Original author: Sleeping in the rain
Original source: Substack
On April 9th, @ZetaMarkets announced the launch of $Z.
As an old investor, I paid attention to this project in the Solana hackathon in 2021 and wrote articles about Zeta on the official account. At that time, Zeta was still an option protocol focusing on the concept of partial collateral. Now, after changing its product path, Zeta has finally ushered in its own coin issuance moment. This article mainly wants to talk to you about its product changes, token economics, and its points activities.
Let's dive in together ⬇️
/ product
Zeta Markets is now a decentralized perpetual contract exchange that uses CLOB (central limit order book). On Solana, it has two competitors: Drift and Jupiter.
The reason for this protocol is its luxurious investment background - you can see that many of Solana's protocols are influenced by Jump, including Wormhole, Pyth, etc. Therefore, I personally think that this protocol may be a big hair in the ecosystem.
/ Token Economics
$Z Total Supply: 1B
10% of the tokens will be used for airdrops to “Strategic communities on Solana” and Zeta Markets users.
The initial circulation of $Z is only 10%. Among them, 5% will be airdropped to Zeta users based on Z-Score; 1% will be given to "Solana members of strategic communities"; and 4% will be given to $Z stakers.
Token Utility (vetoken model):
Governance
Staking: Get extra income and participate in governance through staking
Incentives: 30% of $Z will be used to incentivize Zeta Markets traders and LPs.
/ Points Activities
The first season of Z-Score has ended, and we are currently in the second season. The more Z-Score you have, the more airdrops you will get in the future.
How to earn points:
1. Invitation
Inviting other users to join Zeta Markets will earn you 10% of the transaction fee dividend and 10% of the Z-Score reward. Users who accept the invitation can get a 10% Z-Score Boost.
Welcome to use my invitation link to get 10% Z-Score Boost: dex.zeta.markets?r=3tGBsF
2. Trading to increase points in the second season
In Season 2, both Takers and Makers can earn trading points. In short, the more you trade, the more Z-Scores you will get.
In addition, the top 100 traders in PnL ranking can also receive points Boost. The higher the ranking, the higher the Boost multiplier.
In addition, Zeta Markets also launched an NFT collection in the second season - Z-Pass. The main function of Z-Pass is to increase the user's Z-Score Boost multiplier. Z-Pass is divided into five rarities, as shown in the figure. Z-Passes of different rarities correspond to different Boost multipliers and durations. To activate NFT, users need to Burn the NFT. For specific methods, please refer to: https://docs.zeta.markets/z-score/s2-zeta-cards
3. Others
In the future, Zeta Markets will also give users Z-Score by launching some reward activities. In addition, users who stake 1,000 $PYTH and Backpack wallets can also enjoy 1.1x Z-Score Boost.
The boost calculation formula is as follows⬇️
