Decentralized finance (DeFi) derivatives exchange, Zeta Markets, has recently revealed that it will be going live on the high-performance blockchain, Solana mainnet.
In a press release shared with Coinfomania, the firm noted that it is set to make its debut on the Solana mainnet on Monday, Jan. 17, at exactly 1 p.m. UTC.
The derivatives exchange offers its users several features, such as portfolio cross-margining, under-collateralized trading, sub-second mark-to-market updates, instant settlement, and many more that are typically found on some of the top centralized exchanges.
Zeta’s order book and order matching machine are powered by the Solana-based liquidity infrastructure solutions provider, Serum, with its pricing oracle based on the specialized oracle solution, Pyth Network.
Commenting on the latest development, Tristan Frizza, Core Contributor to Zeta Markets said,
“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.”
The platform provides developers in the DeFi space with the resources they need to create efficient crypto derivatives products, boosting the growth of the entire DeFi ecosystem.
It recently launched an open-source code repository dubbed Zeta FuZe, which allows anyone to integrate a Solana-based protocol into the Zeta Markets platform.
Per the announcement, Zeta has also recently secured strategic partnerships with two of the top derivatives market-makers in the industry, LedgerPrime and Pattern Research.
Partnering with these two platforms will enable Zeta to access the needed liquidity for all trades executed on its platform.
LedgerPrime’s chief investment officer, Shiliang added,
“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.”
Earlier in June, Zeta had emerged the overall best in Solana’s Season Hackathon competition, along with some other DeFi projects.
