Zeta Markets Secures $5 Million in Strategic Funding Round 🚀
Zeta Markets, a prominent decentralized exchange (DEX) for on-chain perpetuals on the Solana blockchain, has successfully raised $5 million in a strategic funding round. Led by Electric Capital, this funding round brings the total amount raised by Zeta Markets to $13.5 million. Notable investors such as DACM, Selini Capital, Airtree Ventures, and prominent angel investors from the cryptocurrency industry also participated in this round.
Summary of Key Points 📊
- Zeta Markets raises $5 million in a strategic funding round led by Electric Capital, reaching a total funding of $13.5 million.
- The funding aims to support the development of Zeta Markets’ DeFi Layer 2 (L2) on Solana, focusing on achieving centralized exchange performance while upholding decentralization and self-custody.
- Zeta Markets has witnessed substantial growth, with over $6 billion in total trading volume and more than 100,000 monthly active users.
- The company recently introduced its token whitepaper and announced the forthcoming launch of the $Z governance token.
- Founded in 2021, Zeta Markets is backed by notable investors like Electric Capital, Jump Capital, and Solana Ventures.
Overall, the $5 million raised in the recent funding round will play a pivotal role in accelerating the development of Zeta Markets’ ambitious project: the first DeFi Layer 2 (L2) on Solana. By combining the performance of a centralized exchange with the security and self-custodial nature of a decentralized exchange, Zeta Markets aims to revolutionize the DeFi landscape.
With a focus on maintaining central limit orderbooks (CLOB) as a core feature and enabling direct bridging from Solana, Zeta Markets is well-positioned to leverage the rapidly growing pool of DeFi liquidity. The increase in total trading volume to over $6 billion and the impressive user base exceeding 100,000 monthly active users reflect the platform’s significant growth and acceptance within the crypto community.
Achieving Milestones and Setting New Goals 🌟
- Zeta Markets will utilize the funds to further enhance its platform’s capabilities and scale its operations within the Solana ecosystem.
- The company aims to solidify its position as a leading DEX by offering users transparency, convenience, and speed without compromising on the core principles of decentralization.
Tristan Frizza, the Founder of Zeta Markets, expressed gratitude for the unwavering support received from Electric Capital and the new investors who have shown confidence in the company’s vision, especially during challenging market conditions. Frizza emphasized Zeta Markets’ commitment to creating the ultimate one-stop trading platform that caters to the evolving needs of crypto traders.
The successful conclusion of the funding round will enable Zeta Markets to maintain its current growth trajectory and implement a comprehensive redesign of its DEX platform. Avichal Garg, Co-founder and General Partner of Electric Capital, praised Zeta Markets for its dedication to the Solana ecosystem and resilience in navigating the volatile market conditions.
Embracing Governance and Community Participation 🤝
- Zeta Markets unveiled its token whitepaper recently, alongside plans for launching the $Z governance token.
- The $Z token will empower active participants with governance rights, allowing them to actively contribute to shaping the platform’s future direction.
- Furthermore, Zeta Markets will incentivize token stakers and traders through epoch-based rewards, aligning the interests of the trading community with the protocol’s long-term vision through vote-escrow staking tokenomics.
Hot Take: The Future is Bright for Zeta Markets! ☀️
As Zeta Markets continues to innovate and expand its offerings, the platform is poised to become a prominent player in the decentralized finance space. With solid funding, a growing user base, and a clear vision for the future, Zeta Markets is well-equipped to lead the way in revolutionizing DeFi trading experiences.
Sources:
– Zeta Markets
– Electric Capital Twitter
– Solana Twitter
– Zeta Markets Twitter Announcement
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