Zeta Markets releases DeFi L2 Zeta X streamlined white paper, mainnet planned to launch in the first quarter of next year

On May 24th, Zeta Markets, a derivatives protocol on Solana, released a simplified whitepaper for their DeFi Layer2 Zeta X. The mainnet is expected to launch in the first quarter of 2025. Zeta X aims to expand and redefine decentralized trading, matching the performance of centralized trading platforms.

According to the official announcement, settlement and consensus (DA) will be conducted on the native Solana L1. Execution will be handled by an off-chain zkVM compatible matching engine, written entirely from the ground up in Rust, making it highly scalable and fast. The Z token will serve as the native gas token for transactions on the ZX rollup and as a reward mechanism for staking holders who perform critical operations on Zeta X.