TL;DR
- Groundbreaking news for DeFi! Zeta Markets, a major player in decentralized exchanges (DEXs), is building ZX. This innovative technology will be the first-ever DeFi Layer 2 solution built on Solana.
- ZX is poised to shake up decentralized derivatives trading. It boasts impressive features like processing a whopping 10,000 transactions per second, making your trades lightning fast.
- Scheduled to launch in early 2025, ZX has the potential to be a game-changer. It bridges the gap between DeFi and centralized exchanges (CEXs) by offering CEX-like speed and efficiency while retaining the core benefits of DeFi – decentralization, transparency, and user control over your assets.
Zeta Markets, a leading decentralized exchange (DEX) for perpetual contracts, has announced the upcoming launch of Zeta X (ZX), the first-ever DeFi Layer 2 solution built on Solana.
This innovative technology promises to revolutionize decentralized derivatives trading by offering performance comparable to centralized exchanges (CEXs) while maintaining the core benefits of DeFi.
1/ We’re thrilled to unveil the Litepaper for Zeta X (ZX), introducing the first-ever DeFi Layer 2 on @solana.
ZX is crafted to scale and redefine decentralized trading, matching CEX-like performance, yet on-chain.
Powered by $Z.— Zeta Markets | $Z is coming 🔥 (@ZetaMarkets) May 23, 2024
ZX: Redefining Decentralized Trading with Speed and Efficiency
ZX leverages an optimistic roll-up strategy on Solana, combined with zero-knowledge proofs, to achieve unparalleled speed and efficiency. This translates to benefits like:
- High throughput: ZX boasts the capability of processing up to 10,000 transactions per second (TPS) with sub-10 millisecond confirmations.
- One-click trading: Users can enjoy a seamless trading experience with one-click execution, eliminating the need to sign every transaction.
- Up to 50x leverage: Traders can access increased leverage opportunities for magnified returns
Security and Transparency Remain Paramount
Despite the enhanced performance, security and transparency remain central to ZX. By utilizing Solana’s mainnet for data availability, ZX ensures the immutability of trade data. Additionally, users retain full custody of their assets throughout the trading process.
Zeta Markets’s Z Token: Fueling the ZX Ecosystem
Fueled by surging monthly volumes reaching nearly $250 billion in early 2024, Solana’s DeFi ecosystem is experiencing a meteoric rise. Zeta Markets’ strategic decision to build ZX on Solana capitalizes on this booming landscape, further solidifying Solana’s position as a major player in the DeFi space.
The native governance token Z plays a crucial role in the ZX ecosystem. It will serve as the gas token for transactions on ZX, incentivizing participation, and network security. The planned token distribution includes allocations for traders, stakers, the community treasury, contributors, and investors.
A Bright Future for Decentralized Derivatives
The anticipated launch of ZX in Q1 2025 marks a significant step forward for decentralized derivatives trading. With its focus on speed, efficiency, and user experience, ZX has the potential to attract a wider audience to DeFi while maintaining the core principles of decentralization.
Zeta Markets’ position as a leader in the perp DEX space, coupled with the innovative features of ZX, suggests a bright future for on-chain trading and DeFi applications with improved scalability.
