Details On Zeta Airdrop & Token Generation Event

Zeta Markets has unveiled $ZEX, a crucial asset within its ecosystem facilitating governance, staking, and incentives. $ZEX token marks one of Solana’s initial implementations of a vote-escrow model, promising enhanced governance influence and increased incentives for stakers committed to the platform’s long-term success.

$ZEX Token Generation Event 

$ZEX token generating event serves a dual purpose as the native gas token and a key incentive mechanism on Zeta X, the platform’s innovative DeFi Layer 2 solution on Solana. Zeta X aims to deliver centralized exchange-like performance directly on-chain, launching in Q1 2025.

ZEX Airdrop & Distribution Details 

Starting immediately, eligible users have a 90-day window to claim their $ZEX airdrop allocations at token.zeta.markets. The airdrop encompasses 10% of the total $ZEX supply, with 8% reserved for Zeta traders. Early stakes stand to receive an additional 2% of the total supply, distributed 28 days post-Token Generation Event (TGE) based on staking amounts and duration.

Rewarding Long-Term Users And Community Participation

The initial airdrop aims to reward loyal users based on their Z-Score accrued up to the June 7th snapshot, with allocations reserved for OGs and traders from Z-Score Seasons 1 and 2 (7% of total supply). A 1% community allocation is designated for participants in Zeta’s community airdrop competition. A 7-day bonus period following the TGE will gradually unlock all allocation categories.

Trading Incentives and Community Grants

To incentivize trading activities, 30% of the $ZEX supply is allocated to ongoing trading rewards, distributed at the end of each 28-day epoch. The Genesis Epoch, running from June 20 to July 25, 2024, offers 8 million $ZEX in trading rewards, alongside boosted referral programs and community grants for ambassadors and creators.

Vision For The Future

Tristan Frizza, Founder of Zeta Markets, emphasized their vision to merge the speed and convenience of centralized platforms with the transparency and security of DeFi through $ZEX. The token launch signifies a significant step towards empowering the community with decision-making authority and driving sustained growth across various stakeholder groups.

Avichal Garg, Managing Partner at Electric Capital, commended Zeta Markets for their amazing community engagement through its perfectly planned token generation event. He highlighted Zeta’s role in advancing DeFi on Solana, positioning itself as a robust DEX alternative to centralized counterparts.

With ambitions to lead in decentralized perpetual contracts, Zeta Markets aims to capitalize on the shift from centralized to decentralized finance. Boasting over $10 billion in trading volume and 125,000 monthly active users, the platform looks forward to expanding further with the launch of Zeta X (ZX), aimed to revolutionize DeFi as Solana’s premier Layer 2 solution.

Stay up to date with ReadingCrypto and ace the crypto market!