Derivatives trading is always a promised land for those who love risks and want to quickly increase profits. However, limitations in speed and gas fees on Ethereum have become an opportunity for many exchanges to develop on Solana. Zeta Market is also one of those projects.
Zeta Markets Overview
What is Zeta Markets?
Zeta Markets is a derivatives exchange on the Solana ecosystem. Currently the project is providing trading with tokens such as BTC, ETH, SOL, APT and ARB. With Zeta Markets, users can execute leveraged orders (Long – Short) with many different asset types.
Zeta Markets is one of the first Perp DEX platforms on the Solana ecosystem with many other projects such as Drift Protocol or Mango Markets.
Project characteristics
The project accepts USDC collateral for all trading positions. The initial Margin account creation fee is 0.02 SOL and users will be refunded upon closing their account.
Zeta Markets uses prices from two Oracels on the market, Pyth Network and Chainlink. Price data from Pyth Network will be used as primary price data. In case the price data from Pyth is too old, the project will use price data from Chainlink. If both prices from two Oracles are too old, the project will use the average of the prices.
Similar to other derivatives exchanges, when user assets reach the liquidation threshold, they will have their positions liquidated. The project allows leverage up to 20X with tokens such as BTC, ETH and SOL. 8X with APT and ARB tokens.
Development Roadmap
Update….
Coreteam
The project founder is Tristan Frizza, he graduated from the University of Sydney and spent time as an exchange student at Stanford University. After graduating, he worked as a machine learning engineer at Lumaway, researching AI at Nearmap. Then did Assosiate Data Science and Marchine Learning at Atlassian.
Investors
- December 8, 2021 the project announced that it had raised $8.5 million Strategic Round led by Jump Capital. Investment funds participating in this round include: Race Capital, Electric Capital, DACM, Airtree Ventures, Amber Group, Wintermute, Sino Global Capital, Genesis Block Ventures, QCP Capital, Alameda Research, Solana Capital, MGNR, 3kVC, Orthogonal Trading, LedgerPrime, and SkyVision Capital
Tokenomics
Currently, the project has not launched tokens. Everyone can participate in the project experience to receive Zeta Points. These can be converted into tokens later.
Exchanges
Update….
Project Information Channel
- Website: https://www.zeta.markets/
- Twitter: https://twitter.com/ZetaMarkets
- Discord:
Summary
The Solana ecosystem is making a strong comeback and promises to be an explosive ecosystem in the next uptrend period. Zeta Markets is the leading derivatives project on the Solana ecosystem, this is a huge advantage for the project to attract cash flow. People can currently use the project to receive Zeta Points, which will most likely be converted into tokens later.
