Solana-based derivatives protocol Zeta Markets announced the commencement of the Zeta community airdrop, aiming to distribute 1% of the total supply of Z tokens, valued at $10 million, to its supporters and communities within the Solana blockchain ecosystem. This includes contributors from platforms such as Jupiter, Pyth Network, deBridge, Mad Lads, Tensor, AssetDash, and Superteam.
The selection of communities was based on their established product integrations with Zeta Markets or their ongoing strong support for both Zeta Markets and the Solana blockchain ecosystem.
The allocation operates in the form of a competition. Each community has been assigned Z tokens, distributed approximately according to the number of eligible users within their community. These allocations are static and exclusively available to members of the respective communities. To access their allocations, eligible users must declare their affiliation with a particular community and engage in trading activities on Zeta Markets. The amount of Z tokens allocated to users within each community is determined by their Z-Score, which increases with trading activity. The competition commenced today and is scheduled to conclude at 23:59 UTC on May 21st.
At the conclusion of the competition, eligibility for each community will be verified. It’s important to emphasize that users without a Z-Score will not receive an allocation. To be eligible for an allocation, users must join a community and actively trade on Zeta Markets.
Among the 1% allocation, 0.8% will be directly distributed to traders proportionate to their Z-Score, while the remaining 0.2% has been set aside as a bonus allocation for the top 3 communities. The bonus allocation has been divided, with 1 million tokens awarded to the community ranked first, 670,000 tokens allocated to the second-ranked community, and 330,000 tokens designated for the third-ranked community.
1/Announcing the Zeta Community Airdrop We’ve allocated 1% of $Z supply (10M) to our closest supporters & communities on @Solana@JupiterExchange @PythNetwork @deBridgeFinance @MadLads @tensor_hq @assetdash @SuperteamDAO Read on for full details, including… pic.twitter.com/e41uhMlWUE
— Zeta Markets | v2 Live (@ZetaMarkets) May 8, 2024
Zeta Markets Unveils Z Tokenomics
Zeta Markets is developing a perpetual exchange platform tailored for swaps trading involving a variety of major cryptocurrencies. The project has garnered support from prominent investors, including Wintermute, Solana Ventures, Jump Capital, and Electric Capital. To date, Zeta Markets’ trading platform has facilitated a trading volume exceeding $4.5 billion and boasts a user base of over 71,600 individuals engaging in monthly activity on the Solana blockchain.
Recently, Zeta Markets has disclosed the tokenomics of its native token, outlining a distribution strategy that designates 30% to platform trader incentives, 22.5% to the community treasury, 20% to contributors, 17.5% to investors, and 10% to airdrops. More specifically, 5% of the total token supply is set aside for traders based on the Z-Score methodology, 1% is allocated to users affiliated with strategic communities within the Solana ecosystem, and 4% is reserved for participants in staking activities.
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