Zeta Market is a decentralized exchange that runs on the Solana blockchain, taking advantage of its ability to perform many simultaneous operations quickly.
In addition to trading various cryptocurrencies, the DEX makes transactions with so-called perpetual futures, contracts with no expiration date. This increases the chances of making better deals, since it is possible to wait for the right moment to buy or sell.
History of Zeta Market
Australian Tristan Frizza became interested in the world of blockchains in 2017, when he bought a cryptocurrency for the first time. This led him to study Computer Science and virtual assets, developing the Zeta Market protocol.
In 2021, he thought about setting up his own exchange on Ethereum, but realized that it would not be possible to carry out transactions at scale there. With Solana, he was able to create a network on which it would be possible to carry out multiple transactions easily.
By using Solana as the basis for the DEX, Frizza knew that he would have several advantages. By charging lower transaction fees, the blockchain allows more people to use it. It is also more robust for millions of transactions to happen at the same time, without slowdowns.
How the DEX works
Because it is decentralized, the DEX allows users to have full control over the coins, without depending on an intermediary.
It trades both cryptocurrencies and perpetual futures completely on-chain. This is due to the very nature of Solana. Therefore, it is possible to make varied trades in a fluid way.
Perpetual futures
In the world of variable income that Zeta Market is part of, a class of traded assets has an "expiration date". They need to be sold within a certain period, which can be days, weeks or months. Some are liquidated within 24 hours.
The perpetual futures traded on Zeta Market are different from these assets because they do not have a deadline for sale. The investor can follow the appreciation and choose the moment of high to make the operation.
ZEX token
The ZEX token is native to Zeta Market. It is a governance feature, which gives holders voting power in assemblies to decide on improvements to the platform.
Those who stake the token for longer to promote more liquidity for the network are rewarded. The gZEX resource assigns a points system based on the time the holder stakes the coin and the amount of tokens blocked. This increases governance rights and encourages staking there.
Tokenomics
The total supply of the Zeta Market token is 1 billion units. Of the total, 10% was allocated to the airdrop, 20% to community contributors, 22.5% to the Zeta Treasury, 17.5% to investors, and 30% to encourage those who want to invest in the token.
Community members who have already transacted on the DEX received a score (called a Z-score). In the airdrop, those who had points were rewarded with a quantity of ZEX.
Tools to track ZEX quotes on NovaDAX
To track Zeta Market currency trading in real time, count on NovaDAX. The dashboard is intuitive, has updated graphs and information on several coins. Visit the website and stay up to date.
