ZetaChain plans to shut down its blockchain and move to Solna.
The ZetaChain team put to a vote a proposal to permanently stop block production on its L1 network on December 9th.
They plan to transfer the original ZETA token to Solna in SPL format with a 1:1 exchange.
At the same time, the project is going to launch ZetaLabs. An AI application for financial markets with a focus on privacy. ZETA will be used to pay for AI services, feature access and product management.
It is also proposed to burn about 55 million ZETA, which were previously intended to reward validators. The burning is planned to be carried out in parts during the year 2027.
Consolidation of liquidity, although it is unlikely that it was there. The market has decided that it does not need such a number of networks.