Overview of the first demo on zkSync 2.0 testnet

Overview of the first demo on zkSync 2.0 testnet

Brothers, hello everyone!

zkSync
Website: https://zksync.io/
Twitter: https://twitter.com/zksync
Discord: https://discord.com/invite/px2aR7w

It is a scaling and privacy mechanism for Ethereum. Its current scope of features includes low-gas ETH and ERC20 token transfers on the Ethereum network, atomic swaps and limit orders, and built-in L2 NFT support. This document is a high-level description of the zkSync development ecosystem.

zkSync Partners

A lot of serious funds, top support, the team is making an important product that exchanges are interested in: Binance, byBit, lowering the cost of transaction fees will attract more liquidity to the network.

The project is promising, now I’ll show you:

1. We go to the site https://l2fees.info/ — site, displays the cost of commissions in the ETH network when using L2 technologies.

2. We see that the commission for sending ether using ZKSync is 16 times lower than the commission on the main network.

First demo on zkSync 2.0 testnet

https://testnet.switch.mute.io/ — link to the swap.

https://portal.zksync.io/ — here we connect the network.

I created a new wallet and named it zkSync testnet.

We go to the site https://testnet.switch.mute.io/, connect the wallet, there are assets of the testnet network on the account.

There are DAI, USDC, WBTC and LINK. We can use all tokens to get acquainted with the operation of the platform and the functionality of zkSync technologies.

Let’s exchange USDC for LINK.

Click Approve to confirm the transaction.

The network is test, transactions are free. This table confirms the execution of the transaction, and shows the amount that you saved using zkSync technologies.

We go to the WALLET tab, all our assets on the wallet are displayed here.

Go to the POOL tab, here you can create a liquidity pool and manage it.

Let’s create a DAI/LINK liquidity pair. Enter any number of DAI, the number of LINK will be determined automatically, send and confirm the transaction.

And again we see the table confirming the execution of the transaction, which shows the cost of the transaction.

The created liquidity pair is displayed in the Liquidity Pool table, where all the liquidity pairs that are in your wallet and created on this platform are displayed.

The liquidity provider left an annotation, which indicates the commission amount of 0.2% of all transactions for the pair in proportion to their share in the pool.

The Import Pool button allows you to add a pair that you have on your wallet to the Liquidity Pool table.

Add Liqiudity allows you to create a new and existing one. I created a DAI/USDC pair

Next section — Farming

Here we can stake ETH/DAI at 1–2% APY into the liquidity pool.

To do this, we need to create a liquidity pair EHT / DAI, you can buy ETH in the SWAP section, create a pair in the POOL section

Press max and send our liquidity to the pool.

If we go to the Harvest section, then we can track the amount of our liquidity in the pool, its value, unclaimed rewards and total rewards.

The Auction section is under construction and is not yet available.

In the end, I want to note the simplicity of the interface, and most importantly, cheaper commissions, the benefits of which you can see in the transaction confirmation table.

A very promising project with high potential.
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ДБС DAO the best!