Zeta Markets, a decentralized exchange (DEX) operating on Solana, is set to release its governance Z token today, as per a statement provided to CryptoSlate. The introduction of the token signifies the DEX's dedication to evolving into a fully community-driven protocol, offering community members the authority to impact its operations.

With the increasing popularity of the Solana ecosystem, Zeta has attracted significant attention and usage within the crypto community. The DEX disclosed that its monthly trading volumes have surpassed a record high of over $1.2 billion, facilitated by more than 71,000 monthly active users in March. Data from DeFillama indicates a record total locked asset value exceeding $21 million on the platform at the most recent reporting time.

Z token's total supply is capped at 1 billion tokens, with Zeta Markets planning to distribute 10% of these through airdrops, including 5% designated for Zeta traders and community members based on their Z-Score. Moreover, the platform intends to reserve 1% of the airdrop for other Zeta users affiliated with key communities within the Solana ecosystem, while the remaining 4% will be assigned to Z token stakers.

Upon its launch, around 30% of the token supply will be dedicated to incentivizing maker and taker trading activities, recognizing their essential role in upholding liquidity on the exchange.

Tristan Frizza, the founder of Zeta Markets, highlighted that the governance token rollout aligns with the protocol's strategic outlook. Plans encompass introducing a unique vote escrow model on Solana and integrating a staking feature that allows holders to earn extra rewards. Zeta also aims to introduce the initial layer-2 rollup on the Solana network by the end of this year.

Frizza articulated, "Empowering the community to shape the future direction of the protocol and contribute to significant decisions is crucial as we collaboratively strive to offer an unparalleled DEX experience."