Zeta Markets Raises $5 Million to Drive DeFi Expansion on Solana

Zeta Markets, a decentralized exchange (DEX) for on-chain perpetuals on the Solana blockchain, has secured $5 million in strategic funding, bringing its total funding to $13.5 million. Led by Electric Capital, the funding round also saw participation from DACM, Selini Capital, Airtree Ventures, and prominent angel investors such as Anatoly Yakovenko of Solana. The primary goal of this funding is to support the development of the first DeFi Layer 2 solution on Solana, which aims to combine the performance of centralized exchanges with the security and self-custody of decentralized exchanges. The proposed rollup solution will prioritize central limit order books (CLOB) and enable seamless bridging from Solana to tap into the growing DeFi liquidity pool. Zeta Markets has experienced significant growth, with over $6 billion in total trading volume and more than 100,000 monthly active users. Tristan Frizza, the founder of Zeta Markets, expressed gratitude for the support and emphasized the platform’s aim to create a one-stop trading platform that offers the transparency of DeFi without compromising convenience and speed. Avichal Garg, co-founder and general partner of Electric Capital, commended Zeta Markets’ commitment to Solana and their focus on building decentralized solutions. In addition to the funding news, Zeta Markets also announced the forthcoming launch of its governance token, $Z, which will grant voting rights to active participants on the platform and incentivize token stakers and traders. Founded in 2021, Zeta Markets has become a leading player in the perpetuals DEX space, utilizing the Solana blockchain for fast and seamless on-chain trading. With support from notable investors, Zeta Markets is poised to drive further innovation in the DeFi sector.