Solana-based decentralized exchange (DEX) Zeta Markets has officially launched the Z governance token. According to a statement, the introduction of Z is an important development in Zeta's evolution towards a community-driven governance structure, and the token should play a key role in the growth of the protocol and the broader goal of facilitating the proliferation of decentralized finance (DeFi) on the Solana blockchain. It should.
Commenting on the launch, Tristan Frizza, founder of Zeta Markets, said: "We are excited to launch $Z to closely align the protocol with the long-term interests of users. This will allow the community to shape the future trajectory of the protocol and participate in important decisions.
According to DeFiLlama, the #BTC sector on #Solana is poised for a significant upswing in 2024, with the total value of #blockchain (TVL) growing by more than 1,400% to nearly $5 billion as of April. Zeta Markets has benefited from this growth, reaching new heights with over $1.2 billion in monthly transactions and attracting over 71,600 active users in March alone.
Z #token holders will be able to influence the direction of the Zeta protocol and contribute to the management of the Solana ecosystem. The tokens facilitate greater interaction between Zeta participants by introducing a voting model to Solana and providing rewards for bets.
The initial token distribution will include a 10% airdrop, of which 5% will go to active traders and Zeta community members, 1% to users who are part of Solana's strategic community, and 4% to those who participate in Z token bidding. In addition, 30% of the total issuance amount is intended to reward liquidity providers, which is very important for maintaining a quality market environment.
The Z token launch is just the beginning of Zeta's public roadmap, which includes the release of Solana's first L2 rollup later this year, and an important step towards democratizing the DeFi space.
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