blockchainreporter.net
In a significant stride towards a decentralized future, Zeta Markets, known for its cutting-edge onchain trading protocol, has announced the launch of its new initiative aimed at transitioning into a community-driven protocol. This move is underscored by the platform’s impressive achievement of nearly $3 billion in cumulative trading volume and a burgeoning community of over 70,000 monthly active traders.
At the heart of Zeta Markets is the Z-Score, a unique metric designed to reward traders based on their activity. The introduction of Z-Passes has further enhanced this system, allowing traders to amplify their rewards during competitive trading seasons. This gamified approach not only fosters an engaged community but also prepares the ground for future airdrop distributions of $Z, Zeta Market’s governance token, signifying a shift towards rewarding long-term commitment.
Tristan Frizza, the visionary founder of Zeta Markets, emphasized the company’s commitment to its community. Frizza stated, “Rewarding the active traders on Zeta Markets is our biggest priority as we begin executing on our roadmap to becoming community-driven. The Z-Score system has laid the groundwork for fueling unique community activation programs, like the referral program we’ve launched today to grow the community of vibrant, engaged, and active traders who share our vision of the future.”
The launch of a referral program marks a significant step in this direction, encouraging current users to bring new traders into the fold. This initiative rewards both the referrer and the new trader, enhancing the Z-Score and, by extension, the trading experience for both parties.
Roadmap to Decentralization
The publication of Zeta Market’s ambitious roadmap reveals plans for the staking of the $Z governance token and the introduction of lending and multi-collateral support in the forthcoming Zeta Markets V3. These developments are indicative of the platform’s commitment to evolving into a fully decentralized, community-governed entity.
Founded in 2021 and leveraging the Solana blockchain, Zeta Markets has established itself as a frontrunner in seamless onchain trading experiences. The platform’s success has attracted the backing of prominent names in the investment world, including Electric Capital, Jump Capital, and Solana Ventures, among others.
This strong backing, coupled with innovative developments, positions Zeta Markets as a leading player in the rapidly evolving DeFi landscape. As Zeta Markets continues on its path to becoming a community-driven protocol, it stands as a testament to the power of innovative blockchain technology in creating more inclusive, decentralized financial ecosystems.