Decentralized Trading Protocol Zeta Markets Launches Incentive Program
It is now common for decentralized protocols to launch their own incentive programs to reward their most active users.
Today, we are focusing on the decentralized trading protocol Zeta Markets. As part of its season 1 launch, the protocol has implemented a points system called ‘Z-Score’ that can be earned by trading on Zeta Markets.
Find out in this guide how to be eligible for the Zeta Markets airdrop.
Key Points About the Zeta Markets Airdrop
- Project: Zeta Markets
- Difficulty: Easy
- Cost: Paid
- Duration: Starting from 1 minute
What is Zeta Markets?
Zeta Markets is a decentralized trading protocol developed on the Solana blockchain.
The protocol allows users to trade completely decentralized 7 perpetual contracts, namely SOL-PERP (Solana), BTC-PERP (Bitcoin), ETH-PERP (Ethereum), PYTH-PERP (Pyth), ARB-PERP (Arbitrum), and BNB-PERP (BNB).
The platform also allows traders to apply leverage to their positions.
Zeta Markets has a TVL (Total Value Locked) of approximately $2.4 million, ranking it 38th among protocols with the most locked funds on the Solana network.
How to be Eligible for the Zeta Markets Airdrop?
Since Zeta Markets is developed on Solana, you will need a wallet deployed on the Solana network to interact with the protocol.
You can opt for wallets such as Phantom Wallet, Solflare, or Backpack, which are among the most reputable wallets on the Solana network.
Once you have installed your Solana wallet, go to the Zeta Markets platform: https://www.zeta.markets/
Before diving into the details, here are some clarifications about the Z-Score points system launched by Zeta Markets:
- You earn 1 Z-Score for every dollar of volume (Taker: limit order) traded on the protocol.
- You receive a multiplier (up to x2) on your Z-Score if you are among the top 100 traders with the best PnL.
- You can find your ranking on this page: https://dex.zeta.markets/leaderboard
- Season 1 ends on December 20, 2023.
1 – Trade on the Zeta Markets Platform
Before you can start trading, you need to deposit USDC into your Zeta Markets account. To do this, click on your profile, then the ‘Deposit’ tab (remember to connect your wallet).
Enter the amount of USDC you wish to deposit, click ‘Deposit,’ and complete the transaction from your digital wallet.
Once your USDC is deposited, go to the ‘Trade’ section.
On this page, you will find a detailed graphical interface with various statistics about the selected perpetual contract. You will see the pair name, contract price, price fluctuations in the last 24 hours, Open Interest, and the order book.
To open a position, select the contract of your choice from those on the left side of the interface.
Next, enter the required details, such as selecting ‘Buy’ for a long position or ‘Sell’ for a short position, specifying the order type (Market or Limit), indicating the price at which you want the order to trigger (for limit orders), and specifying the trade value/quantity and account leverage.
After confirming the transaction, your order will appear in the section below the graphical interface of the contract. This is where you can view the details of your position, such as entry price, PnL, and liquidation price. You can also set a Take Profit (TP) and Stop Loss (SL) to secure profits and/or limit losses. To close your position, simply click on the ‘close’ button.
2 – Buy a Zeta Card NFT on Tensor
Another way to maximize your Z-Score is by owning one or more ‘Zeta Card’ NFTs, the native NFTs of the Zeta Markets protocol.
By exposing yourself to these NFTs, you have the advantage of having your Z-Score points doubled for 7 days when you burn them from your Zeta Markets account.
To buy a Zeta Card, it may be interesting to use the Tensor marketplace, which also offers a points system based on user activity.
After acquiring your NFT, go back to Zeta Markets, click on the ‘Z-Score’ logo, and click on ‘Activate’ to activate your boost, which will double your points for the next 7 days. Note that your NFT will be automatically burned after activating the boost.
Important Clarifications about Zeta Markets
Now that you have made your first trades on Zeta Markets, you are officially in the race.
Of course, your Z-Score points will be based on your total trading volume. If you don’t have a large portfolio, you can open/close trades repeatedly throughout the day.
You can see your position in the ranking and your Z-Score directly on this page: https://dex.zeta.markets/leaderboard
To stay up to date with important announcements, it is recommended to follow the Zeta Markets Twitter account or join their Discord server.
