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Bitcoin:
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BTC Dominance:
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$2.13 T

Solana-based DEX Zeta Markets Introduces Its Native Token ZEX and Starts Airdrop Distribution

Airdrop

Solana-based decentralized exchange (DEX) Zeta Markets has opened airdrop requests by introducing its native ZEX token. The airdrop includes 100 million ZEX tokens, accounting for 10% of the total supply of 1 billion ZEX.

Zeta Markets, which specializes in derivatives trading, aims to both reward early users and encourage long-term participation in the protocol with this airdrop.

Zeta Markets founder Tristan Frizza told The Block in April that the token’s symbol would be “Z”, but this was later changed to ZEX.

The airdrop accounts for 10% of the total 1 billion ZEX supply, and 8% of this supply is reserved for Zeta traders in Phase 1. Those who stake early will be entitled to the remaining 2% in Phase 2, which will be distributed 28 days after the token creation event, which takes place today. Eligible users will have 90 days to claim their airdrop allocations.

The initial airdrop is based on users’ “Z-Scores,” a score system for trading activity based on a snapshot taken on June 7. There is also a community allocation reserved for participants in the community airdrop competition for members of Zeta’s ecosystem partners.

“At Zeta Markets, our goal is to create the ultimate trading exchange by blending the speed and convenience equivalent to centralized platforms with the transparency and security of DeFi,” said Tristan Frizza, founder of Zeta Markets. “The launch of $ZEX is an important step to enable long-term growth in the protocol by strategically aligning the interests of different stakeholders while giving decision-making power to our community.”

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“While not every airdrop is perfect, few community token drops have been as thoroughly researched or thoughtfully designed as the Zeta Markets token creation event,” added Avichal Garg, Managing Partner at Zeta backer Electric Capital. “This event exemplifies a well-structured approach to rewarding loyal users and sets a new standard in engaging with the community.”


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