The Zeta (ZEX) airdrop is generating significant buzz, with the $ZEX token poised to become a central element of the Zeta ecosystem. As one of the most established DeFi protocols on Solana, Zeta has built a strong reputation and is now preparing to launch its governance token. In this guide, we will delve into all aspects of Zeta and the $ZEX token, including eligibility, participation, and the airdrop claiming process.
Quick Take
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Zeta Markets, a prominent Solana-based DEX with a focus on perpetual futures, has announced its ongoing ZEX airdrop starting June 27 until July 25, 2024.
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The project’s native token $ZEX will serve as a governance and growth token within the Zeta ecosystem.
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Eligibility for the $ZEX airdrop is based on participation in Zeta's point program, where users accrue points.
Introduction to Zeta and $ZEX Token
Zeta is a decentralized exchange specializing in perpetual futures on the Solana blockchain. Known for its speed and user experience comparable to centralized exchanges, Zeta aims to revolutionize the DeFi landscape by providing a seamless trading platform. At the time of writing, Zeta has a total value locked (TVL) of over $17 million.
Zeta DEX TVL | Source: DefiLlama
The $ZEX token will play a crucial role in Zeta’s ecosystem, serving as a governance token and incentivizing user participation and platform growth.
All About the Zeta (ZEX) Airdrop
The $ZEX airdrop is set to distribute a portion of the total token supply to active users and contributors within the Zeta ecosystem starting June 27 till July 25, 2024 . The airdrop compaign aims to reward the community and enhance engagement, aligning with Zeta’s decentralized governance model.
Who Is Eligible for the $ZEX Airdrop?
Eligibility for the $ZEX airdrop is determined by participation in Zeta's point program across multiple seasons. The more points a user generates, the higher their $ZEX allocation will be. Points are accrued through trading volume, PnL multipliers, activities, referrals, and holding Zeta NFTs. Currently, users are in Z-Score Season 2, where both maker and taker volumes contribute to their scores.
How to Participate in the Zeta Airdrop
To participate in the Zeta airdrop, you must be active within the Zeta ecosystem and generate points through various activities. Here's a step-by-step guide to participating in the $ZEX token airdrop campaign:
Step 1: Visit the Claim Site and Check Eligibility
Go to Zeta's token claim page. Enter your Zeta address to verify eligibility.
Source: Zeta Markets Docs
Step 2: Connect Wallet and Accept Terms
Use your preferred Solana wallet, such as Phantom, to connect to the interface. Agree to the airdrop terms and conditions.
Step 3: Choose Your Claim Method
Decide between Immediate Claim or Diamond Hand Claim.
Source: Zeta Markets Docs
Step 4: Claim $ZEX Tokens
Approve the transaction and wait for the tokens to arrive in your wallet.
How to Claim Your $ZEX Allocation
What Is Diamond Hand Claim?
Source: Zeta Markets Docs
The Diamond Hand Claim is for users committed to Zeta's long-term vision. By opting for this, users can claim all their allocations in full at TGE and stake them immediately. Benefits include qualification for the Staking Airdrop and immediate participation in governance with boosted incentives.
What Is the Immediate Claim & 7-Day Bonus?
Source: Zeta Markets Docs
The Immediate Claim allows users to claim their airdrop at any time, including any unlocked portion of the 7-Day Bonus. As the bonus continues to unlock, users can claim larger allocations up to the maximum at the end of the 7-day period.
Example
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Claim Immediately at TGE: User A can claim 1000 $ZEX with no 7-Day Bonus.
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Claim After 4 Days: User A can claim 1000 $ZEX plus 571 $ZEX from the 7-Day Bonus.
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Claim After 7 Days: User A can claim the full 2000 $ZEX (1000 $ZEX allocation + 1000 $ZEX 7-Day Bonus).
What Is Zeta Staking Airdrop?
Source: Zeta Markets Docs
Staking $ZEX tokens is a key component of the Zeta ecosystem, rewarding long-term commitment and governance participation. The staking airdrop, representing 2% of the total supply, is designed to incentivize users who stake their tokens within the first epoch after the Token Generation Event (TGE), ending on July 25th at 09:59 UTC.
The staking airdrop will be allocated based on a user's average governance score, gZEX, over the epoch. The longer and more tokens a user stakes, the higher their gZEX score will be. This airdrop will occur 28 days after the TGE and will be in the form of ZEX staked as gZEX for 90 days.
Why Stake on Zeta DEX?
Staking helps establish governance mechanisms and aligns key users with the protocol by rewarding their participation with incentives. As Zeta migrates to Zeta X and transitions to its own Layer 2, governance will become increasingly important, influencing parameters like transaction fees, validator rewards, market listings, and incentive emissions.
When to Claim Zeta (ZEX) Airdrop
The staking airdrop will be distributed on July 25th, at the end of the Genesis Epoch. It will be distributed as gZEX staked for 90 days, converting to liquid ZEX over this period. A user's average gZEX is sampled daily, and those staking later in the epoch will earn a lower share of the airdrop due to lower average gZEX scores.
Zeta Airdrop Challenges and Precautions
High demand during the airdrop could lead to network congestion and delays. Users should be cautious of imitation sites and phishing scams. Always verify links and avoid responding to unsolicited messages regarding the airdrop.
Conclusion
The Zeta airdrop is a significant event in the Solana DeFi space, offering rewards to early adopters and contributors. By participating in the airdrop, users can support Zeta’s growth and engage in its decentralized governance. Stay tuned for more updates on the airdrop timeline and how to maximize your $ZEX allocation.
FAQs on Zeta Airdrop
1. How do I check if I'm eligible for the Zeta airdrop?
Visit the official Zeta airdrop claim page and enter your Zeta address to verify eligibility.
2. What issues might users face during the Zeta airdrop?
Users might experience network congestion and delays. Ensure you are following the correct steps and use only official links.
3. What should I do if I face issues while claiming my $ZEX tokens?
Follow the steps on the claim site carefully. For persistent issues, contact Zeta’s support through official channels.
4. Can I sell my $ZEX tokens immediately after claiming them?
Yes, but consider the market conditions and potential benefits of holding or staking the tokens.
5. What are the benefits of holding $ZEX tokens?
Holding $ZEX tokens allows participation in governance, potential rewards from staking, and supports the growth of the Zeta ecosystem.
