ZetaChain votes on proposal to burn an estimated 55 million ZETA in 2027

ZetaChain has put a governance proposal to a vote that would burn roughly 55 million ZETA tokens during 2027 and bar the foundation from selling that year's newly unlocked ZETA from its own allocation. The plan also calls for shutting down ZetaChain's own layer-1 network and migrating ZETA 1:1 to a Solana-based SPL token, snapshotting per-address balances at block 20,755,000—expected around December 9—and halting network transactions and validator rewards at that point, with Solana issuance letting holders claim an equal amount. Implementation hinges on the vote's outcome. The proposal matters because it would retire ZetaChain's standalone chain in favor of Solana distribution while using supply reduction and a foundation sell-off freeze to manage emissions. What to watch next is whether the proposal passes and whether the block-height snapshot and Solana claim process proceed as scheduled.