Introducing Zeno Exchange: A Native Perpetual Protocol on Metis
Greetings Sages 🏛️,
It is with our greatest pleasure to announce the launch of Zeno, marking our first and important step towards bringing the best decentralized perpetual trading platform to the Metis Ecosystem. This article offers an exclusive first look at what Zeno will bring to Metis and the wider DeFi community — providing visibility on the upcoming exciting developments.
Introducing Zeno 🏛️
Zeno is a native Perpetual DEX on Metis, powered by the cutting-edge HMX technology. The imminent launch of a decentralized sequencer framework, the projected expansion of Total Value Locked (TVL) and user base for Metis create the perfect timing for Zeno’s debut. The strategic decision to launch Zeno now is made to harness the momentum of the ecosystem’s growth, positioning Zeno to fulfill its aspiration to be the #1 Decentralized Leveraged Trading platform on the chain.
Product Features 🖥️
Zeno leverages the technology from HMX, a leading PerpDEX on Arbitrum, and will offer three core features to its users:
Leveraged Trading:
- Cross margin
- Multi-asset collaterals
- Gasless trading & order management
- Crypto, FX, and commodities trading
- 1,000x leverage
Spot Trading:
- Swap between any assets supported by Zeno’s LP pool (BTC, ETH, stablecoins, etc.) without price impact
Market Making:
- Users can deposit assets into our market making pool to earn passive yields
Moreover, Zeno will provide top-tier user experiences with the following features:
- Gas-less trading using an intent-based architecture: Transaction fees are covered by the protocol on behalf of users, eliminating the need for a gas balance in wallets.
- One-click trading with account abstraction: Trade by entering a PIN code instead of having to go through the cumbersome process of signing each transaction individually.
- On-chart trading: Easily adjust Take Profit (TP) and Stop Loss (SL) levels directly on the chart by dragging and dropping.
Why Metis? 🌿
Metis is one of the fastest and cheapest L2 available in the market. Given the nature of a derivatives protocol, operating on a blockchain with high TPS and cheap fees will allow us to best deliver the user experience for our traders
We will be working closely with the Metis team, with their full support, to ensure Zeno can thrive in the Metis ecosystem:
- Grant support: Metis has already committed up to 20,000 $METIS (~$2M+ at the current market value) to support the launch of Zeno. The grant will be distributed to users as incentives to bootstrap the liquidity pool and help kickstart trading activities.
- Tech support: Zeno & Metis have been and will continue to work closely together to ensure a smooth development & operations.
- Marketing Support: Zeno & Metis will be working closely together in to enhance Zeno’s visibility, utilizing channels such as public announcements, post amplifications, community events, and other strategic campaigns.
- Network Support: Zeno will tap into Metis’ network to accelerate its growth. This includes connection with LPs, market makers, investors, KOLs, and other protocols building on the Metis ecosystem.
Community Participation 🧙🏻♂️
There will be ample opportunities for the community to participate in the upcoming launch of Zeno, including:
- Beta Testing: Become a Beta Tester on Zeno, provide feedback, and win some airdrop rewards
- Zealy Campaigns: Participate in our Zealy campaigns to earn campaign points and meet other community members
- Token Generation Event: Participate in the token generation event (TGE) and be the first to get your hands on Zeno’s governance token.
- Trading on Zeno: Trade on Zeno for rebates and earn emission & $METIS rewards
- Provide Liquidity: Deposit assets into Zeno’s LP pool during the LP boost program to receive a share of ZENO airdrop.
- Referral Program: Refer your friends to Zeno and receive referral bonus
If you are reading this now, you are VERY early. Specific details of each campaign and the launch event will be announced soon, so be sure to look out for the announcements.
Our Supporters 🙇🏻♂️
Metis Foundation 🌿
We express our gratitude to the Metis Foundation for their support in providing a grant and seed round investment for Zeno. The grant will be instrumental in kickstarting platform activities and facilitating rewards to our users. Brace yourselves, Sages, exciting developments are on the horizon!
HMX 🐉
By leveraging HMX technology, Zeno is allocating a portion of its governance token to the HMX, fostering alignment between the interests and success of both protocols and communities.
As HMX holders, you can anticipate exclusive airdrops of ZENO tokens and additional staking benefits. If you’re not currently holding or staking any $HMX, don’t miss out! Learn more about HMX here.
What’s Next?
Our Public Open Beta is set to launch around mid-March. Stay tuned as we release a series of articles in the coming weeks, providing detailed insights into tokenomics, Token Generation Event (TGE), launch plans, and other essential information. Be sure to follow our social channels to stay up-to-date on the latest announcements. Until next time, Sages
