DeFi
A DeFi Layer 2 on Solana
Zeta Markets unveiled Zeta X (ZX), which is the new Solana-based DeFi Layer 2 solution created for decentralized commerce. ZX seeks to provide centralized exchange (CEX) functionality, while remaining a decentralized finance that allows users to have full control over their funds, their transactions will be transparent and hack-free.
1/ We are excited to unveil the Litepaper for Zeta X (ZX), showcasing the first ever DeFi Layer 2 on @solana.
ZX is designed to evolve and redefine decentralized trading, matching CEX-like performance, but on-chain.
Powered by $Z.— Zeta Markets | $Z is coming 🔥 (@ZetaMarkets) May 23, 2024
The current business layer of the ZX application includes a zkVM-compatible off-chain matching engine implemented in Rust. With this innovation, ZX can process up to 10,000 transactions per second (TPS) with a delay of only 3-5 milliseconds, indicating that it has high performance comparable to centralized exchanges. Customers will be able to complete transactions in 1 click without having to sign each transaction.
Zeta Markets v2, considered one of the leading fully on-chain central limit order books (CLOBs) in DeFi, has successfully executed over $7 billion in trading volumes and hosts over 100,000 traders.
ZX is expected to launch on mainnet in Q1 2025, creating higher expectations for on-chain trading and DeFi applications with increased scalability.
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