- One hundred million Z tokens will be airdropped by Zeta Markets upon debut.
- Next month is when the token launch and airdrop are anticipated to happen.
Zeta Markets, a decentralized exchange for trading cryptocurrency perpetuals with its headquarters in Solana, is about to publish and airdrop Z, a “governance” token.
Zeta said on Tuesday that the Z token will have a 1 billion coin total supply, of which 10%, or 100 million, will be distributed in an airdrop.
Based on their Z-Score, an ongoing point system on the site, active traders and community members of Zeta will receive half of that 10% via airdrop.
According to Zeta, users who are a part of strategic communities in Solana will receive an additional 1% of the rewards, with Z stakers receiving the remaining 4%.
Z token is anticipated to launch in May, coinciding with the beginning of airdrop claims. Snapshot, according to Frizza, will be revealed “in the coming weeks.”
Frizza went on to say that Zeta is presently doing due diligence with “several of the top exchanges” after receiving several listing offers for Z.
Z is going to “pioneer” the Solana vote escrow scheme
The Z coin, according to Zeta, will introduce the vote escrow concept on Solana, following Curve’s lead on Ethereum. Vote escrow: Curve’s governance token holders can gain voting power by locking up or escrowing their tokens for a predetermined amount of time.
Voting power accrues according to the length of time CRV tokens are locked in escrow. Stakeholders are encouraged by this method to make choices that will advance the Curve protocol in the long run.
According to Frizza, 17.5% of Z’s total supply is owned by Zeta’s venture capital investors. Their tokens vest over three years after the launch, with a one-year cliff.
Zeta was founded in 2021 and is supported by well-known venture capital firms, such as Solana Ventures, Electric Capital, Jump Capital, and Wintermute.
Zeta will begin rolling out Solana L2
Zeta intends to issue a Solana Layer 2 rollup this year following the token launch. It will use Solana exclusively as the settlement and data availability layer, which aims to allow Zeta to achieve faster settlement times and cheaper DA costs than comparable Ethereum rollups.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
