$ZEX — Zeta's docs still walk new traders into a DEX that stopped trading over a year ago I opened dex.zeta.markets before writing this, wallet disconnected. The banner reads "Trading on Zeta Markets has been halted, please withdraw funds," the trade panel is in reduce-only mode, and the market stats are empty. Zeta's own Final Epoch page confirms the wind-down: all markets except SOL/BTC/ETH/JUP halted April 9, the last four went reduce-only April 17, and all trading was disabled May 1. The Staking page's disclaimer says Zeta "ceased operating as of May 2025." The onboarding docs haven't caught up. "Getting Started on Zeta" still says "Zeta currently supports five perp trading pairs — SOL/USDC, BTC/USDC, ETH/USDC, APT/USDC and ARB/USDC" (with screenshots dated August 2023), and every docs page ends with a "Start trading now!" button pointed at the halted DEX. Asset Parameters lists a different set again (BNB, TIA, JTO, PYTH at 5–10x), and the Final Epoch settlement table lists 18 more markets — BERA, SEI, STRK, WIF, TNSR, DRIFT, PENGU... — that neither "current" page mentions. Three different market lists, none of them current. The Fee Tiers page still explains how gZEX holdings discount trading fees on an exchange that no longer executes trades. For a $ZEX holder arriving from this TokenGems page — whose FAQ still calls Zeta "the premier derivatives protocol on Solana" — the useful question isn't how to trade; it's what ZEX is now. Per the Bullet FAQ (Zeta's successor venue), Bullet is a Solana network extension that posts transactions back to Solana for settlement, currently on gated mainnet, and ZEX will migrate into Bullet tokens through a portal with a 6–12 month window once it opens. Suggestions, in order of impact: (1) a one-line status banner at the top of every docs.zeta.markets page stating the halt, linking Final Epoch and the Bullet FAQ; (2) replace "currently supports five perp trading pairs" with the actual status; (3) one "What happens to my ZEX" page covering staking unwind, gZEX, and the Bullet migration. The Staking page already carries the disclaimer — Getting Started, Asset Parameters and Fee Tiers need it too. Question: does staked ZEX (gZEX) still accrue anything after the final epoch, and will it migrate to Bullet at the same ratio as unstaked ZEX? Scope: public app + docs only; no wallet connected, no funds. Drafted with AI-assisted research.

$KMNO — Kamino's Borrow and Multiply docs disagree on what a liquidation actually costs I read Kamino's public docs to work out what a liquidation would cost on a leveraged position, and got two different answers depending on the page. The Multiply Risks page says: close factor up to **10%** of the position per transaction, and a liquidation penalty of **~0.1%** ("reduced 90% from ~1% in September 2025"). But Multiply positions are Kamino Lend positions — Multiply's own How It Works page says the position ends up "with collateral and debt recorded on Kamino Lend" — and the Borrow docs describe something very different. The Liquidations page says each round closes a maximum of **20%** of the position's debt (100% above a ~95% insolvency threshold), and the liquidator bonus is dynamic: it starts at a per-reserve minimum (2% in the worked example) and scales up to the per-reserve max (8% in the example). The Fees page and the Borrow Concepts page both repeat the 20% close factor. On a $10,000 JitoSOL/SOL position at 8x, the Multiply page tells me a first liquidation round takes ~$1,000 and costs ~$10; the Borrow page tells me it can take up to $2,000 with a 2%+ bonus ($200+). That's a 20x gap in the number I'd use to judge how close to the threshold I'm willing to run — and on the Jito Market, Liquidation LTV is 90% under eMode, so the buffer is thin to begin with. Suggestion: one canonical liquidation-parameter table (close factor, min/max bonus, insolvency close factor) per market, linked from both the Multiply and Borrow docs, stating which values apply to Multiply positions and whether the September 2025 reduction overrides the reserve-level dynamic bonus. The KRAF dashboard already shows Liquidation LTV per loan; showing the applicable penalty range there too would close the loop. Question: on a JitoSOL/SOL Multiply position, is the first liquidation round 10% or 20% of debt, and does the liquidator bonus start at ~0.1% or at the reserve minimum (e.g. 2%)? Scope: public docs only, no wallet connected, no position opened. Drafted with AI-assisted research. Sources: kamino.com/docs/products/multiply/risks · /products/multiply/how-it-works · /products/borrow/liquidations · /products/borrow/fees