Zeta Markets Launches ZEX Airdrop, Rewarding Early Adopters and Boosting Protocol Engagement

Zeta Markets, a Solana-based decentralized perpetuals exchange, has officially launched its native ZEX token and kicked off a significant airdrop initiative. The airdrop, comprising 100 million ZEX tokens (10% of the total supply), aims to reward early users and foster long-term engagement with the protocol.

The airdrop is structured in two phases:

• Phase 1: 8% of the total ZEX supply is reserved for Zeta traders, based on their trading activity and volume.
• Phase 2: 2% of the supply will be distributed to early stakers, with allocations determined by the duration and amount of tokens staked.

Claims for the ZEX airdrop opened on June 27, 2024, and will continue until September 25, 2024. To be eligible, users must have interacted with the Zeta Markets platform before the snapshot date.

The ZEX token will play a crucial role in the Zeta Markets ecosystem. It will serve as the governance token, allowing holders to participate in decision-making processes and shape the future direction of the platform. Additionally, ZEX will be used for staking, incentivizing users to provide liquidity and secure the network.

In the future, ZEX will also function as the native gas token and an incentive mechanism on Zeta X, Zeta's upcoming Layer 2 network on Solana. This will further enhance the utility of ZEX and contribute to the growth of the Zeta Markets ecosystem.

The launch of ZEX and the airdrop initiative mark a significant milestone for Zeta Markets. By rewarding early adopters and fostering community participation, Zeta Markets is positioning itself for continued growth and innovation in the decentralized finance (DeFi) space.

June 2024, Cryptoniteuae