Solana-based decentralized exchange (DEX) Zeta Markets (ZEX) announced the launch of its native token and initiated airdrop claims. The airdrop aims to reward early adopters and foster sustained engagement with the protocol. It also marks the beginning of community ownership and governance within Zeta Markets.
Claims are now open and will continue for the next ninety days, closing at 09:45 UTC on September 25th.
Users have the flexibility to choose between claiming and staking their tokens in a single action to maximize benefits through the Diamond Hand Claim. This includes receiving the full allocation of the 7-day Bonus immediately, becoming eligible for increased rewards in the Staking Airdrop, gaining immediate access to enhanced trading rewards from Epoch 1, and obtaining augmented governance rights.
Alternatively, users can opt for an immediate claim, which allows them to receive the airdrop tokens at any time, with the 7-day bonus rewards distributed linearly over the week following the token generation event (TGE). After claiming, users have the option to stake their tokens to participate in the Staking Airdrop and benefit from enhanced incentives and governance power in subsequent epochs.
The $ZEX Claim is Live!
Claim your airdrop at https://t.co/MDMvOn4mjo.
Welcome to the future of decentralized trading. pic.twitter.com/it7ZyVOvdu
— Zeta Markets (@ZetaMarkets) June 27, 2024
ZEX Staking Opens Post-Token Launch. Early Adopters Are Eligible For Staking
Additionally, following the token launch, ZEX staking is now open to all users, with early participants eligible for the Staking Airdrop. A total of 2% of the token supply, equivalent to 20 million ZEX, has been allocated to those who stake ZEX during the Genesis Epoch, which concludes at 09:59 UTC on July 25th. The Staking Airdrop rewards will be allocated at the end of the Genesis Epoch in the form of staked ZEX or gZEX tokens, which vest over a period of three months.
Beginning from Epoch 1 onward, ZEX stakers will benefit from increased trading rewards, with the potential for greater governance influence in subsequent periods. The rewards scale with the amount of ZEX staked and the duration of the staking commitment.
After its release, ZEX also became accessible on multiple cryptocurrency exchanges, including Bybit, Backpack, Gate.io, KuCoin, Cube, MEXC, Raydium, and Jupiter.
Zeta Markets is building a perpetual exchange platform designed specifically for swaps trading across a range of major cryptocurrencies. The project has attracted backing from notable investors such as Wintermute, Solana Ventures, Jump Capital, and Electric Capital. According to information on the platform’s website, Zeta Markets’ trading platform has overseen a trading volume surpassing $3.8 billion to date.
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