Review of DEFI on zkSync.
Part 1. DEX
As of 17.05.2023 to DefiLlama TVL is 111.02 million, but there is no increase in the last month.
I would like to highlight several leading DEX exchanges from the ZkSync ecosystem. The criterion for selection will be Total Value Locked in ZkSync ecosystem.
List of the best:
SyncSwap
The vision for SyncSwap would be to build a one-stop-shop DeFi hub that is totally seamless and easy to use with innovative features.
Bring user-friendly and accessible DeFi products to more people that even never heard about Ethereum — on the scaled Ethereum.
The protocol is designed to be the exchange layer and a solution to liquidity on the zkSync Era network at the protocol level.
The protocol is fully open source and composable, removing the barrier to integrating and embracing the zkSync ecosystem.
SyncSwap is a community-driven and user-centric project. We build SyncSwap with user-friendly in mind.
The mission of SyncSwap is to bring easy-to-use DeFi and the benefits of scaled Ethereum to more people and help the mass adoption of zero-knowledge technology, Ethereum, and Web3.
Total Value Locked — 40m
no token
Website — https://syncswap.xyz/
Twitter — https://twitter.com/syncswap
Discord — https://discord.gg/syncswap
Tokenomics Review
Ticker — SYNC
Total Supply — 100,000,000 SYNC
The contract of the SYNC token is NOT yet been created. Please follow the official updates and beware of scams!
The detailed tokenomics of the SYNC token is being cooked up and will be released soon.
Social rating of the project.
Score — 23 points
SyncSwap has a relatively good social rating on TwitterScore.
Conclusion: at the moment SyncSwap is the absolute leader among DEX exchanges with the main indicators. This is probably the most promising project in the zkSync ecosystem at the moment.
iZiSwap (iZUMi Finance)
iZUMi Finance is a multi-chain DeFi protocol providing One-Stop Liquidity as a Service (LaaS). Its philosophy is that every token deserves better on-chain liquidity in an efficient and lasting way. As our name “iZUMi” in Japanese signifies, our ultimate goal is to help every partner and token to enjoy on-chain liquidity like spring water, continuous and long-lasting for centuries.
Total Value Locked — 25m
Fully Dilutes Market Cap — 38,04m
Token — iZi
Website — https://izumi.finance/home
Twitter — https://twitter.com/izumi_Finance
Discord — https://discord.gg/syncswap
Token info (4 chain)
Type: iZi ERC-20 Token on Ethereum
Total supply: 2 billion iZi tokens
Ethereum Contract: 0x9ad37205d608B8b219e6a2573f922094CEc5c200 BNB Chain Contract: 0x60D01EC2D5E98Ac51C8B4cF84DfCCE98D527c747 Polygon Contract: 0x60D01EC2D5E98Ac51C8B4cF84DfCCE98D527c747 Arbitrum Contract: 0x60D01EC2D5E98Ac51C8B4cF84DfCCE98D527c747
zkSync Contract: 0x16A9494e257703797D747540f01683952547EE5b
Listed on the exchanges: KuCoin, ByBit, Uniswap, Gate, Mexc.
Social rating of the project.
Score — 12 points
Like many DEXs in the ZkSync ecosystem, iZUMI Finance does not have the best TwitterScore rating.
Conclusion: fully working DEX not only in the network ZkSync, looks reliable. The presence of the token on the world’s top CEX exchanges confirms the high level of organization.
Velocore
“Velocore is a key DeFi component of the zkSync era ecosystem, designed to reward users for providing liquidity. Built upon the strong foundation established by Solidly and Velodrome Finance, Velocore aims to foster growth and innovation within zkSync era. As part of our grand vision, we plan to expand Velocore’s capabilities by launching a lending market and supporting other builders. This strategic development will enable us to build powerful money legos on zkSync era, further enhancing the DeFi landscape”. — team Velocore.
Total Value Locked — 13,5m
Fully Dilutes Market Cap — 4,4m
Token — VC
Website: https://velocore.xyz
Twitter: https://twitter.com/velocorexyz
Discord : https://discord.io/velocore
Tokenomic
Velocore utilizes two tokens for managing its utility and governance:
$VC — ERC-20 utility token of the protocol
$veVC — ERC-721 governance token in the form of an NFT (non-fungible token)
$VC is used for rewarding liquidity providers through emissions.
$veVC is used for governance. Any $VC holder can vote-escrow their tokens and receive a $veVC (also known as veNFT) in exchange. Additional tokens can be added to the $veVC NFT at any time.
The lock period (also referred to as the vote-escrowed period, hence the ve prefix) can be up to 4 years, following the linear relationship shown below:
100 $VC locked for 4 years will become 100 $veVC
100 $VC locked for 1 year will become 25 $veVC
The longer the vesting time, the higher the voting power (voting weight) and rewards the $veVC holder receives.
The initial supply of $VC is 60M.
Trading in DEX.
Social rating of the project.
Score — 7 points
Like many DEXs in ecosystem, Velocore does not have the best TwitterScore rating.
Conclusion: This DEX is just gaining momentum. So far it is difficult to talk about its prospects. The project has interesting tokenomics, maybe community orientation can help them.
Mute
Mute, at its core, is a DeFi platform building a liquidity hub for all protocols built on zkSync. More specifically Mute’s flagship dApp, the Mute Switch, is an AMM DEX w/ limit orders, a farming platform, and Bond platform. Mute is a solution for protocols on zkSync to properly incentivize liquidity for their own use cases.
Total Value Locked — 12,7m
Fully Dilutes Market Cap — 25,4m
Token — MUTE
Website: https://mute.io/
Twitter: https://twitter.com/mute_io
Discord : https://discord.io/muteio
Tokenomics and Contracts
Max Supply 40,000,000 $MUTE
Circulating Supply 40,000,000 $MUTE — treasury balance
Listed on the exchanges: Uniswap, Bitget, Mexc
Social rating of the project.
Score — 32 points
MUTE is one of the most established projects, but it lacks something.
Conclusion: this is one of the most formed platforms. However, it lacks popularity. Good marketing can help it do that.
SpaceFi
SpaceFi is a cross-chain web3 platform on Evmos and zkSync, with DEX+NFT+Starter+Spacebase as initial product. Its ultimate vision is to connect Cosmos and Ethereum Layer2 ecosystem, exploring assets cross-chain and interoperability solutions.
Total Value Locked — 7,3m
Fully Dilutes Market Cap — ?
Token — SPACE
Website: https://spacefi.io/
Twitter: https://twitter.com/spacefi_io
Discord : https://discord.gg/WDtuwbYRXE
Tokenomic (2 chain)
SpaceFi will have an initial supply of 20M $SPACE tokens at genesis (10M on Evmos mainnet and 10M on zkSync mainnet), for airdrop, IDO, and strategic reserves. This will balance early contributor incentives and future development needs to pursue long-term benefits with the community.
The daily emission can be adjusted to match the growth of SpaceFi (current daily emission: about 150k on 2023.05.06). This will allow $SPACE to reach the Maximum Supply of 100M. When reaching, the community can also decide to increase the emission if needed.
Trading in DEX.
Social rating of the project.
Score —10 points
Like many DEXs in ecosystem, SpaceFi does not have the best TwitterScore rating.
Conclusion: at this point, the project lacks luck and marketing. Perhaps the bad joke is that they are trying to combine on their platform two different blockchain Evmos and ZkSync.
My twitter — https://twitter.com/CryptohodlDAO
My discord — Cryptohodl#4875
