Overview

Yesterday we lit up our second Community Town Hall on Discord. Joined by two of our founders and top Zeta contributors, we dove deep in an epic AMA session.

Missed it live? No worries, here’s your recap.

Roadmap & Vision

Perps trading is one of the largest markets in crypto. Traders demand a great experience, security, speed, and low-cost transactions. Zeta aims to deliver all of this with no compromises.

Upcoming features:

• Multi-collateral support.

• A pioneering Solana DEX Layer 2, combining CEX performance with decentralization benefits.

The $Z token will complement our platform with governance, incentives and staking utility, marking its shift towards a community-centered protocol. For more details, check out our roadmap.

$Z Airdrop

• The initial airdrop has been increased to 8% of the supply based on community feedback and is exclusively dedicated to traders based on their Z-Score

• An additional 2% is reserved for early stakers of $Z to reward long-term commitment (in addition to staking rewards). Longer staking = greater airdrop.

• Multipliers for OGs and Season 1 traders, with OGs receiving the largest multiplier.

For more details, check out our latest update and the $Z token whitepaper.

TGE (Token Generation Event)

• TGE is scheduled for Q2 2024.

• The team is working tirelessly to ensure a successful launch. Activities include building the staking contract to ensure utility from day one, auditing the staking contract, optimizing token liquidity, collaborating with Jupiter on the launch page, legal work to prepare the foundation and establish the DAO.

Recent Milestones

• Surpassed $5B in cumulative volume.

• Reached a $240M 24h volume ATH.

• Ranked among the top 10 perp DEXs on DefiLlama.

All of this during Solana congestion… 🔥

What's Next

• We’ll continue to keep the community informed, ensuring your feedback consistently shapes the direction of Zeta.

• More Community Town Halls and exclusive teasers for upcoming campaigns will be shared through our community channels.

  
  

Q&A

• Will users be able to claim their tokens once the airdrop occurs?

  Yes, tokens can be claimed immediately. Users who decide to stake their tokens will be eligible for a second airdrop.

  
  

• Will there be a minimum required Z-Score?

  Yes. This is intended to ensure that all rewards go to real users. However, achieving this minimum won't be difficult.

  
  

• Tiered vs. linear airdrop?

  We are considering both options and will choose an option that best allows us to reward genuine users.

  
  

• Do we think a validator may be of interest to us before rolling out the Solana DeFi Layer 2?

  It’s definitely something we're interested in, especially given the recent congestion issues on Solana. We actually run our own validator. You can already stake with the Zeta validator; it has been successfully operating for at least the past six months. We've also been talking with the Sanctum team to explore the opportunity of developing a Zeta liquid staking derivative product that would help bootstrap staking through that validator, which could potentially be used to improve transaction processing on our platform. However, this is something we will further explore after the token launch.

  
  

• Are the staking rewards exclusively for traders?

  There are going to be two sets of staking rewards. The 2% component of the airdrop that will go to stakers of $Z will be entirely based on the staking activity. After the token launch, we'll implement a regular incentive program allocating 30% of the total supply to traders and market makers. Within this program, stakers will receive boosted incentives, but those stakers will need to also trade. The idea is to reward users who are both staking and trading. We are open to community feedback on this approach.

  
  

• Do we plan on increasing the leverage?

  Currently, Zeta operates on Solana Layer 1. In the past, we've faced congestion issues that affected operations. For example, when the network is congested, our Oracle feeds are slow to update, leading to complications, particularly with liquidations. Reducing leverage from up to 20x to 10x has proven beneficial, resulting in fewer liquidations and a better trading experience. Looking forward, as congestion issues improve and as we roll out Zeta Layer 2, we definitely plan to increase leverage.

  
  

• How is the 1% of the airdrop going to community partners going to work?

  This 1% will be reserved for strategic partner communities. Anyone eligible will be able to earn Z-Score. We’ll be releasing a community leaderboard, and essentially, traders will be able to directly contribute to their community's allocation. Members of the top 3 communities will earn a bonus allocation on top. This means also in this case, no one is receiving $Z without active trading on Zeta. More details to come next week!

That’s a wrap for now.

Big thanks to everyone who tuned in, see you in the next one!