DeFi
Building the first perpetual DEX for mass adoption – DL News
The second largest derivatives platform on Solana in terms of daily volume, Zeta Markets has launched a major campaign to claim the top spot. Since it runs on Solana’s public blockchain network, Zeta offers the best of both worlds: the speed and user experience of a centralized exchange, plus full self-custody and transparency for users.
Zeta is one of the most widely used fully on-chain Central Limit Order Book (CLOB) perpetual exchanges on the market today.
With Zeta, users benefit from:
- Security: total self-custody of assets, USDC margin;
- Capital Efficiency: Up to 10x leverage with cross margin;
- Price discovery without centralization: Fully on-chain CLOB;
- Institutional liquidity: programmatic connectivity to smart contracts using SDK/CPI programs for market makers and other integrations;
- Gamification: ranking, benchmarks and commercial rewards;
- User-friendly experience: Extremely fast and intuitive trading user interface for web and mobile;
- Quick Start: Deposit from Solana or other chains in a single transaction on the Zeta interface.
Decentralized perpetual contract exchanges (perp DEXs) saw record monthly trading volume in March 2024 at $317 billion, representing 395% year-over-year growth, according to DefiLlama. Solana simultaneously experienced its highest growth in derivatives trading volume, at 244%. Zeta is the main driver of this growth in the perp DEX sector, as its volume soared 397% during the same period.
Last month, the company revealed plans to release Solana’s first L2 rollup. This month, even more details about future plans were revealed when the company released the release schedule and planned incentives for $Zits soon-to-be-launched governance token.
The Token Generation Event (TGE) will launch the following unlocks: An initial airdrop of 8% of the $Z supply distributed to merchants, with loyalty enhancements for early adopters. Initial $Z bettors will qualify for an additional 2% airdrop, issued in the form of a $Z staked period (28 days) after the TGE.
Merchants will receive incentives worth 30% of the total supply over 90 months, while 22.5% released over 24 months will be committed to the Community Treasury to fund multi-year growth initiatives. These include liquidity provisioning, as well as Zeta’s creator and ambassador programs. Finally, the $Z token distribution airdrop will see 20% allocated to contributors and 17.5% to investors.
Zeta’s goal is to compete with central exchanges in terms of speed, cost, user experience and security, while providing the benefits of DeFi, i.e. self-custody, accessibility and the ability to co-own the protocol and participate in governance.
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For traders, trading more on Zeta will yield a Z-Score, which will determine the allocation of $Z during incentives on the airdrop platform and after the airdrop. More Z-Score, more $Z. Users can earn more with Z-Score multipliers, for example, a 10% boost if they use a Referral link. Users also earn 10% of referred fees and 10% of referred Z-Score for life for all referrals. In the last two months alone, Zeta users have generated over $1 billion in trading volume.
The company also recently announced that it had raised a $5 million strategic seed round, bringing total funding to $13.5 million to date. The tour was led by Electric capitalwith the participation of DACM, Air shaftand prominent angel investors such as Anatoly Yakovenko of Solana and Mert Mumtaz of Helius. Winter Mute, Skip crypto and Solana Ventures are investors in previous rounds.
To date, Zeta has processed over 6.5 million transactions and $7.5 billion in volume, with over 100,000 monthly users. Most of these indicators increase by an average of 50% each month. Learn more about Zeta Markets and experience perpetuals at the speed of light. Today.