Zeta Markets dominates the Solana mindshare as their long awaited $ZEX token is gearing up for launch.

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$ZEX Airdrop TL:DR

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TGE (Token Generation Event) launch date and time has not been announced.

1,000,000,000: Total Supply
70,000,000: allocated for Z-Score periods
8,000,000: allocated for Genesis Epoch period (June 7th-TBD)
300,000,000: allocated for ongoing and future trading incentives

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Check your $ZEX allocation using Backpack Wallet.

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What is Zeta Markets?

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Zeta Markets is one of the largest Solana DEXs (decentralized exchanges) with a standout suite of trading tools.

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They specialize in perpetual trading (perp trading) contracts which enable users to leverage their trades (up to 50x leverage) and place Long/Short positions on cryptocurrency tokens.

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Zeta Markets was born during a 2021 Solana hackathon event and the team has been heads down building ever since.

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Since then the DEX has secured a market share of 40% and has processed more than 6M+ trades for a staggering $10B in total volume.

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Zeta Markets Core Mission

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‍Zeta Markets launched with a simple goal to provide the best trading experience and grow into the biggest DEX on the Solana blockchain

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From the outset, Zeta was built for speed, simplicity, and security.

We have continued to build and adapt through the 2022 bear market, the FTX collapse, and network challenges, committed to delivering the best trading experience for everyone, only possible on Solana.

Zeta Markets Blog

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Zeta Markets Recent Fundraising Round

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Zeta Markets recently completed a $5M fundraising round led by Electric Capital (bringing their total raise to $13.5)

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Web3 capital venture firm Electric Capital has investment ties to Kraken, Magic Eden, Bitwise and numerous other crypto brands.

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The fundraise will support the development of the first DeFi Layer 2 (L2) on Solana, which aims to achieve the performance of a centralized exchange, whilst maintaining the security and self-custodial nature of a decentralized exchange.

Zeta Markets Blog

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What is $ZEX?

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$ZEX is the governance token of Zeta Markets protocol along with a pivotal role as the native gas token for the upcoming ZX (Zeta X) platform.

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The token generation event (TGE) date has not been released.

Ticker: $ZEX
Circulating Supply: TBD
Total Supply: 1,000,000,000

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$ZEX allocations for traders are determined by their performance during Z-Score Seasons 1 and 2.

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$ZEX Tokenomics

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Active Zeta Markets users receive a lions share of the total $ZEX supply.

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10% will be distributed via airdrop.

30% will be reserved for platform incentives, dedicated to traders.

22.5% will form the Community Treasury, funding different initiatives including Zeta’s multi-year creator & ambassador programs.

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The remaining supply is earmarked for technical contributors and investors, it is locked in a vesting schedule for several years.

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Read the full $ZEX tokenomics paper here.

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Z-Score

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Traders have been racking up 'Z-Score' points as they jockey for a generous airdrop allocation.

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Z-Score is Zeta Markets trading incentive program that rewards trading activity with digital points that are associated to a specific wallet.

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Backpack and Zeta Markets had a longstanding collaboration in which traders who used Backpack Wallet received a points multiplier (1.1x) for their Z-Score rewards.

Note: Z-Score has been shuttered and Epochs has begun.

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Genesis Epoch

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Z-Score Season 1 and 2 served as a proving ground for both technical capabilities on Zeta Markets end along with being a loyalty mechanism for traders.

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Genesis Epoch is the trial stage for a monthly reward system that will take place over a 28-day period, an epoch.

8M $ZEX tokens are earmarked for participants of the Genesis Epoch event.
Genesis Epoch began on June 7th and ends 28 days after $ZEX is launched
New users who join during the period enjoy a 15% Z-Score boost

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Serving as an initial phase, the Genesis Epoch extends beyond this standard length to ensure a smooth transition into the new system. At the end of each cycle, traders receive $ZEX tokens proportional to their total Z-Score.

Introducing Zeta’s Genesis Epoch

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According to Zeta Markets, all trader and community incentives will be consistently epoch-based which will ensure continuous rewards for active users and a broad $ZEX distribution.

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Z-Loot

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Zeta Markets gamifies their trading experience with special bonuses for users who execute a trade over $100 USD.

1.25x: 10% chance
5x: 1% chance
100x: <0.01% chance

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What is Zeta X?

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Zeta X (ZX) is a "trustless Layer 2 for decentralized derivatives trading on Solana."

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ZX is our solution to providing the optimal trading experience that preserves the core advantages of on-chain trading such as complete self-custody, transparency, proof of reserves and verifiability of state changes - qualities that both DeFi users and market makers highly value.

Zeta X Litepaper

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$ZEX is an integral component to the new Zeta X initiative by serving as the native gas token which facilitates transactions on ZX.

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ZX is designed to offer trading functions that are expected in the centralized exchange world including borrowing, lending and spot trading.

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Our goal is to achieve the performance of a CEX, whilst maintaining the security & self-custodial nature of a DEX.

Zeta Markets

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How to use Zeta Markets with Backpack

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Backpack Wallet

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Prior to the end of Z-Score Season 2, traders on Zeta Markets who used the received a points multiplier (1.1x) for their Z-Score rewards.

Note: The multiplier is not in effect for Genesis Epoch

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Download the Backpack Wallet:

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Backpack Exchange

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Zeta Markets token, $ZEX, will be listed on Backpack Exchange as a ZEX/USDC trading pair.

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Trade ZEX on Backpack Exchange.

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Key Features of Zeta Markets

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High-Speed Trade Execution and Low Transaction Costs

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Zeta Markets high speed trade execution is #OnlyPossibleOnSolana

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The Solana blockchain provides builders like Zeta Markets a lightning fast platform that processes transactions nearly instantly and inexpensively.

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Self-Custodial and Permissionless

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Zeta Markets is a decentralized exchange (DEX) meaning that use of the platform is completely noncustodial.

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In crypto, noncustodial means that a use has complete control over their digital assets.
Zeta Markets does not 'hold' your cryptocurrency.

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This means that there is no deposit and withdrawal process required to start trading on the exchange. A user simply connects their crypto wallet and is able to start using the platform.

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Zeta Markets role as a DEX provides a semi-anonymous experience for crypto users.

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There are no KYC (Know Your Customer) identity verification requirements required before a user can begin using Zeta Markets trading tools.

KYC requires users to reveal their identity by submitting documents such as official identification cards, proof of address and proof of income.

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Anyone with a compatible wallet (like Backpack Wallet) can begin trading as soon as they connect to the DEX.

Zeta Markets does prevent users from certain non-crypto friendly regions from accessing the platform.

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Perpetual Contracts

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Zeta Markets specializes and has become known throughout the crypto ecosystem for their innovative perpetual trading contracts.

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Perpetual contracts do not have an expiration date meaning that traders can commit to their trading strategy indefinitely.
Users place their order and are charged a funding rate based on their position that changes over time.

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Funding rates in crypto are similar to fees or rebates depending on your position.

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For example, let’s say you are long 100 lots of SOL-PERP and hold it for 24 hours. Over that time, the orderbook midpoint is $11.76 and the SOL oracle price is $12 (in reality these will fluctuate).

A negative funding rate means that shorts pay longs. Therefore your long position will be paid $24 per day as funding is negative.

‍Perpetual Funding System

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Central Limit Order Book (CLOB)

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CLOB stands for 'Central Limit Order Book'

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Zeta Markets uses this method to aggregate buy/sell orders and then matches them based on price and priority.

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Functionally this provides token pools with a tremendous amount of liquidity which reduces slippage amounts for traders. Slippage is the price delta between expected trade price and actual trade price.

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Zeta Market's CLOB operates on Solana and provides all the benefits of the blockchain that are described above.

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Desktop and Mobile

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Zeta Markets is one of the few Solana DEXs with a highly refined experience available via both Desktop browser and mobile.

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Although they do not have specific applications for iOS and Android, the platform has been built for use in mobile browsers as well.

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Learn more about Backpack

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