Solana-based DEX Zeta Markets, which specializes in derivatives trading, has launched its native token and opened airdrop claims comprising 100 million ZEX.

The airdrop is designed to both reward early users and encourage long-term participation in the protocol, according to a statement.

Zeta Markets founder Tristan Frizza told The Block in April that the token’s ticker would be “Z,” but that has subsequently changed to ZEX.

The airdrop comprises 10% of the total 1 billion ZEX supply, 8% of which is reserved for Zeta traders in Phase 1. Early stakers qualify for the remaining 2% under Phase 2 of the airdrop, which will be distributed 28 days after today’s token generation event in proportion to the amount of tokens locked and the chosen staking duration. Eligible users have 90 days to …