Z's the Zip Zinger board that I'm passing you on
You still hoping that I pass the baton
He uses the last Z in his name as the Zip Zinger skateboard he’s on when he races past you to grab the baton (an object runners pass on to each other in a relay), which represents hip-hop passing from veterans to the new school of rappers, as he’s ready to take on the game.
Clearly this whole song is about STEEZ. And it’s not so much that he’s ready for the game, in fact while all other rappers are “running” the game, they’re only running around, while STEEZ is flying past them on his Zip Zinger, not passing the baton.
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