Zeta Markets upcoming launch on Solana, a milestone for crypto derivatives

Rick Steves

“The launch of Zeta Markets on Mainnet is a major step forward not only for us, but for the crypto derivative ecosystem.”

solana

Zeta Markets has announced that it will go live on the Solana Mainnet at 9 am EST on Monday, January 17, 2022, in a milestone move for the decentralized finance (DeFi) derivatives exchange.

Offering undercollateralized trading, portfolio cross-margining, sub-second mark-to-market updates, and instant settlement – which are features usually found in centralized exchanges – Zeta Markets took the next step in crypto and went DeFi.

Solana, Serum, Pyth, LedgerPrime, Pattern Research

Zeta Markets has made an impressive list of partnerships to power its decentralized trading platform built on Solana.

The platform’s order book and matching engine are powered by Serum, a decentralized exchange and platform that provides the underlying liquidity infrastructure for protocols built on Solana, and has a pricing oracle on the Pyth Network, a next-generation oracle platform designed to provide trusted and verifiable market data to decentralized applications.

Other strategic partnerships include LedgerPrime and Pattern Research, leading derivatives market-makers in the cryptocurrency space, ensuring day one liquidity for all trades executed on the platform.

Tristan Frizza, Core Contributor to Zeta Markets, commented: “We’re excited to bring institutional-grade crypto derivatives trading to the masses. By launching on the Solana Mainnet, institutional investors now have access to traditional financial tools, like undercollateralized trading and portfolio cross-margining, in a familiar but decentralized manner. We are thankful for the support we have received from the Zeta community during our testing phase and are looking forward to working alongside them to continue building out Zeta’s offerings.”

Shiliang Tang, Chief Investment Officer of LedgerPrime, said: “The launch of Zeta Markets on Mainnet is a major step forward not only for us, but for the crypto derivative ecosystem. As the crypto trading landscape matures, investors will need sophisticated derivatives products to properly manage their portfolios and will seek out platforms that operate in a familiar manner in order to get comfortable with the concept of DeFi. Zeta’s open-source nature allows developers to leverage the platform’s native code to enhance their own projects, further facilitating development, growth and innovation on the Solana blockchain.”

FinanceFeeds webinar: Expert panel to discuss market data for multi-asset brokerages  

Zeta raised $8.5m in December to fund the launch

In early December, Zeta announced it raised $8.5 million in a strategic funding round led by Jump Capital to develop and launch its decentralized finance (DeFi) futures and options exchange.

Built on Solana, the exchange will facilitate liquid, non-custodial, and under-collateralized derivatives trading. Solana’s censorship-resistant infrastructure provides users with pricing updates, liquidations, the ability to execute trades and settle positions sub-second while paying less than $0.01 in gas fees, the venue explained.

Other investors in the private token sale include Race Capital, Electric Capital, DACM, Airtree Ventures, Amber Group, Wintermute, Sino Global Capital, Genesis Block Ventures, QCP Capital, Alameda Research, Solana Capital, MGNR, 3kVC, Orthogonal Trading, LedgerPrime, and SkyVision Capital.

Recently, the Platform launched Zeta FuZe, an open-source code repository that allows anyone to integrate a Solana-based protocol into the Zeta Markets platform, which includes code that is integral to building a DeFi Options Vault from scratch.

 

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