> For the complete documentation index, see [llms.txt](https://docs.zeta.markets/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.zeta.markets/rewards-programs/usdzex.md).

# $ZEX

$ZEX is the token issued by [Zeta Foundation](https://zeta-foundation.gitbook.io/zeta-foundation) is used on the Zeta Markets protocol, driving protocol growth and participation. As of May 2025 ZEX and the Zeta Markets Protocol has been discontinued. The circulating supply of ZEX will be migrated into BULLET. Visit these [FAQs](https://docs.bullet.xyz/faqs) for further details.\
\
Learn more about the Bullet token [here](https://docs.bullet.xyz/tokenomics/bullet-token).<br>


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