Zeta Markets, a decentralized exchange (DEX) built on Solana, is set to unveil its governance Z token today, as per a statement shared with CryptoSlate.

The DEX emphasized that the token's launch reflects its commitment to becoming a fully community-centric protocol, empowering its community members to influence its decisions.

Zeta has garnered significant interest and adoption from the crypto community due to the growing popularity of the Solana ecosystem. The DEX reported that its monthly trading volumes reached a new all-time high (ATH) of over $1.2 billion, traded by more than 71,000 monthly active users in March.

Data from DeFillama indicates that the total value of assets locked on the platform has surged to a new high of over $21 million as of press time.

Z token supply

The Z token has a total supply capped at 1 billion. Zeta Markets intends to distribute 10% of the tokens through airdrops, with 5% allocated for Zeta traders and community members based on their Z-Score.

The platform disclosed that 1% of the airdrop will be set aside for other Zeta users associated with strategic communities within the Solana ecosystem. Meanwhile, the remaining 4% will be designated for Z stakers.

Upon launch, approximately 30% of the token supply will be distributed to incentivize maker and taker trading activities, recognizing their crucial role in maintaining liquidity on the exchange.

Zeta roadmap

Tristan Frizza, the founder of Zeta Markets, highlighted that the token launch aligns with the protocol's long-term vision. This vision encompasses pioneering a novel vote escrow model on Solana and integrating a staking mechanism enabling holders to earn additional rewards.

Furthermore, Zeta plans to introduce the first layer-2 rollup on the Solana network before the end of this year.

Frizza expressed:

"With a platform that has already demonstrated its reliability and facilitated billions in volume for tens of thousands of traders, we're thrilled to introduce $Z, the governance token of Zeta, to closely align the long-term interests of users with the protocol. This will empower the community to shape the future trajectory of the protocol and contribute to important decisions as we collectively strive to deliver the ultimate DEX experience."