On June 25th, Zeta Markets, a derivatives protocol on Solana, said it plans to launch Layer2 Zeta X, a decentralized derivatives trading platform built for Solana, on the mainnet in Quarter 1, 2025, and released a white paper. Zeta X will use Solana's L1 for data availability and settlement, while processing execution through an off-chain zkVM-compatible matching engine. Zeta Markets' newly launched token ZEX will also serve as the native token of Zeta X.