{"proposal":{"id":"70","messages":[],"status":"PROPOSAL_STATUS_PASSED","final_tally_result":{"yes_count":"313627519086047887012499507","abstain_count":"0","no_count":"420500000000000000000","no_with_veto_count":"0"},"submit_time":"2026-11-04T16:12:51.734560310Z","deposit_end_time":"2026-11-18T16:12:51.734560310Z","total_deposit":[{"denom":"azeta","amount":"1000000000000000000000"}],"voting_start_time":"2026-11-04T16:12:51.734560310Z","voting_end_time":"2026-11-07T16:12:51.734560310Z","metadata":"https://www.zetachain.com/whitepaper.pdf","title":"Migrate ZETA to Solana: Mechanism, Dates, and Holder Protections","summary":"Vote to approve the mechanism, the snapshot, the halt, the claim process, and the holder protections for migrating ZETA to Solana, as directed by Proposal 68, which passed on Sept 20, 2026 with 99.44% in favor. Proposal 68 approved the direction. This proposal sets every date and mechanism behind it. Nothing moves until it passes. Full text: https://hub.zetachain.com/governance/proposal/70\n\n## Summary\n\nZetaChain handles the whole migration of ZETA native to ZetaChain: a snapshot of every balance at block 20,755,000, a mint of that supply on Solana before the portal opens, a self-serve claim through the ZetaHub migration portal from Dec 9, 2026, and the shutdown of the ZetaChain L1 at that same height. Hacken is conducting an independent security review of the Solana distribution program and the claim service; the report is published when the review is complete, and the portal opens only after it. No third-party bridge is involved. ZETA on Ethereum (ERC-20) is not changed by this proposal.\n\n## What a Yes vote approves\n\n- The migration mechanism below: snapshot at block 20,755,000, a mint of the snapshot total on Solana before the portal opens, and claims through the ZetaHub migration portal.\n- The snapshot height, which is also the height at which the ZetaChain L1 halts.\n- The claim processes for ZETA and for connected-chain assets, both opening Dec 9, 2026.\n- The validator wind-down: staking rewards stop at the snapshot, and staked and unbonding positions are credited automatically.\n- Burning about 55 million ZETA of undistributed validator emissions in monthly burns through 2027 instead of distributing them.\n- The supply, mint authority, and reserve model for ZETA on Solana, and the timeline below, which replaces the targets in Proposal 68.\n\n## How ZETA moves to Solana\n\n1. **Snapshot.** At block 20,755,000, expected around Dec 9, 2026, every ZETA balance is recorded per address: liquid, delegated, unbonding, and unclaimed staking rewards. No one needs to unstake. The export and its sha256 checksum are published within 3 hours, with the chain id, the height, and the hashes of the tools that produced it.\n2. **Mint.** ZETA on Solana is a classic SPL token with 9 decimals and no freeze authority, created by the ZetaChain Foundation. Everything minted adds up to the snapshot total: early mints for exchanges before the snapshot, then a single mint of the rest into a vault owned by the migration program. The program's cap is the snapshot total less early mints and cannot be raised from inside the program. Once the vault is funded and checked against the snapshot, the mint authority is revoked. Balances convert from 18 decimals to 9, rounded down.\n3. **Claim.** At hub.zetachain.com/migrate the holder connects the wallet that held ZETA (EVM or Cosmos), signs a message naming a Solana wallet, and receives the full snapshot balance. Both address formats of one key (0x and zeta1) are paid, each address exactly once. No fee and no SOL needed. Minimum 10 ZETA at the snapshot. The destination must be a wallet, not a token account or contract. Claims are checked against the published snapshot, so they work after the halt.\n\nThis path is one-way. Exchanges and multisigs migrate through the same portal, or by a manual claim to a named token account where an exchange requires one. ZETA in smart contracts, module accounts, and pool contracts (for example wrapped ZETA and liquid-staking pools) cannot be claimed by a key and is minted as a single remainder into the vault: unwrap and exit pools before the snapshot. The portal publishes every accepted signature and a live reconciliation of minted, claimed, and vault balances.\n\n## Snapshot and halt\n\nZetaChain halts at block 20,755,000, expected around Dec 9, 2026 (block 19,755,706 on Oct 26, 2026, about 3.8 seconds per block). After the halt no transactions are processed and the chain is not restarted. ZetaScan stays available, and at least an archive node with read-only RPC is provided through Oct 31, 2027 for records, tax, and accounting.\n\n## Bridged assets\n\nCross-chain transfers have ended: inbound transfers were disabled in June 2026 and withdrawals closed on Jul 1, 2026. ZRC-20 balances are recorded at the same snapshot height. From Dec 9, 2026, at hub.zetachain.com/bridged-assets, holders sign with the EVM wallet that held them and name a receiving address; each asset is paid on its original chain (Ethereum, BNB Chain, Polygon, Base, Arbitrum, Avalanche, Bitcoin, Sui and Solana), in batches that can take several days. Balances worth less than $5 per token, and tokens held in pools, vaults or smart-contract wallets, cannot be claimed. Assets backing ZRC-20 tokens are held by the ZetaChain Foundation to pay claims.\n\n## Exchanges\n\nExchange balances convert without holder action. Each exchange sets and announces its own window; this proposal does not name exchanges. Self-custody holders do not depend on any exchange window.\n\n## Staking and validators\n\nStaking rewards stop at block 20,755,000, when block emissions are set to zero. Rewards accrued up to that block, delegated ZETA, and ZETA in the 21-day unbonding queue are all included in the snapshot balance. Validators receive direct instructions, including when to shut down their nodes after the halt.\n\n## Validator emissions burn\n\nThe Validator Incentives allocation (210,000,000 ZETA) is paid through block emissions on the L1. About 55 million ZETA of it will not have been emitted by the snapshot; the exact figure is fixed at the snapshot and published with the export (148.3 million had been emitted by Oct 26, 2026, at about 152,000 ZETA per day; the TSS reward pool balance divided by 0.125 shows the total on-chain). The ZetaChain Foundation sets this amount aside in a burn reserve on Solana and burns one twelfth each month, January through December 2027, on a fixed day. Every burn is published and shown in the ZETA Dashboard. The 2.5% yearly emission planned from year four never starts; ZETA on Solana has no inflation.\n\n## Supply after migration\n\n- ZETA lives as the SPL token on Solana (1.5 billion) and the ERC-20 on Ethereum (600 million). Maximum supply stays 2,100,000,000 less the burned amount. No ZETA is created.\n- Every allocation and vesting schedule is unchanged. Purchasers and Advisors (336,000,000) and Core Contributors (472,500,000) complete their final tranche on Jan 1, 2027; no further unlocks exist after that.\n- ZetaChain will not sell ZETA that releases during 2027 from the Foundation-held allocations: User Growth Pool, Ecosystem Growth Fund, Protocol Treasury, and Liquidity Incentives.\n\n## Holder protections\n\n- Same ticker, 1:1. Every address with at least 10 ZETA receives on Solana the equivalent of what it held, including staked, unbonding, and reward balances.\n- Everything minted on Solana adds up to the published snapshot total, the program enforces the cap on-chain, and the mint authority is revoked once the vault is funded. The snapshot, mint transaction, program build hash, burns, and authority state are published.\n- The program and the claim service are audited before they hold anyone's ZETA.\n- No action is required until the portal opens on Dec 9, 2026. Trust only hub.zetachain.com, zetachain.com and the official X and Discord accounts. The portal asks for a signature, never a transaction, and never a seed phrase. Check the URL before signing.\n\n## Token utility\n\nZetaLabs is a private AI app on Solana, built on the technology ZetaChain has run since February 2026 as Anuma Chat. Lock ZETA for ZetaLabs Premium, pay in ZETA for a discount, and vote in ZETA on how ZetaLabs develops. The whitepaper (v1.0.0) covers utility, supply and the roadmap: https://www.zetachain.com/whitepaper.pdf\n\n## Timeline\n\nIf a step slips, ZetaChain announces the new date on official channels before it is reached.\n\n1. This vote: submitted Nov 4, 2026; voting closes Nov 7, 2026.\n2. Security review complete before the portal opens; audit report, SPL mint address and program address published.\n3. Snapshot and halt: block 20,755,000, expected around Dec 9, 2026.\n4. Mint on Solana: after the snapshot, before the portal opens.\n5. ZETA migration portal and bridged-asset claims open: Dec 9, 2026.\n6. Exchange conversion windows: announced by each exchange.\n7. Validator emissions burn: twelve monthly burns, January through December 2027.\n8. Archive node through at least Oct 31, 2027.\n\n## Voting\n\n- Yes: approve the mechanism, dates, and protections above. ZetaChain executes the migration on this schedule.\n- No: do not proceed on these terms. Proposal 68 stands, and ZetaChain returns with a revised proposal.\n- No with veto: harmful or spam. Over one third burns the deposit.\n- Abstain: counts toward quorum without taking a side.\n\nStandard text proposal: 72-hour voting period, 40% quorum, more than 50% Yes to pass, 1,000 ZETA deposit.\n\n## Links\n\n- Proposal 68: https://hub.zetachain.com/governance/proposal/68\n- Whitepaper: https://www.zetachain.com/whitepaper.pdf\n- Migration portal: https://hub.zetachain.com/migrate\n- Bridged-asset claims: https://hub.zetachain.com/bridged-assets","proposer":"zeta14m8s4x036jkjnfnkw92004zweh5prqzq69n880","expedited":false,"failed_reason":""}}