ZetaChain tokenholders approved governance proposal 68 on Sunday with 99.4% support and 58% participation to wind down their layer-1 blockchain and migrate the ZETA token to Solana via a 1:1 conversion. The project, founded in 2021 and having raised 27 million dollars in 2023 from investors including Blockchain.com, Jane Street Capital, Human Capital and Sky9 Capital, now aims to focus resources on Anuma, its privacy-focused artificial intelligence application, rather than maintaining a Cosmos SDK-based layer 1. The decision follows a 334,000 dollar exploit in April targeting the project’s cross-chain gateway contract. Other crypto projects, including BounceBit and Harmony, have also announced plans to shut down their standalone blockchains.
Source: Read the original article
