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.

 

Read this next

Retail FX

Investors from Cyprus and Dubai acquire ‘significant stake’ in M4Markets

Seychelles-regulated brokerage firm M4Markets firm has picked up some investment from Cyprus and Dubai based investors in a new funding round that it will be using to grow its business.

Executive Moves

UAE broker Amana elevates Amr Masry to sales director

Amr Masry has been promoted to a new senior role at Amana Capital, becoming the group’s newest Sales Director, following a successful tenure with the UAE-based FX and CFDs broker.

Executive Moves

TopFX promotes Omar Al-Janabi to head of sales and business development

Prime brokerage firm TopFX has strengthened its Middle East operations with the promotion of Omar Al-Janabi, who is taking on an expanded role as global head of sales and business development.

Retail FX

Plus500 says 2022 revenue to be ‘significantly’ ahead of analysts’ estimates

Israeli-based, but London-stock market listed Plus500 said it expects annual revenue and earnings to be ahead of analysts’ estimates even as trading levels normalised from record volumes in the first quarter.

Digital Assets

Crypto derivatives giant BitMEX launches spot market

Crypto exchange BitMEX is looking to branch out of its singular focus on crypto derivatives with a suite of new product offerings. Although derivatives are to remain at the heart of BitMEX’s business, the popular platform will add spot crypto trading as it aims to aggressively grow their user base.

Uncategorized

PrimeXM reports mixed trading volumes for April

PrimeXM has reported weaker trading volumes for April 2022, in line with other institutional and retail platforms that saw the activity of their clients dropped compared to a month earlier.

Digital Assets

DLT Finance approved by BaFin to support brokerage and custody of digital assets

DLT Finance is already partnered with big names within the digital asset space, including Kraken, Bitstamp, B2C2, and Bittrex.

Institutional FX

LUKB taps vestr to launch actively managed products, AMCs

The partnership with vestr goes to show the growing importance of digitising the active investment management space.

Digital Assets

Jewel taps Tokeny to launch stablecoin-as-a-service solution on Polygon

Jewel aims to offer a stablecoin-as-a-service solution to other digital asset and financial institutions B2B, allowing those businesses to provide cheaper, easier and near real time payments with stablecoins issued and redeemable directly at the bank level at Jewel.

<