Introduction

Our goal with Zeta X is to create the home of leveraged trading on-chain, where choosing transparency and security doesn't mean sacrificing on performance. After an exhaustive review of the leading exchanges across the current CeFi and DeFi landscapes, we are confident that Zeta X is poised to redefine the crypto trading experience as a true category leader.

The Zeta X mainnet will feature a on-chain exchange ecosystem, integrating an atomic order book with a sophisticated derivatives risk engine. The exchange will leverage the enhanced performance and transparency of Bullet, Solana’s first high-frequency Layer 2 designed for trading. This integration ensures ultra-fast and reliable execution.

Additionally, our multi-collateral approach, yield-generating deposit capabilities, and commitment to comprehensive asset listings will ensure that using Zeta X offers unparalleled trading opportunities without compromise.

LATEST UPDATE: 29 Oct, 2024

What to Expect: From Testnet to Mainnet

Testnet Rollout: Q4 2024

Closed Beta: November 2024
Testnet Launch: Soon after Beta

Our testnet phase is a crucial step in the road to Zeta X, helping us to gather user feedback and stress-test the exchange. Here’s what participants can expect:

• Core Trading Features: Perpetuals trading, multi-collateral support, and cross-margining.

• Enhanced Risk Management: An improved risk engine and liquidation protocol to ensure safer trading conditions.

• Testnet Market Maker: To simulate trading experience.

• New-Look UI: Brand new Zeta X UI designed with our power users.

• Fast Execution: The same super-fast execution you can expect from mainnet.

Testnet will operate on the Bullet rollup initially settling to a mock data availability layer and later transitioning to the Solana L1 towards the end of the testnet period.

Mainnet Launch: Q1 2025

Mainnet will unveil a comprehensive exchange redesign, powered by Bullet. Key features available at launch include:

• Multi-Collateral Trading: Trade seamlessly using assets like SOL or BTC. Our new multi-collateral system supports using your preferred assets as collateral. This feature allows you to maintain spot exposure, earn yield, and trade without compromises.

  

  
  

• 100x Leverage: Achieve leverage comparable to top centralized exchanges such as Binance, courtesy of our enhanced Dynamic Risk Engine. This upgrade enables you to maximize trading efficiency and potential returns.

• Dynamic Risk Engine: A comprehensive redesign of our risk engine significantly improves trading safety at higher leverage levels. Key components include:

  • ZX Liquidation Engine: Introduces partial liquidations to minimize risk and ensure a fair trading experience, even during market high volatility.

  • Auto-Deleveraging: Acts as a safety net during the liquidation process, kicking in as a last resort to maintain market stability and protect the exchange's integrity.

  • Scaling Leverage:  An enhancement to the risk system where max leverage scales down as position size increases.

  

  
  

• Reliable Advanced Order Types: Zeta X’s rapid, congestion-resistant rollup infrastructure ensure take-profit and stop-loss orders are reliably executed, ensuring your fill price and giving you the confidence to trade in size.

• Transparency Portal: Provides straightforward navigation of rollup blocks and proofs on the Solana L1, enhancing transparency and eliminating questions about exchange security and fairness.

  
  

Looking Ahead: Post-Mainnet Developments

Q2 2025 Initiatives:

• Rapid Asset Framework: Swiftly introduce new tokens, pre-markets and exotics first, supported by AMM liquidity vaults and our enhanced market making infrastructure to ensure deep day 1 liquidity.

• Social Trading: Leaderboards and copy trading features allowing you to follow your favourite traders and mirror their trades.

• Passive Income Vaults: Launching in April 2025, these vaults, including perps-based basis vaults and liquidation vaults, will offer passive yield opportunities for your crypto. 

  

  
  

  Join us on this journey to reshape the future of leverage trading on-chain. Stay tuned for more updates and learn how you can gain early access to our testnet.