DeFi

Zeta Markets Launches ZEX Airdrop

Published

7 months ago

28 June, 2024

Early adopters are now eligible for 8% of the token’s supply, 30% of which is intended to provide ongoing trading incentives.

Zeta Markets, a decentralized perpetual exchange built on Solana, is the latest web3 project to offer a token to early adopters.

June 27, Zeta open airdrop claims for its ZEX token. ZEX facilitates governance and staking for the project, and will also serve as the native gas token for Zeta’s upcoming layer-2 network, Zeta X.

“ZEX is the native token of Zeta Markets, which powers governance, staking and incentives on the protocol,” Zeta said. “Additionally, ZEX will serve as both the native gas token and incentive mechanism on Zeta X, Zeta’s pioneering DeFi L2 on Solana.”

Zeta is currently the 25th largest DeFi protocol on Solana with a total value locked of $17.2 million, according to DeFi Llama. The platform generated $45 million in 24-hour volume, processed 10 billion dollars in cumulative volume since its launch in 2021, and hosts 125,000 monthly active users.

For comparison, dYdX v4, a leading DeFi derivatives exchange, hosted $542 million in transactions in the last 24 hours, according to CoinMarketCap.

Zeta has allocated 10% of ZEX’s supply to the airdrop. Active Zeta traders can now claim 70% of the drawdown, with allocations determined by an internal snapshot taken on June 7.

Zeta ecosystem partners will receive 1% of ZEX’s supply, while the remaining tokens will be sent to ZEX investors as a follow-on. drop This will take place after 28 days. Airdrop claims will remain open until September 25, 2024.

“The initial airdrop is designed to reward authentic, long-term Zeta users,” the project says.

Zeta added that 30% of ZEX’s total supply is intended to provide ongoing trading incentives, with rewards distributed to users over 90 epochs lasting 28 days each.

Vote Deposit Tokenomics

Zeta claims that its token is among the first to introduce a “vote-escrow” (VE) mechanism in the Solana ecosystem.

EV stakeholders are given governance power proportional to the amount of assets staked and the length of time tokens are locked, allowing stakeholders to vote on which asset pools rewards are allocated to. This mechanism gave rise to the “Curve Wars» in 2021, where DeFi protocols competed to allocate CRV to Curve liquidity pools.

Zeta described VE-tokenomics as “an incentive for long-term engagement with exponentially greater governance and enhanced incentives for stakers.”

Zeta X Joins Solana’s L2 Ecosystem

Drop follows Zeta announcing plans to launch a Solana-based layer 2 application chain, Zeta X (ZX), on May 23.

Zeta X will feature a Solana-based system optimistic cumulation who uses proofs of zero knowledge to facilitate permissionless on-chain settlement. The platform will match orders on Layer 2 while utilizing Solana’s base layer for data availability and settlement, aiming to deliver on-chain performance comparable to centralized platforms.

The project claims that Zeta X will facilitate throughput of up to 10,000 transactions per second and transaction confirmation in less than 10 milliseconds. Zeta X will also support up to 50x leverage.

“By leveraging the inherent strengths of Solana’s Layer 1 and harnessing the power of a purpose-built L2, ZX will provide traders with an unmatched experience in terms of speed, efficiency and security,” said Tristan Frizza, Founder of Zeta Markets.

Frizza told The Defiant that while the project is currently focused on building ZX to support a revamped Zeta exchange, it will invite third-party developers to build “synergistic applications” on the network in the future.

“Our current plans are to focus on a single exchange application to prioritize liquidity and user experience,” Frizza said. “That being said, we will definitely explore ways for people to compound on top of that liquidity layer and create synergies. Applications on our L2, for example, money markets, core trading vaults, etc.

Zeta

Zeta’s Layer 2 ambitions come as the Solana ecosystem appears to be tentatively moving toward L2 adoption, despite the Solana team. to commit to achieve high-throughput scalability at its base layer.

On June 21, Light Protocol and Helius Labs sparked controversy with the deployment of the testnet of ZK Compressiona Solana-based scaling solution that appears to borrow much of its architecture from Ethereum Layer 2.

“It’s like an L2 without everything people complain about about L2s” said Anatoly Yakovenko, co-founder of Solana, in the middle of a heated debate on social networks. “It’s an L2 that doesn’t need a multisig security council, users don’t need to change channel ID, don’t need a governance token, don’t need no need for an external sequencer, Solana validators still receive all transaction fees.”

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!

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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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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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