Zeta Markets, a decentralized exchange within the Solana blockchain, is announcing the rollout of its new governance token, Z, alongside an airdrop campaign. Their declaration revealed that Zeta will release a billion Z tokens, earmarking 100 million—10% of the total—for the airdrop distribution.
Details of the Upcoming Z Token Airdrop
Eager to engage its users, Zeta Markets is set to allocate 50% of the airdropped tokens to its active investors and community members via a point-based system known as Z-Scores. In a strategic move, 1% of the tokens will reward members of key Solana communities, while Zeta stakers will reap the benefits of an additional 4%. Tristan Frizza, the founder of Zeta, disclosed that the Z token launch is slated for May, with claims for the airdrop opening concurrently. He also hinted that Zeta is reviewing listing proposals from prominent exchanges.
Vote-Locking Model and Token Strategy Insights
Frizza discussed the introduction of a vote-locking mechanism for Zeta, emulating Curve’s method on Ethereum. This model incentivizes token holders to lock their assets to amplify their voting influence, thus fostering long-term decision making for the ecosystem’s growth. He anticipates this will heighten voting power and token rewards for those staking over extended durations.
Points to consider
- Zeta Markets is aiming to strengthen its community and token utility through an innovative airdrop and vote-locking model.
- The launch of the Z token is set to occur in May with significant allocations directed towards community engagement and staking incentives.
- Zeta Markets is supported by influential investors and aligns with the broader goal of long-term ecosystem development.
With a mission to incentivize both developers and participants, Zeta plans to dedicate 30% of Z tokens to this cause post-launch. Foundational investors, including Electric Capital, Jump Capital, Wintermute, and Solana Ventures, collectively hold a 17.5% stake, which will vest over three years post-launch. Incorporated in 2021, Zeta Markets is positioning itself at the heart of Solana’s ever-expanding ecosystem.
