This event marks the start of the ZEX token airdrop, which aims to reward loyal users and promote long-term participation in the protocol. ZEX will be integral to Zeta Markets, supporting governance, staking, and incentives.
Stakers will be exponentially rewarded for the duration of their lock, allocating more power to those committed for longer. Additionally, stakers will have the ability to gradually vest and unlock their tokens, providing users more liquidity and limiting the supply shock caused by mass unlocks.
The airdrop includes 10% of the total ZEX supply, with 8% reserved for Zeta traders. Early stakers can qualify for a second airdrop, distributed based on staking duration and amount locked.
Eligible users have 90 days to claim their airdrop allocations. The initial airdrop will distribute 80M $ZEX across almost 80,000 users.
The allocation was capped for whales, and sybil analysis was conducted to ensure a fair and equitable distribution to the 80k qualified wallets. ZEX will serve as the native gas token and incentive mechanism on Zeta X, Zeta’s upcoming DeFi Layer 2 on Solana.
Zeta X aims to deliver centralized exchange (CEX)-like performance on-chain, with its mainnet launch expected in Q1 2025. The Genesis Epoch running until July 25, 2024, features 8M ZEX in trading rewards, along with a boosted referral program and community grants.
With over $10 billion in trading volume and 125,000 monthly active users, the platform plans to scale through the launch of Zeta X.
Zeta is advancing the frontier of what is possible on Solana by introducing a DEX that combines the performance of centralized exchanges with the transparency and security of self-custodial, decentralized finance. Zeta Markets continues to focus on long-term growth and community engagement, setting new standards for decentralized exchanges.