Zeta Markets (“Zeta” or “the Platform”), a cutting-edge decentralized finance (DeFi) futures and options exchange built on Solana, today announced that it completed a $8.5M strategic funding round led by Jump Capital.
The round, conducted via private token sale, had participation from 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. This raise comes off the back of Zeta Market’s grand prize win in the Solana Summer hackathon which featured over 13,000 participants worldwide.
Zeta Markets is a decentralized platform built on Solana that facilitates liquid, non-custodial, and under-collateralized derivatives trading. Zeta utilizes Solana’s censorship-resistant infrastructure to provide users with pricing updates, liquidations, the ability to execute trades and settle positions sub-second while paying less than $0.01 in gas fees.
Zeta’s natively under-collateralized nature allows traders to post a fraction of the full price of the future/option, while also performing cross-margining so that traders can account for all holdings whilst sharing profit and loss across all positions. The Platform also guarantees liquid trading across all markets thanks to a best-in-class options market maker (OMM) which prices and quotes all options and futures on-chain and in real-time.
Tristan Frizza, Core Contributor to Zeta Markets, commented on the news, “We’ve seen a Cambrian explosion in the Solana DeFi ecosystem since just the beginning of this year, with TVL accelerating over 100x to almost $15bn. The unparalleled performance of the underlying chain massively opens up the design space for innovative protocols. Zeta takes full advantage of this to bring the speed and deep liquidity of CeFi derivatives to DeFi, whilst remaining permissionless and fully…
