DeFi

Zeta Markets Founder Tristan Frizza on Solana’s DeFi Layer 2 Plans, Perpetual Trading, and DeFi Summer 2024

Published

8 months ago

25 May, 2024

Tristan Frizza, the Founder of DeFi platform Zeta Markets, an on-chain options trading protocol on the Solana blockchain.

Last updated: May 21, 2024, 11:18 a.m. EDT | 4 minutes of reading

In an exclusive interview with CryptonewsTristan Frizza, the founder of the DeFi platform Zeta Marketsan on-chain options trading protocol on the Solana blockchain, explained how he came to rely on Solana, encouraged by a conversation with the chain’s founder.

He spoke about Solana’s congestion issues, the construction of the first Solana L2, and how it will benefit Zeta and the broader community.

A call with Yakovenko from Solana

At the start of 2021, Frizza began to rely on Ethereumwishing to create a derivatives exchange.

However, he quickly realized that this product would not be suitable for the Ethereum mainnet. The team reached out to various rollup providers, but it was still years away from launch.

Frizza decided to look at different channels, finding Solana to be “the real outlier.” As an engineer, he saw Solana as a very interesting blockchain, even though it was much smaller at the time.

Day 43 of daily publication until @ZetaMarkets $Z TGE

Zeta Markets is almost the #1 dex on criminals @solana in 24h volume. In fact, in a sea of red for the 7 day and 1 month changes, Zeta is the green candle with 39% and 128% WoW and MoM growth.

We have to thank our users who continue to… https://t.co/8lQv2jsZZg pic.twitter.com/QnHtV3X535

– 0ximran (ζ, ζ) (@imranfaststart) May 13, 2024

Interestingly, Frizza reached out to members of the Solana team, making a call with co-founder Anatoly Yakovenko himself.

Chatting with Yakovenko and learning more about his professional background further encouraged Frizza to lean on Solana.

“I tell myself, I really want to build where this guy builds,” he said. “It looks like he has a great team, and they have a great vision.”

Solana allowed them to create a scalable, fast, efficient network with lower costs.

Additionally, Yakovenko eventually became Zeta’s angel investor.

Congestion problems are a major obstacle

Founded in 2021, Zeta has seen $6 billion in trading volume and more than 6 million transactions so far, its founder said. Additionally, it has around 100,000 monthly active users.

“So there’s quite a bit of adoption and a little bit of traction there,” Frizza remarked.

The team had to scale systems “pretty aggressively” on Solana over the past six months as all these users and transaction volumes flooded in. “And it works quite well,” he added.

However, there are “obstacles” and technical difficulties.

1) Many major fixes and improvements have been deployed to @ZetaMarkets on in the last 2 days. The trading experience is already much better, which makes the engineer in me super happy 😤

TLDR;
– Faster landing (jito + swqos)
– Websocket stability + missing notifications

-Tristan (@Tristan0x) May 17, 2024

While most are minor, like fixing a bug every now and then, the most recent hurdle is Solana’s congestion issues.

This makes it “very difficult” for teams to create, especially products like Lending Protocols or NFTs.

protocol or an NFT protocol or something like that. It might not matter if your transaction doesn’t go through for a second or two. But we’re talking about leveraged criminals and stuff like that.

In crypto, prices move very quickly, and Zeta needs to be able to move quickly for its users as well.

“We’ve been able to mitigate a lot of that, which has been a good thing,” Frizza said. “But it’s really nice to have our own kind of block space, to be able to tweak the parameters a little bit more to build something that will be really competitive with, say, centralized exchanges.”

Solana L2 building: uncharted territory

Zeta Markets recently raised $5 million in a funding round led by Electric capital., with the participation of industry leaders and angel investors, such as Yakovenko.

The increase came ahead of Zeta’s Solana Layer 2 rollup and highly anticipated token launch.

2/ The tour includes the participation of @DigiAssetFund, @airtreevc & @SeliniCapital alongside leading angel investors such as @aeyakovenko, @0xMert_, @gametheorizing, @0xrwu, @y2kappa, @SimkinStepan, @AlexSmirnov__, @Genia_XBT, @TheOnlyNom, @jmrLuna & others.

Were…

— Zeta Markets | $Z is coming 🔥 (@ZetaMarkets) May 14, 2024

The main objective of this increase, Frizza told us, is to restart this development in L2.

Zeta has already built a “pretty impressive exchange.” “It works pretty well.”

But “now it takes this [and] scale it.

The team is digging deeper into the infrastructure side, which improves customization, throughput, and performance.

Additionally, L2 will allow Zeta to go from the 400 millisecond block times they have on Solana to around 10 milliseconds.

To accomplish all of this, the team had to move from building a simple smart contract to building some rails to sit on.

“And to be honest, no one has built an L2 on Solana before. It’s like a very new thing, very unexplored territory,” Frizza said.

It requires a lot of work and research, extensive engineering, and hiring a team of experts.

6/ Zeta’s L2 will maintain central limit order books (CLOB) as a first-class citizen and enable a direct bridge from Solana to tap the rapidly growing DeFi liquidity pool. It also aims to solve larger UX issues with DEXs by abstracting away gas costs and tedious transaction signing.

— Zeta Markets | $Z is coming 🔥 (@ZetaMarkets) May 14, 2024

Additionally, the team will also eliminate “a bunch of things like gas fees.”

So ultimately, Frizza said, they are working to build “something that rivals centralized exchanges” while still bringing the benefits of DeFi, including self-custody, transparency and security.

____

That’s not all.

In this interview, Frizza also discussed:

write his thesis on the generative adversarial network for image super-resolution;
how AI models have changed and improved in just a few years;
moving to Singapore with just one suitcase and getting a 50-inch screen for coding;
crypto players, leverage, futures and options;
resolve Solana’s congestion issues;
Solana’s current DeFi ecosystem outlook and outlook for DeFi summer 2024;
the future trajectory of DeFi and how Zeta Markets is positioned to influence the evolving financial landscape.

You can look the full episode of the podcast here.

__________

About Tristan Frizza

Tristan Frizza is the founder of Zeta Markets.

He completed his degree in Computer Science with emphasis on distributed systems and PoW blockchain technology.

Frizza later worked in AI research and as a data scientist in Silicon Valley, eventually writing his thesis on the generative adversarial network for image super-resolution, for which he received first-class honors .

In 2021, Team Zeta won a Solana hackathon against 13,000 participants, which catalyzed the transformation of their proof of concept into a leading decentralized exchange.

Today, Zeta has processed over $5 billion in trading volume.

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

No spam, no lies, only insights. You can unsubscribe at any time.

Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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