Solana-Based Zeta Market Launches Token on Solana Mainnet
Zeta Markets, a decentralized exchange (DEX) operating on the Solana blockchain, is launching the Token Generation Event (TGE) for its native token, $ZEX.
The event marks the launch of $ZEX and the start of an airdrop designed to reward users and incentivize long-term participation in the protocol.
The $ZEX token will play a crucial role in governance, staking, and incentives on Zeta Markets, offering the community decision-making power and ensuring top-tier liquidity and optimal trading conditions.
What is Solana?
Solana is a blockchain platform designed for decentralized applications and crypto. Known for its speed and low transaction costs. Solana handles thousands of transactions per second.
The network has a consensus mechanism, Proof of History, combined with Proof of Stake. This scalability makes it an attractive platform for DEXs like Zeta Markets, as it supports fast trading operations.
Many DEXes are increasingly moving to layer-two solutions.
Token Sales and Background on Zeta Markets
Zeta Markets is a Solana-based decentralized exchange that focuses on on-chain perpetual futures. It aims to bring the performance and efficiency of centralized exchanges (CEXs) to the decentralized finance (DeFi) space.
Perpetual futures are a type of derivative contract and have no expiration date, allowing traders to hold positions indefinitely.
The TGE for $ZEX is a huge milestone for Zeta Markets. During a TGE, a project generates and distributes its native tokens to investors, users, and the broader community.
This event typically involves initial sales, public offerings, and airdrops, helping to fund the project’s development. For Zeta Markets, the $ZEX TGE and airdrop aim to reward early adopters and tap long-term involvement in the platform.
What is Staking?
Staking is a process in crypto where users lock up their tokens in a blockchain network. This supports operations, such as validating transactions and securing the network.
In return for their contribution, stakers will usually earn rewards, often in the form of additional tokens. It’s a popular way for token holders to generate passive income and participate in the governance of the blockchain.
With $ZEX, staking will play an important role in Zeta Markets’ ecosystem. The token will introduce one of the first vote-escrow models on Solana. This encourages long-term commitment by offering greater governance influence and boosted incentives for those who stake their tokens.
$ZEX will act as the native gas token and an incentive mechanism on Zeta X, Zeta’s DeFi Layer 2 solution on Solana, designed to deliver CEX-like performance on-chain.
The mainnet for Zeta X is expected to launch in the first quarter of 2025.
