Zeta Markets, which describes itself as a leading decentralized derivatives platform on Solana, announced the launch and airdrop of its native token Z.
According to the official statement, the token to be distributed via airdrop will be used in the management of the decentralized platform and will also provide additional rewards to token holders.
Z tokens, with a total supply of 1 billion, will be offered via airdrop with an initial 10% distribution to active Zeta traders, Z token stakers, and Zeta users from strategic Solana communities. Active traders will receive 50% of the initial distribution based on their Z-score, Zeta's reward system for platform users. Z altcoin stakers will receive 40%, while the rest will be allocated to strategic Solana community members.
In addition, Zeta will allocate 30% of the token supply to incentivize market makers, who play a major role in ensuring high-quality liquidity and optimal exchange conditions. Market makers are responsible for creating buy and sell orders on an order book and maintaining solid liquidity that enables large orders to be executed at stable prices.
The launch of the governance token is part of an overall strategy that also includes plans to launch Solana's first layer 2 scaling solution. “Zeta's vision since day one has been to make decentralized finance a viable alternative to centralized, black-box financial systems,” said Tristan Frizza, Founder of Zeta Markets.
“With a platform that has already enabled billions of dollars in volume for tens of thousands of traders, we are excited to launch Z, Zeta's governance token, to closely align the long-term interests of users with the protocol.”
*This is not investment advice.