High gas fees and low TPS have brought the Layer2 scaling debate on Ethereum into focus. ZKSpeed, the Layer2 scaling solution launched by the ZKSwap team, has a technical lead over other scaling solutions in the market, resulting in a better product experience.
This article will compare the similarities and differences between the ZKSwap and other scaling solutions from a technical perspective, based on the existing products in the market. Before going into details, we will briefly introduce the status of Layer2 scaling technology.
Ethereum Layer 2 is a market not to be overlooked with continuous technical innovations and various…
Regarding the questions in the headline, the answers are Yes, it is safe to reboot the Layer2 system and No, it doesn’t affect user funds’ safety.
The liquidity mining campaign launched by the ZKSwap team has been extremely popular and users are very enthusiastic about participating. Due to the excessive demand for participation, the drastic increase of Layer2 transactions has caused some minor system errors and brought some doubts.
ZKSwap team wants to address these issues openly to alleviate users concerns:
Occasional user transactions failure
On-chain transactional failure can happen when Ethernet mainnet cannot execute a transaction due to an…
There are several reasons why withdrawal to the Layer1 wallet is required to participate in ZKS Mining.
First of all, after the smart contracts have been distributed, they distribute ZKS at a linear and uniform rate per second. Once smart contracts have been enacted, the process cannot be changed or suspended. Therefore, the first phase of PoL mining would request LP token withdrawals to the Ethereum network (Layer1) before users can participate in this activity.
Secondly, we understand there were questions regarding why deploying contracts directly in Layer2 isn’t an option. The answer to that question would be: the current…
ZKSwap has completed the airdrop to liquidity providers of PancakeSwap, the leading DEX on Binance Smart Chain (BSC), and Mdex, a leading DEX on Huobi Eco-Chain & Ethereum on March 5, 2021.
This airdrop covers 48,956 addresses on Pancakeswap and 6,293 addresses on Mdex. A total of 2,762,450 ZKS were airdropped.
Users who have provided liquidity to the pools of Cake/WBNB, WBNB/BUSD, BTCB/WBNB, ETH/WBNB, USDT/BUSD on Pancakeswap will receive 50 ZKS airdrop. Users can log in to zks.app via Metamask with the same address they provided liquidity on Pancakeswap to receive 50 ZKS in the ZKSwap L2 Wallet.
Following the successful completion of the first phase of Proof-of-Staking Mining(PoS) Campaign, the Layer 2 Asset Migration Incentive Campaign was officially completed at 10:00 on March 4, 2021, Beijing time.
Great attention received from the community users from the very beginning of the campaign. During the 14-day campaign period, nearly 5,000 users made deposit to their ZKSwap Layer2 addresses and completed transfers and swaps on Layer2 to successfully participate in the campaign. Through this campaign, nearly $50 million in new assets migrated to Layer 2, and as of now, ZKSwap Layer2 assets have surpassed $200 million.
ZKSwap team has conducted a round of $1.2M worth of ZKS Airdrop, totalling about 560,000 ZKS to liquidity providers for WBTC/ETH, ETH/USDC, ETH/DAI and USDC/USDT trading pairs on Uniswap on March 3, 2021.
This airdrop is an invitation for users who have in-depth experience with Ethereum to engage with ZKSwap. The campaign covers over 10,000 Ethereum Layer2 user addresses with 50 ZKS sent to each address.
Users who are eligible for the distribution can simply login to zks.app, connect and unlock the wallet to receive the airdrop.Meanwhile, users will be free from the limitation of Ethereum TPS and block confirmation…
What Will Happen to the ZKSwap V2 version in Q2 2021
ZKSwap will officially launch the Proof-of-Liquidity mining (PoL) and Proof-of-TransFee (PoT) mining events on March 6 at 18:00 (GMT+8). The first phase of the events will last 14 days with 8 million ZKS mining rewards for PoL and 1 million ZKS for PoT, the total prize pool worth $20+ million.
ZKSwap will launch the first phase of Proof-of-Liquidity mining of 6 trading pairs, including ZKS/ETH, USDC/USDT, ZKS/USDT, ETH/WBTC, ETH/USDT, HBTC/WBTC, and for Proof-of-TransFee(PoT) mining will be USDT/USDC.
Despite our sincere attitude and belief in building the L2 ecosystem, unfortunately we have been subjected to constant slander from our peers. So much so that many misunderstandings and rumors have started to appear in the community.
Today, we state our work fact-based to dispel the cloud of doubt and set the record straight. As one of the earliest explorers in L2, I hope our peer project can give clear guidance to the community, rather than giving misinformation based on subjective malicious assumption.
1.We appreciate the contributions made by our peer project, but also hope that the community understands what…
The liquidity removed before the airdrop has been re-added at 22:00 Beijing time February 27, 2021.
ZKSwap team has re-added a total value of $10 million liquidity to Uniswap ($5 million USDT/$5 million worth of ZKS) and a total value of $14 million liquidity to ZKSwap ($7 million USDT/$7 million worth of ZKS) at a price of $2.88 USDT per ZKS.
As previously announced, the liquidity added will be removed on April 6, 2021 (3 months after the initial liquidity was added on January 6),subsequent liquidity could be added by the community through liquidity incentive programs.
In addition, taking into…