Zeta Markets unveils appchain ZX built on Solana infrastructure
ZX to offer up to 50x leverage and sub-10ms confirmations on Solana.
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Derivatives decentralized exchange Zeta Markets today announced the launch of Zeta X (ZX), a layer-2 solution aimed at transforming decentralized derivatives trading. According to the announcement, the blockchain will be launched in early 2025.
“Our goal with Zeta X is to redefine the performance standards of decentralized trading. It is Zeta Markets’ next milestone to push the boundaries of decentralized finance on Solana. By taking the inherent strengths of Solana’s Layer 1 and harnessing the power of a purpose-built L2, ZX will provide traders with an unparalleled experience in terms of speed, efficiency, and security,”, said Tristan Frizza, Founder of Zeta Markets.
ZX employs an optimistic rollup strategy on Solana, adding zero-knowledge proofs to ensure trustless on-chain settlement. By utilizing Solana’s mainnet for data availability and an off-chain matching engine, ZX is set to offer centralized exchange-like performance with the advantages of on-chain trading, including self-custody and transparency.
The litepaper highlights that ZX can process up to 10,000 transactions per second, and have sub-10 millisecond confirmations. This infrastructure enables one-click trading and up to 50x leverage.
The governance token Z will also become the native gas token for ZX transactions, incentivizing stakeholders.
Moreover, the litepaper adds development milestones for ZX, such as core architecture development in Q2 2024, a testnet launch in Q3 2024, security audits in Q4 2024, and the mainnet launch in Q1 2025, with a phased rollout and educational initiatives.
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