Today’s ZKSwap status: As of 18:00 GMT on May 14th, 2021
- TVL $460 million
- Liquidity $203 million
- Transaction 4940 (24 hrs transactions)
Many of those will start with the questions like what’s ZKSwap and why ZKSwap?
ZKSwap is a ZK-Rollup-based layer2 DEX using the AMM model. ZKSwap transfers ETH and ERC20 tokens from the Ethereum network to layer2, using ZK-Rollup to maintain the consistency between the two layers and solving the bottlenecking issues derived from the Ethereum network, such as low TPS, long latency, congested network, and high gas fees.
On ZKSwap, token swap, transfer, and adding/removing liquidity are executed on layer2 with real-time speed and no gas fees. ZKSwap carried out a 100% ZK-Rollup upgrade at 6:00 GMT on March 22, 2021. and all Layer2 data had been aggregated and packaged on-chain after the upgrade to ensure the consistency of Layer1 and Layer2 states by continuously generating zero-knowledge proofs.
Essentially, it means it’s an option for you to trade without paying high gas fees but your funds are totally secured just as on layer 1.
We also did a lot of research and testing before deciding to launch ZKSwap. Among all the layer2 solutions, we believe that ZK-Rollups is the best choice. ZK-Rollups adopts the Rollup idea to realize the scalability on layer2. At the same time, ZK-Rollups uses zero-knowledge proof technology to upload calculation proofs on Layer-2 in real-time, achieving almost the same level of security as Ethereum Layer-1. This security is the most important.
ZKRollup has a great advantage in the finality of the transaction, and the withdrawal time has been shortened by several orders of magnitude, which greatly improves usability. In addition, with the upgrade of computer hardware and the development of zero-knowledge-proof algorithms, the performance of Layer-2 can be further improved on the existing basis. Therefore, ZKRollup has reached a good balance in terms of scalability, security, availability, and performance, and is currently the most suitable two-tier solution for building DEX.
Also, ZKSwap will further develop the layer2 ecosystem, for example, support ERC721 and NFT token Swap in the future.
ZKSwap is a layer2 dex based on the ZK-Rollup technology and using the AMM model. And You can find us here🥰:
ZKSwap Official Website: https://zks.org/en
ZKSwap APP: https://zkswap.app
ZKSwap Twitter: https://twitter.com/ZKSwapOfficial
ZKSwap Official Telegram group: https://t.me/zkswapofficial
ZKSwap Discord: https://discord.gg/NfZBKNJuAX
ZKSwap Medium: https://zkswapofficial.medium.com
ZKSwap Github page: https://github.com/l2labs
ZKSwap Reddit: https://www.reddit.com/r/ZKSwap_Official