The 100 million ZEX token airdrop aims to reward early users and boost protocol engagement, per a recent statement.
The airdrop accounts for 10% of the total 1 billion ZEX tokens, with 8% reserved for Phase 1 Zeta traders.
ZEX Airdrop Details and Allocation
Early stakers qualify for the remaining 2% in Phase 2, distributed 28 days after token generation. Based on locked token amounts and staking duration. So, eligible recipients have 90 days to claim their allocated airdrop tokens.
ZEX serves multiple functions within the Zeta ecosystem, including governance, staking rewards, and incentives. It employs a vote-escrow model pioneered by Curve Finance on Ethereum. Token holders lock their ZEX tokens for a specified period to increase their voting power. This mechanism incentivizes long-term commitment and participation in the project.
Source: X
Additionally, ZEX functions as the native gas token and incentive mechanism for Zeta X, described as the “DeFi Layer 2” on Solana. Zeta X aims to deliver centralized exchange (CEX)-like performance on-chain, with its mainnet anticipated to launch in Q1-2025.
More About the ZEX token airdrop
30% of the ZEX token supply is allocated to ongoing trading incentives, distributed to Zeta traders every 28 days after each epoch. The initial “Genesis Epoch,” running until July 25th, will distribute 8 million ZEX tokens in trading rewards.
Source: X
Founded in 2021, Zeta Markets has quickly become one of Solana’s largest derivatives exchanges, boasting $16.8 million in total value locked, according to DeFiLlama data. The platform claims to have facilitated over $10 billion in cumulative trading volume, attracting more than 125,000 monthly active users.
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