As we reach the halfway mark of 2024, we are proud to reflect on our achievements and excited for what's to come in the next few months.

This article aims to provide a recap of our progress thus far in 2024, whether you are a long-standing member of the Zaros community or a new participant.

The topics we’ll cover include:

• Testnet Launch

• Trading League & zPoints Boost

• Zaros Documentation

• Fundraising

• $ZRS Launch

• DAO Establishment

• Entering the Monad Ecosystem

• Partnerships

• Cointelegraph Accelerator Program

• Audits

• Zaros Academy

• Roadmap

Let’s get going!

Testnet Launch

On February 28th, we officially launched Zaros' testnet version on Arbitrum Sepolia. After months of dedicated development, it was the first opportunity for the community to experience and test our platform.

With the testnet launch, users could create their accounts and participate in the zPoints campaign.

Currently, we remain in the testnet phase, with over 6,000 users and more than 30,000 trades executed. As we move into the second half of 2024, we are preparing for the mainnet launch. Furthermore, we will be live on Monad’s testnet and mainnet upon their respective launches. Our launch on Arbitrum's Mainnet is soon to come.

Spoiler alert: We will be hosting a zPoints season on Monad!

Trading League & zPoints Boost

On May 27th, following three months of active testnet operation, we launched the Zaros Trading League Pre-Season. This milestone was the moment that the traders of our community were waiting to shine.

The competition is based on Profit and Loss (PnL), with the top traders achieving the highest PnL in the testnet securing the leading positions.

The Trading League Pre-Season has proven to be the most effective way to maximize zPoints, as top traders receive multipliers for their zPoints. Consequently, those in the top rankings earn more zPoints for each completed task.

Zaros Documentation

In the first half of this year, we released the initial version of our documentation on Gitbook.

The document includes detailed information about Zaros, such as an explanation of our architecture, what differentiates us from other protocols, how the Perpetuals DEX and LP module work, tokenomics, the zPoints system, tutorials, and additional resources to help you understand and navigate Zaros.

It's important to note that as the market and Zaros evolve, we will continuously update the documentation to reflect the latest developments.

Fundraising

In the first half of 2024, we successfully raised $1.8 million from prominent investors who share our vision of creating a next-generation perpetual futures decentralized exchange, powered by boosted (Re)Staking vaults on Arbitrum and Monad.

Our investors include notable names such as SNZ Holding, Seven Capital, Cogitent Ventures, Dutch Crypto Investors, Rocky Holding, Honey Island Capital, Anthony Sassano, Alex Kruger, Fernando Martinelli, Kieran Warwick, Andy Chen Fang, and Kevin Lu.

In May, we shared a detailed thread on Twitter/X covering each of our investors’ backgrounds, which you can access here.

Additionally, Cointelegraph covered our fundraising in a press release, which you can read here.

ZRS Launch

One of the most exciting milestones in H1 2024 was the launch of our token, $ZRS, on May 29th.

We initially launched $ZRS through Fjord Foundry’s Liquidity Bootstrapping Pool (LBP) system, allowing the community to purchase $ZRS on the platform. During the LBP, we successfully raised $526,180.

Following the LBP period, $ZRS was listed on Balancer, which currently provides the deepest liquidity, and on MEXC, for CEX users.

Our approach differed from that of many projects in the space; we decided to launch $ZRS while still in the testnet phase. This decision resulted in a token with a lower Fully Diluted Valuation (FDV) and greater transparency for the community, who can farm zPoints with full knowledge of the token details.

Despite being in the testnet phase, $ZRS already has utility within the Zaros ecosystem. Currently, $ZRS holders can vote on proposals within the Zaros DAO and earn additional zPoints by holding or providing liquidity to the $ZRS-ETH pool on Balancer. Once the mainnet launches, $ZRS holders will receive 15% of the trading fees generated on the perpetuals DEX.

As of July 23, 2024, here are some key metrics for the $ZRS token:

• Holders: 235

• Volume (Balancer): $576,340

• Liquidity (Balancer): $231,127

For more information about $ZRS, please refer to our documentation. To learn more about how to farm the $ZRS airdrop, check out this article.

DAO Establishment

In June, we initiated applications for the community to join the Zaros DAO Council, marking a significant milestone in the decentralization of the protocol. We received numerous applications, including submissions from Venture Capital Analysts, DAO members from other DeFi protocols, experts from leading smart contract auditing firms, members of investment DAOs, early investors in Zaros, and many dedicated community members.

We conducted a transparent voting process to select the five members of the first Zaros DAO Council. These council members will execute community-voted decisions over the next six months, serving as the executive arm of the organization.

For more information about the background of each council member, please refer to the thread we posted.

Entering the Monad Ecosystem

One of the most exciting developments this semester was our decision to expand Zaros to the Monad blockchain. While Monad is not yet live, we are committed to launching on day one of both its testnet and mainnet.

Monad is a parallelized-EVM blockchain that has raised $244 million across funding rounds and has one of the most engaging communities in the crypto industry. We are thrilled to bring Zaros to Monad, combining the benefits of boosted (Re)Staking vaults with Monad's high scalability through parallelization.

We have also updated our branding to align with the “Monad Vibe,” which you can see reflected on our website and Twitter/X account.

As mentioned earlier, we will be hosting a zPoints season on Monad once it goes live!

We deeply appreciate the support of the Monad community. Many community members have actively participated in discussions about the protocol, providing valuable insights. We have also joined a Twitter Spaces session with the Monad team and the Monadians, our partners, and one of the most exciting NFT projects in the Monad ecosystem.

Partnerships

Throughout H1 2024, we established several strategic partnerships with high-quality projects and companies in the crypto industry, including:

• EtherFi: Liquid Restaking Protocol

• YieldNest: Liquid Restaking Protocol

• Monadians: Exclusive PFP NFT collection on Monad

• Cointelegraph: Participation in Cointelegraph's Accelerator Program

• Dinero (Formerly Redacted Cartel): The yield baseplate of Ethereum.

• Cyfrin CodeHawks: Auditing Protocol. We launched a $60,000 auditing contest in partnership with CodeHawks to help secure our perps engine. (Live until July 31st)

Additionally, our co-founder, Gui Bettanin, attended ETH Denver and had a stand at the Chainlink booth. Chainlink is a long-standing partner, and we are proud to be part of the Chainlink BUILD program!

Cointelegraph Accelerator Program

A significant achievement for us was participating in Cointelegraph’s Accelerator Program. Zaros is the first EVM-compatible perpetuals DEX to join the program.

Cointelegraph brings tremendous value by boosting our media presence, providing mentorship from marketing experts, and granting access to a network of experienced builders.

Here are some articles Cointelegraph has published about us:

• Solving perpetual futures liquidity issues with LRTs: Zaros joins Cointelegraph Accelerator

• This perpetual DEX aims to provide a trading experience that matches CEXs

• Zaros Launches $ZRS Token, Leveraging Liquid Staking Tokens (LSTs)

• Zaros paves the way for efficient perpetual futures trading: X Spaces recap

We also participated in a Twitter Spaces session with the Cointelegraph team. You can listen to it here.

Audits

One of our top priorities is ensuring the security of the platform. That's why we've heavily invested in auditing sessions this semester.

Completed Audits

• $ZRS Token Audit

  • Auditor: Shieldify

  • Full Report: View Here

• Perps Trading Engine Audit

  • Auditor: Cyfrin

  • Full Report: View Here

Ongoing Security Initiatives

To further secure our perps engine, we've launched a $60,000 auditing contest in partnership with Cyfrin CodeHawks. Anyone can participate in the contest to help secure Zaros. The contest will run until July 31st.

Zaros Academy

Throughout the semester, our team published several articles and two FREE e-books to help the community gain a deeper understanding of the industry. We covered a wide range of topics, from the (Re)Staking narrative and perpetual futures to insights about Zaros.

• A Match Made in Heaven: How can Derivatives and LSTs/LRTs Boost Each Other?

• Zaros: Money Legos at its finest!

• A Deep Dive into the LRT Landscape: Risks, Depegs and Potential Growth

• What Makes $ZRS Unique?

• The Zaros Complete Guide to Liquid Restaking

• The Zaros Complete Guide to Perpetual Futures Trading

Subscribe to our Mirror to receive new articles directly in your inbox as soon as we post them!

Community & KOL Posts

It's not just us; the community has been working hard to put Zaros on the map. Various KOLs have shown their support, and the Asian community has proven to be one of our main driving forces.

Shoutout to everyone who’s spreading the word.

Roadmap

We have reviewed our key accomplishments for the semester, but we also have exciting plans for the rest of the year. Here's a summary of what's coming:

• zPoints Season 1 + Partnerships

• Zaros Mainnet Launch on Arbitrum

• Zaros Launch on Monad Testnet

• Zaros Launch on Monad Mainnet

• zPoints Season 2 + Partnerships

Make sure to follow us on X and join our Discord to keep up with everything happening around Zaros.

Final Notes

The first half of 2024 has been a period of significant progress and exciting milestones for Zaros. From the launch of our testnet on Arbitrum Sepolia to the start of the Zaros Trading League Pre-Season, we've seen tremendous engagement and growth within our community. Our successful fundraising of $1.8M and the strategic launch of the $ZRS token have positioned us well for future development and community involvement.

The establishment of the Zaros DAO and our entry into the Monad ecosystem mark our commitment to decentralization and innovation. With a series of strategic partnerships and active participation in industry events, we are poised for even greater achievements in the coming months.

As we look forward to the mainnet launch and continued growth, we remain dedicated to transparency, community engagement, and building a robust decentralized exchange. Thank you for your ongoing support and participation in the Zaros journey.

About Zaros

Zaros is the first LRTFi perpetuals DEX powered by a CEX-like UX coming to Arbitrum & Monad. It enables boosting ETH staking & restaking yield by delegating liquidity to the protocol's ZLP Vaults, while traders on the other side may leverage up to 100x across crypto, FX, and commodities perpetuals.

The recent funding round saw participation from prominent venture funds, including SNZ Holdings, Seven Capital, Cogitent Ventures, and DCI Capital. Angel investors such as Antony Sassano, Fernando Martinelli, Kieran Warwick, Andy Chen, and Kevin Lu also contributed, underscoring the strong confidence in Zaros' potential.