Zeta Markets, a NYC-based decentralized finance (DeFi) futures and options exchange built on Solana, completed a $8.5M strategic funding round.
The round, conducted via private token sale, was led by Jump Capital with 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.
The funds will be utilized to accelerate the development and business growth of Zeta Markets, initiate community grants to encourage composable project integrations as well as onboard key strategic and market making partners.
Zeta Markets is a decentralized platform built on Solana that facilitates liquid, non-custodial, and under-collateralized derivatives trading. It 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.
The company’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 an options market maker (OMM) which prices and quotes all options and futures on-chain and in real-time.
At launch, Zeta is set to offer a complete suite of derivatives and will launch with both options and futures for the popular cryptocurrencies. The platform will also include a list of features traditionally found on institutional-grade centralized exchanges including, but not limited to; undercollateralized trading, portfolio cross-margin, sub-second mark-to-market updates, instant settlement, as well as an orderbook and matching engine powered by Serum.