# How a zToken Launches (/market-lifecycle)



Every zToken launches in the same steps. The first comes from zETH, the activity market on Ethereum activity, run as a beta. Bright steps are live and explained in full. Grey steps are coming next and get their details when they go live.

<LaunchSteps
  steps="[
  {
    id: 'registration',
    title: 'Registration',
    body: 'Sign in to Zaps, link your wallets and mint your zScore. You need a minted zScore to win a seat.',
    live: true,
    tag: 'Opens Mon 26 Oct',
    heading: &#x22;Pick the coin's name and art&#x22;,
    details: [
      'The community chooses before the race.',
      <><strong>Suggest one:</strong> needs an X account and a minted zScore. One per X account.</>,
      <><strong>Vote for one:</strong> needs an X account. More lifetime zaps give more votes, by square root.</>,
    ],
    action: { href: 'https://app.zaps.wtf/', label: 'Open the Zaps app' },
  },
  { title: 'Race', body: 'A public leaderboard scores real onchain activity. The top of the board wins seats.' },
  { title: 'Seat window', body: 'Miners get the first hours of the auction to themselves.' },
  { title: 'Auction', body: &#x22;Everyone bids, and the auction sets the token's first price.&#x22; },
  { title: 'Locked pool', body: 'The auction money seeds a trading pool that stays locked.' },
  { title: 'Buyback', body: 'Trading fees buy the token back from the market.' },
  { title: 'Seasons', body: 'When a season ends, a new race picks new miners.' },
]"
/>