🏛️Introducing Zeno
Last updated
Last updated
Zeno is a decentralized perpetual protocol with cross-margin and multi-asset collateral support, native to the Metis chain.
Zeno offers three key products:
Leveraged Trading: Open up to 1000x leveraged positions on cryptocurrencies, FX, and commodities. Zeno is the first perpetual protocol on Metis with the following features COMBINED:
Cross-margin Collateral: Zeno offers cross-margin collateral management, which allows for the sharing of margin balances across multiple positions. With this feature, traders will be able to manage their portfolio holistically in a much more efficient and convenient manner.
Multi-asset Collateral: Zeno accepts multiple assets as traders’ collateral. Allowing users to utilize mulitple assets as collateral provides two key benefits to the users:
Users do not have to convert their holdings into specific assets to start trading
Users can effectively execute many strategies such as carry trade strategy or max long strategy (e.g., use ETH as collateral to long ETH)
Support for Multiple Trading Asset Classes: Zeno currently offers the trading of three asset classes, including cryptocurrencies, FX, and commodities to create the most comprehensive decentralized derivatives trading platform.
Other Features: Zeno offers multiple other features that optimize for the transparency of on-chain trading and superior user-experience on centralized exchange. More details here.
Market Making (ZLP): Provide liquidity to ZLP to market make for traders at Zeno. By participating in the Market Making feature, users earn 50% of protocol revenue.
We believe in the Metis ecosystem and are confident in our ability to ship products. We believe there are multiple other
Best tech in the Industry: HMX currently has the best technology for an LP-based perpetual protocol in the industry, with their flexibility to support cross-margin collateral, multi-asset collateral, and many of their robust & comprehensive LP-protection mechanisms.
Proven track record: After launching on Arbitrum, HMX accumulated over $13bn in total trading volume and counting. Their products have been battle-tested and their contracts have been audited by top audit firms/individuals, such as Foobar, WatchPug, and Cantina, instilling confidence in their codes.
Marketing & Community Support: With a large community of traders and LPs, HMX will be able to support Zeno in terms of both marketing and community building. At the same time, Users on HMX will benefit from Zeno launching
Fastest & cheapest L2: 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
Official support front Metis team: We will be working closely with the Metis team, with their full support, to ensure Zeno can thrive within the Metis ecosystem.
Grant support: Metis has already committed up to 20,000 $METIS (~$2M at current market value) in grant to support the launch of Zeno. The grant will go towards bootstrapping the activities of Zeno exchange, to help kickstart trading activities and LP deposits of Zeno exchange.
Tech support: Zeno & Metis have been and will continue to work closely together to ensure a smooth development of Zeno on Metis, with official support and oversight from the HMX team.
Marketing Support: Zeno & Metis will be working closely together in regards to marketing to help increase the awareness of Zeno, whether through public announcements, post amplifications, or community events.
Network Support: Zeno will tap into Metis’ network of support to maximize the potential of success of the protocol. This includes connection with LPs, market makers, investors, KOLs, and protocols building within the Metis ecosystem. E.g. conducting TGE on a leading launchpad and integrating with leading perp DEX aggregator on Metis.
Zeno is a decentralized perpetual protocol, native to the internet and blockchain. By using Zeno, you acknowledge that Zeno is not designed for use in every legal jurisdiction and by using it, you represent that you have investigated your personal legal situation and consulted with a legal representative in your jurisdiction, if necessary.
