Zeta Markets Releases Litepaper For Zeta X Rollup, Mainnet Launch Anticipated In Q1, 2025
In Brief
Zeta Markets published its Litepaper for Zeta X, a DeFi Layer 2 solution on Solana, with the mainnet anticipated in the first quarter of 2025.
Solana-based derivatives platform Zeta Markets (Z) published its Litepaper for Zeta X (ZX), a decentralized finance (DeFi) Layer 2 solution on the Solana blockchain. The Zeta X mainnet is anticipated to go live in the first quarter of 2025.
ZX will function as a Solana rollup designed to enhance the trading experience. Settlement and consensus (DA) will be managed on Solana‘s native Layer 1. Blocks will be publicly accessible for full node access on Solana Layer 1.
Meanwhile, execution will be managed by an off-chain zkVM-compatible matching engine developed in Rust. This design allows for high throughput, achieving up to 10,000 transactions per second (TPS) and low latency of 3-5 milliseconds, comparable to major centralized exchanges (CEXs). Additionally, it will support capital efficiency with up to 50x leverage trading and multi-collateral options.
This setup aims to scale and transform decentralized trading, providing performance similar to CEXs but on-chain. ZX will provide the speed, liquidity, and convenience typical of CEXs, combined with the essential advantages of on-chain infrastructure, including self-custody, transparency, and security.
The Z token is the governance token of the Zeta Markets protocol, intended to align the community’s interests with the protocol’s objectives. Through ZX, the utility of the Z token will extend beyond governance and incentives. It will act as the native gas token on the ZX rollup and will be used as an incentive mechanism for stakeholders such as sequencers, full nodes, and prover nodes to perform essential operations.
Zeta Markets Allocates 1% Of Total Z Token Supply To Pyth Network, Jupiter, And Others Included In Community Airdrop
Zeta Markets is building a perpetual exchange platform designed for swaps trading across a range of major cryptocurrencies. The project has received backing from notable investors such as Wintermute, Solana Ventures, Jump Capital, and Electric Capital. To date, Zeta Markets’ trading platform has achieved a trading volume of over $4.5 billion and has a user base of more than 71,600 individuals in monthly activity on the Solana blockchain.
Recently, Zeta Markets launched a community airdrop, distributing 1% of the total token supply, worth $10 million, to communities and supporters within the Solana ecosystem. This distribution included participants from Pyth Network, deBridge, Mad Lads, and Jupiter, among others.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
