{"id":14763,"date":"2024-06-27T15:54:55","date_gmt":"2024-06-27T12:54:55","guid":{"rendered":"https:\/\/forklog.com\/en\/zeta-markets-on-solana-to-distribute-100-million-tokens-in-airdrop\/"},"modified":"2024-06-27T15:54:55","modified_gmt":"2024-06-27T12:54:55","slug":"zeta-markets-on-solana-to-distribute-100-million-tokens-in-airdrop","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/zeta-markets-on-solana-to-distribute-100-million-tokens-in-airdrop\/","title":{"rendered":"Zeta Markets on Solana to Distribute 100 Million Tokens in Airdrop"},"content":{"rendered":"<p>The decentralized crypto derivatives exchange Zeta Markets, built on Solana, has initiated an airdrop of 100 million governance tokens, ZEX (formerly known as Z).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/search?q=%24ZEX&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ZEX<\/a> Claim is Live!<\/p>\n<p>Claim your airdrop at <a href=\"https:\/\/t.co\/MDMvOn4mjo\">https:\/\/t.co\/MDMvOn4mjo<\/a>.<\/p>\n<p>Welcome to the future of decentralized trading. <a href=\"https:\/\/t.co\/it7ZyVOvdu\">pic.twitter.com\/it7ZyVOvdu<\/a><\/p>\n<p>\u2014 Zeta Markets (@ZetaMarkets) <a href=\"https:\/\/twitter.com\/ZetaMarkets\/status\/1806262482622697800?ref_src=twsrc%5Etfw\">June 27, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The initiative aims to reward early users and encourage long-term participation in the protocol, according to a press release.<\/p>\n<p>The airdrop will distribute 10% of the total supply of 1 billion ZEX:<\/p>\n<ul class=\"wp-block-list\">\n<li>8% is reserved for Zeta traders in the first phase;<\/li>\n<li>2% is for early stakers; ZEX will be distributed 28 days after the <span data-descr=\"Token Generation Event \u2013 the event where a new token is first issued and becomes available to the public\" class=\"old_tooltip\">TGE<\/span> proportionally to the amount of tokens locked and the duration of staking.<\/li>\n<\/ul>\n<p>Users have 90 days to claim their funds.<\/p>\n<p>The initial distribution is based on a snapshot from June 7 of users&#8217; &#8220;Z-Score&#8221;\u2014a system linked to trading activity.<\/p>\n<p>An airdrop is also planned for members of ecosystem partners of the DEX who participated in the relevant competition.<\/p>\n<p>An additional 30% of the ZEX supply is allocated for incentives through distributions among exchange traders at the end of each epoch, occurring every 28 days.  <\/p>\n<p>According to the team, the &#8220;Genesis Epoch&#8221; will last until July 25 and will include 8 million ZEX as a reward for trading.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cOur goal at Zeta Markets is to create the perfect DEX, combining speed and convenience on par with <span data-descr=\"centralized platforms\" class=\"old_tooltip\">CEX<\/span> with the transparency and security of <\/em><em>DeFi<\/em><em>. The launch of ZEX marks an important step on this path, transferring decision-making power to the community and ensuring the long-term growth of the protocol through strategic alignment of interests among various parties,\u201d<\/em> the statement reads.<\/p>\n<\/blockquote>\n<p>ZEX provides governance, staking, and incentives within Zeta. <\/p>\n<p>The token employs a vote-escrowed model\u2014a system used in Curve Finance. In it, <span data-descr=\"governance token\" class=\"old_tooltip\">CRV<\/span> holders lock them for a set period to gain more voting power in the form of veCRV, encouraging long-term commitment to the project.<\/p>\n<p>According to the team, ZEX also serves as the native gas token and incentive mechanism for Zeta X, the &#8220;second layer of DeFi&#8221; on Solana.<\/p>\n<p>The solution aims to achieve CEX-like performance on-chain. The mainnet is expected in Q1 2025.<\/p>\n<p>According to <a href=\"https:\/\/defillama.com\/protocols\/Derivatives\/Solana\">DeFi Llama<\/a>, the <span data-descr=\"total value locked\" class=\"old_tooltip\">TVL<\/span> of Zeta Markets is $16.9 million.<\/p>\n<p>Project data indicates that the platform&#8217;s monthly active users exceed 125,000.<\/p>\n<p>Back in 2021, the Zeta team won the Grand Prize at the Solana Season hackathon.<\/p>\n<p>From January to June, participants in the crypto industry raised approximately $4 billion in various tokens through airdrops.<\/p>\n<p>On June 26, developers of the second-layer network Blast completed the first phase of the BLAST distribution. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The decentralized crypto derivatives exchange Zeta Markets, built on Solana, has initiated an airdrop of 100 million governance tokens, ZEX (formerly known as Z). The $ZEX Claim is Live! Claim your airdrop at https:\/\/t.co\/MDMvOn4mjo. Welcome to the future of decentralized trading. pic.twitter.com\/it7ZyVOvdu \u2014 Zeta Markets (@ZetaMarkets) June 27, 2024 The initiative aims to reward early [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1158,787,1159,596],"class_list":["post-14763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-airdrops","tag-dex","tag-solana-sol","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14763"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14762"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}