at the snapshot, and Proposal 2 will show on-chain how that is enforced. - No action is required now. We will never ask for your seed phrase. Trust only links from zetachain.com and the official X and Discord accounts. ## Validators Nothing changes for validators under this proposal. Validating, delegation, and staking rewards all continue as they do today. Staking rewards continue until the chain shutdown time, which Proposal 2 sets. Proposal 2 covers the wind-down itself and what is asked of validators through the halt. ## Timeline Voting runs the standard 72-hour period from the moment this proposal is submitted on-chain. Everything after this vote is gated on exchange confirmations rather than on a target date. Proposal 2 carries the full schedule: the withdrawal window for connected-chain assets, the snapshot height and halt, when claims open on Solana, and the exchange conversion window. ## Voting - Yes: approve the direction and the approach. Core contributors proceed to Proposal 2. - No: do not migrate. ZetaChain continues as an independent L1. - No with veto: the proposal is harmful or spam. If more than one third of votes, the deposit is burned. - Abstain: counts toward quorum without taking a side. This is submitted as a standard proposal: a 72-hour voting period, 40% quorum, more than 50% Yes to pass, and a 1,000 ZETA deposit. ## Links - Announcement: https://www.zetachain.com/blog/bringing-zeta-and-private-ai-to-solana - Discussion: X and Discord