Zeta Markets, a decentralized exchange (DEX) operating on Solana, is gearing up to introduce its governance Z token today, signaling a pivotal shift towards community governance, per information shared with CryptoSlate.

The DEX underlines that the initiation of this token underscores its unwavering dedication to evolve into a fully community-centric protocol, granting its community members the authority to impact its decision-making processes.

Zeta has been attracting substantial attention and adoption from the cryptocurrency community, riding on the wave of the burgeoning Solana ecosystem's popularity. Notably, the DEX revealed that its monthly trading volumes recently hit an all-time high (ATH) exceeding $1.2 billion, facilitated by more than 71,000 monthly active users in March.

Data sourced from DeFillama indicates a notable surge in the total value of assets locked on the platform, reaching an unprecedented high surpassing $21 million at the time of reporting.

Regarding the Z token supply, Zeta Markets has set a total supply cap of 1 billion tokens. The platform intends to distribute 10% of these tokens through airdrops, with 5% earmarked for Zeta traders and community members based on their Z-Score.

Additionally, the platform disclosed that 1% of the airdrop allocation will be kept aside for other Zeta users affiliated with key communities within the Solana ecosystem, while the remaining 4% is slated for Z token stakers.

Upon its launch, roughly 30% of the token supply will be disseminated to incentivize maker and taker trading activities, recognizing their pivotal function in upholding liquidity on the exchange.

Founder of Zeta Markets, Tristan Frizza, spotlighted that the token unveiling seamlessly aligns with the protocol's overarching vision. This vision encompasses trailblazing a unique vote escrow model on Solana and integrating a staking mechanism that enables holders to garner additional rewards.

Furthermore, Zeta is strategizing to introduce the first layer-2 rollup on the Solana network before the culmination of the current calendar year.

Frizza conveyed his enthusiasm by stating, "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."