Zeta Markets, a decentralized exchange (DEX) that operates on the Solana blockchain, is introducing its native token, $ZEX, through a Token Generation Event (TGE). This event not only marks the launch of $ZEX but also kicks off an airdrop program aimed at rewarding users and encouraging long-term participation in the protocol.
The $ZEX token will play a crucial role in governance, staking, and incentives on Zeta Markets. It empowers the community by giving them decision-making power and ensures the availability of top-tier liquidity and optimal trading conditions.
Solana, the blockchain platform that Zeta Markets operates on, is well-known for its speed and low transaction costs. It can handle thousands of transactions per second, making it an ideal platform for DEXs like Zeta Markets that require fast trading operations. This scalability is achieved through a consensus mechanism called Proof of History, combined with Proof of Stake.
Many DEXes are now moving towards layer-two solutions to enhance their performance and efficiency.
Zeta Markets is a Solana-based DEX that focuses on on-chain perpetual futures. Its goal is to bring the performance and efficiency of centralized exchanges (CEXs) to the decentralized finance (DeFi) space. Perpetual futures are derivative contracts with no expiration date, allowing traders to hold positions indefinitely.
The TGE for $ZEX is a significant milestone for Zeta Markets. During this event, the project generates and distributes its native tokens to investors, users, and the wider community. This typically involves initial sales, public offerings, and airdrops, which help fund the project’s development. In the case of Zeta Markets, the $ZEX TGE and airdrop are designed to reward early adopters and encourage long-term engagement with the platform.
Staking is a process in the crypto world where users lock up their tokens in a blockchain network to support its operations, such as validating transactions and securing the network. In return for their contribution, stakers usually earn rewards, often in the form of additional tokens. Staking is a popular way for token holders to generate passive income and participate in the governance of the blockchain.
In the case of Zeta Markets, staking will play a vital role in its ecosystem. The $ZEX token will introduce one of the first vote-escrow models on Solana, encouraging long-term commitment by offering greater governance influence and boosted incentives for those who stake their tokens. Additionally, $ZEX will act as the native gas token and an incentive mechanism on Zeta X, Zeta’s DeFi Layer 2 solution on Solana, which aims to deliver centralized exchange-like performance on-chain. The launch of Zeta X’s mainnet is expected in the first quarter of 2025.
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