Zeta Markets Announces Airdrop Plan for Z Token

Zeta Markets Announces Airdrop Plan for Z Token

Zeta Markets, the decentralized derivatives exchange on Solana, has announced its plans to launch the Z token and details about the upcoming airdrop for users.

Zeta Markets Airdrop for Z Token

Zeta Markets has revealed that the Z token will have a total supply of 1 billion tokens, with 10% (100 million tokens) allocated for airdrop purposes. Half of this 10% airdrop will be distributed to traders and community members of Zeta, determined by their Z-Score. Additionally, 1% will be allocated to members of key communities within the Solana ecosystem, and the remaining 4% will be airdropped to Z token stakers.

Tristan Frizza, the founder of Zeta, mentioned that the Z token might be launched in May this year. Official information regarding the snapshot date will be announced in the coming weeks.

Implementation of Escrow Model

Zeta Markets will pioneer the escrow approach on Solana with the Z token. This model, popularized by Curve Finance on Ethereum, allows users who commit to long-term token locking to have more voting power in governance decisions.

Zeta stated that 30% of the total supply of Z tokens will be allocated to incentivize maker and taker trading activities on the platform.

Early investors in Zeta will hold 17.5% of the total supply, with a 1-year lock-up period followed by a 3-year vesting schedule. Notable investors backing Zeta include Electric Capital, Jump Capital, Wintermute, and Solana Ventures.

Development Plans for L2 Rollup on Solana

Zeta also plans to deploy a Layer-2 Rollup on Solana this year. This solution will use Solana for settlement and data availability (DA). The project claims that this approach will allow Zeta to achieve high transaction processing speeds and lower DA costs compared to most Rollups on Ethereum.

Frizza stated:

"This direction allows us to build an exchange with a fast and optimized experience, comparable to centralized exchanges. Additionally, the Layer-2 solution helps us minimize congestion on the current Solana Layer-1. Technical details about this Layer-2 will be released in the coming weeks."