Protocol at the beginning of the week Dymension has announced a massive drop in DeFi users. One more drop at the beginning of 2024, a year that many observers already consider fruitful. Let’s take a look together at how to position yourself for a potential Zeta Markets protocol landing on Solana.
Zeta Markets: a decentralized marketplace
Zeta Markets, a decentralized trading protocol on the Solana blockchain. With a TVL of around $13 million, the Zeta is the 3rd Largest Solana Derivatives Markets Protocol.
Zeta Markets is indeed a a protocol specialized in leveraged perpetual markets. As a reminder, this is a type of market where traders can go LONG (betting that the price will go up) or SHORT (betting that the price will go down) on the asset. In addition, they have the ability to increase their position size using leverage.
There was a protocol last October notification launch z-scoreAND incentive program focused on rewarding active users. So, positions taken on the platform allow you to generate points.
“More specifically, every dollar of taker volume increases your Z-score by 1. So trade a lot, trade often, and trade well. The higher your Z score, the better the rewards 🪂”
Although season 1 of this program ended on December 31, we are at perfect time to line up for season 2 and utilize the potential of the Zeta Airdrop.
Step 1: Set up your Solana wallet
To interact with Zeta Markets you need a Salty wallet. You can opt for popular options like Phantom wallet. After installing the Solana wallet and sending SOL to it, go to the Zeta Markets platform: https://dex.zeta.markets.
Step 2: Deposit USDC
Before you start trading, you must deposit USDC into your Zeta Markets account. This is a crucial step to ensure you have the necessary funds to trade. Like many platforms of this type, you need to create a specific account to trade on Zeta, so you need to fund that account.
If you don’t have USDC, exchange SOL for USDC on Jupiter.
Step 3: Trade on Zeta Markets
Once you have deposited your USDC, go to “Trading” section.. Here you can choose the contract of your choice and fill in the necessary information to open a long or short position. In this tutorial, we will be going LONG on the BTC-PERP contract.
Make sure define adequate leverage to avoid liquidations. Also set stop loss and take profits to secure your position.
Optional Step: Buy an NFT Zeta card on Tensor
To maximize your Z-Score, consider buying a “Zeta Card”native NFT by Zeta Markets.
Owning a Zeta card doubles your Z score for 7 days when you destroy it from your Zeta Markets account.
More tips for Zeta Airdrop
Yours The Z-score is based on your total trading volume. If you don’t have a big wallet, you can still earn points opening and closing stores several times a week.
However, remember that the crypto world is not without its dangers, and while the Zeta airdrop is an exciting opportunity, it is essential to practice safe trading.
Always monitor your positions, set Take Profit and Stop Loss and never invest more than you can afford to lose.
If you want to go further, feel free to check out our guide to airdrop MarginFi, a lending protocol that is also deployed on the Solana blockchain.