ZetaChain plans to wind down its Cosmos-based layer 1 and migrate ZETA to Solana, joining other crypto projects moving away from standalone chains. ZetaChain tokenholders have approved a plan to wind down the project’s layer-1 blockchain and migrate its native ZETA token to Solana. Governance proposal 68 passed Sunday with 99.4% support and 58% participation, exceeding the network’s 40% quorum requirement. Under the proposal, ZETA will become an SPL token on Solana through a 1:1 conversion, with the same ticker and total supply. According to the proposal, the vote does not immediately trigger ZetaChain’s shutdown or migration. Core contributors will submit a second proposal detailing the withdrawal window for assets linked to other blockchains, snapshot block height, shutdown timetable, token claim process and exchange conversion period. Validators will continue operating and staking rewards will continue during the transition. Read more
Solana raised its transaction size limit to 4,096 bytes, giving developers more room for zero-knowledge proofs and transactions with multiple signatures. Solana raised its maximum transaction size from 1,232 bytes to 4,096 bytes to allow developers to fit more complex operations into a single transaction, including zero-knowledge proofs and new onchain signature schemes. The upgrade was activated on mainnet on Tuesday at the start of epoch 1,035 around 1:00 am UTC, according to blockchain data shared by the Solana Foundation. The upgrade also introduced the v1 transaction format, which maintains full backward compatibility with legacy transactions. Existing transaction formats continue working for applications and wallet providers, but protocols that want to benefit from the size increase need to update to v1 transactions. Read more
Memecoin platform Pump.fun accounted for most of the new tokens among launchpads, as the Solana network notched a new all-time daily issuance high. The Solana network reached an all-time high in daily token issuance, surpassing the number of new coins issued during the peak of the memecoin cycle in late 2024. More than 263,000 new Solana Program Library (SPL) tokens were minted on the Solana blockchain on Wednesday, marking a new record high, according to Solscan. Some 40,000 to 50,000 daily tokens were issued on Solana at the peak of the memecoin cycle in December 2024. Of the total 40,360 tokens issued through launchpads, memecoin platform Pump.fun accounted for the majority, or 34,184 coins, according to Blockworks’ dashboard. Read more