4 months ago
24 ARTICLE AD
Zeta Markets to introduce Z governance token and its own layer-2 blockchain.
Decentralized exchange (DEX) for perpetual trading Zeta Markets has completed a strategic $5 million funding round, led by Electric Capital and with contributions from DACM, Selini Capital, Airtree Ventures, and several notable angel investors, including Anatoly Yakovenko of Solana.
The fresh capital will facilitate the development of Solana’s first layer-2 solution by Zeta Markets, focused on decentralized finance (DeFi). The layer-2 rollup will integrate central limit orderbooks and enable seamless bridging from Solana, leveraging the expanding DeFi liquidity pool.
Therefore, the goal is to match the efficiency of centralized exchanges while preserving the security and self-custodial features inherent to decentralized platforms.
“We are incredibly grateful for the support of Electric Capital and our new investors who doubled down on our vision despite the uncertainty of the bear market,” stated Tristan Frizza, founder of Zeta Markets. “At Zeta Markets, our aim is to craft the ultimate one-stop trading platform, where users can benefit from the transparency of DeFi without having to sacrifice convenience and speed. This fundraise helps accelerate our current momentum and deliver an order of magnitude improvement via a ground-up redesign of our DEX.”
This investment increases Zeta Markets’ total funding to $13.5 million. Moreover, Zeta Markets recently crossed $6 billion in aggregated trading volume and over 100,000 monthly active users.
“We are thrilled to see the Zeta Markets team deepen their commitment to Solana with the unveiling of their ambitious L2 roadmap. We have seen firsthand their perseverance through the bear market and their commitment to the Solana ecosystem,” said Avichal Garg, co-founder and general partner of Electric Capital. “The Zeta team’s focus on building high-quality, decentralized solutions that solve real problems for users has resulted in tremendous momentum this year. After launching, they have been 50% of the perp volume on Solana for many days. We are proud to continue to support them as they broaden their vision beyond their successful DEX.”
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
