Launching an airdrop on Thursday, Zeta Markets, a Solana-based decentralised exchange (DEX) well-known for enabling on-chain perpetuals trade, distributed 100 million ZEX tokens. The 10% airdrop from the entire supply was intended as a way to thank platform regulars who have been using it for a long time.

At $0.13, ZEX coins made their market debut, little higher than expected. The airdrop’s overall worth increased to almost $30.78 million as the token’s value rapidly tripled, surpassing $0.30. But as of right moment, ZEX has settled down at about $0.25.

There will be two stages to the airdrop distribution. Early platform users were granted access to 80% of the tokens during the first phase, which concluded today. Users’ “Z scores,” a points system that tracked their specific trading volumes and other factors, were used to determine allocation. ZEX holders who invest their tokens with Zeta will receive the remaining 20% of the tokens at a later time. The fundamental component of Zeta’s trading services are perpetual contracts, which give traders perpetual speculation on cryptocurrency asset prices with no expiration date. This airdrop comes after Zeta Markets had a successful May with $3.24 billion in trading activity.