[Zeta Markets launches governance tokens to guide Solana-based DEX towards community rules]
According to information obtained by CryptoSlate, Zeta Markets, a decentralized exchange (DEX) built on the Solana platform, launched its governance token Z today. This move demonstrates Zeta’s commitment to building a community-centered protocol that allows community members to influence decisions.
As the Solana ecosystem grows in popularity, Zeta has gained widespread attention from the crypto community. The DEX reported a record trading volume of $1.2 billion in March, contributed by more than 71,000 active users.
As of the time of the press release, DefiLlama data shows that the Zeta platform’s total assets locked (TVL) has reached a new high of over $21 million.
Z tokens will have a limited total supply of 1 billion. Zeta plans to distribute 10% of tokens through airdrops, of which 5% will be allocated to Zeta traders and community members, 1% will be reserved for strategic community users within the Solana ecosystem, and the remaining 4% will be distributed to Z Token holders.
In addition, approximately 30% of the supply will be used to reward exchange market makers and traders for their contribution to maintaining liquidity.
Tristan Frizza, founder of Zeta Markets, explained that the token issuance is part of the long-term vision of the protocol, which includes the launch of an innovative voting lock model and reward mechanism on Solana. Zeta also plans to launch the first Layer2 Rollup on Solana by the end of the year.
Frizza said: “For a mature platform that already delivers billions of dollars in trading volume to thousands of traders, we are excited to launch $Z, Zeta’s governance token. This will empower the community to shape the future of the protocol. development, and participate in the evaluation of major decisions to jointly create the best DEX experience.”
