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Akash Network’s core team opened Governance Proposal #346 on October 26, 2026, on its Cosmos-based akashnet-2 chain, asking holders to abandon the project’s sovereign chain and relaunch its AKT token on Solana. Early tallies showed roughly 98% support, Ambcrypto reported. Voting closes on November 2, 2026.
The proposal does not bridge or deploy a side version of the token. It retires Akash’s own chain entirely, converting AKT to a Solana SPL token at a one-to-one ratio with the same ticker, six decimals and total supply. Ambcrypto put AKT’s market capitalization above $200 million; Blockchainreporter placed it near $203 million with about $6.7 million in 24-hour volume. Cryptobriefing and Blockchainreporter both reported that conversion happens through a one-way portal that stays open for two years.
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Key facts
- Voting on Proposal #346 opened October 26 and runs through November 2, 2026; it needs a 33.4% quorum and a simple majority, according to Blockchainreporter.
- AKT converts 1:1 to an SPL token with unchanged supply and six decimals, through a one-way portal open for two years.
- Staked AKT must be unstaked first, which carries a 21-day unbonding period, Blockchainreporter reported.
- Moving the marketplace requires a separate governance vote after additional audits and rehearsals; existing workloads run for 90 days after cutover before the old chain halts.
- Akash pegged marketplace network fees at about 0.075 SOL per day, with median Solana transactions near $0.001.
Token first, marketplace later
The migration is deliberately split in two. Ambcrypto reported that token migration begins about two weeks after approval, based on comments from the protocol’s founder. Cryptobriefing described the token and portal audits as taking roughly two to three weeks after the proposal passes, with migration following once those clear.
The marketplace cutover is a separate decision and has no date. It waits on its own governance vote plus further audits and rehearsals, and staking rewards end only at that point. Co-founder Greg Osuri, quoted by Blockchainreporter, stressed that nothing changes for live workloads until cutover, with tenants keeping existing SDL files and live leases while providers upgrade one daemon and re-register. Ambcrypto noted Osuri also flagged that voting was not yet over and that a small chance remained, though unlikely, that voters could change course.
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Why Akash says Solana wins
The stated driver is cost. Akash runs roughly 100 validators that bond AKT purely for consensus and maintains its own forks of cosmos-sdk, CometBFT and gogoproto, Blockchainreporter reported. On Solana, the project argues, programs inherit security from the validator set with no bonding or SOL stake required of Akash.
Blockchainreporter reported that Akash’s open request for proposals opened in December 2025 and narrowed by August 2026 to two finalists: Solana mainnet and an existing EVM layer 2. Its cost modeling found marketplace operation about nine times cheaper on Solana on a calm day and roughly 300 times cheaper under load. The Ethereum path won on security budget and audit depth but lost on cost under load and reliance on a single commercial sequencer. Ambcrypto noted other DePIN projects already on Solana, including Helium and Render Network. Blockchainreporter added io.net, Hivemapper and Nosana, and cited ZetaChain’s earlier vote to migrate ZETA to Solana, which drew 99.4% support.
What the market is saying
AKT’s reaction was modest. Blockchainreporter reported the token rose about 4% to roughly $0.68 in the 24 hours after the proposal opened, and Ambcrypto placed it bouncing between $0.63 and $0.78, with the MACD turning green after four days of bearish dominance and RSI divergence bullish. Blockchainreporter noted AKT remains about 92% below its April 2021 all-time high of $8.07 and down about 2% over 30 days. Ambcrypto reported a Long/Short Ratio above 1.49 across all accounts and top traders.
Why it matters
Akash is among the larger Cosmos-era projects to conclude that operating its own chain is a liability rather than an asset. If the vote passes, AKT holders gain access to Solana’s stablecoin base and daily fee payers, which the migrating project says a Cosmos appchain lacked. The move also sets a template for other DePIN networks weighing similar exits, following Helium’s earlier retirement of its own chain. For holders, the practical effect is a required migration within a fixed window, not an immediate supply change.
What to watch
Voting closes November 2, 2026; approval then triggers audits and the portal launch. The marketplace cutover vote, expected late in 2026 after rehearsals, is the next decision with operational consequences. Whether AKT clears $0.78 or loses $0.63 remains the near-term range to track. This is not financial advice, and crypto markets are volatile and uncertain.
Reported by ambcrypto.com.
Sources: AMBCrypto, Cryptobriefing, Blockchainreporter