ArthSwap on Astar zkEVM
Introduction
As Astar zkEVM mainnet is getting ready to launch, we plan to extend our DEX to this new frontier.
Thanks to the support of our community, we currently boast the largest TVL on Astar EVM and the entire Polkadot Ecosystem. Similarly, in zkEVM, we aim to contribute to the Astar ecosystem by providing deep liquidity and high swap efficiency.
In this article, we will explain why we are expanding to zkEVM, the added value we offer amidst other DEXs, and how this contributes to the growth of ArthSwap and Astar Network.
Executive Summary
- In short, in addition to becoming “DEX on Polkadot” through XVM and XCM as outlined in our recently announced Growth Strategy, we aim to become “Defi Hub connecting Polkadot and Ethereum” by expanding into zkEVM, that is, Ethereum Layer 2, with Astar move.
- This also delivers high value to ArthSwap holders. We also announced to make ARSW token deflationary and are progressing with preparations. A portion of the trading volume generated on zkEVM will also be allocated for buybacks.
Defi Hub connecting Polkadot and Ethereum
Polkadot and Ethereum, each with unique strengths, have led the cryptocurrency world with innovative technologies and ideas. However, these networks are currently fragmented. By releasing zkEVM, we aim to become a central hub connecting Polkadot and Ethereum.
First and foremost, we will launch on Astar zkEVM, Ethereum Layer 2. This allows us to serve Ethereum users and assets that were previously out of reach. Initially, the connection between Ethereum and Polkadot may involve bridges, but our future goal is to achieve cross-chain connectivity between zkEVM (Ethereum) and Astar EVM (Polkadot).
Next, we will connect the Astar EVM and Astar WASM through XVM. This will enable liquidity and interoperability between EVM-based and WASM-based applications.
Finally, we will use XCM to strengthen the cooperation between Astar Network and other Parachains within Polkadot.
Our goal goes beyond the role of a DEX on Astar; we aim to establish ourselves as a “DeFi Hub” connecting Polkadot and Ethereum. Through this hub, we expect to enhance asset liquidity and simplify the transfer of assets between different blockchains, opening the door to the future digital asset ecosystem for investors, developers, and users.
Shaping $ARSW into a Deflationary Token
As the initial Farming Emission set in our tokenomics concludes in 2024 January and inflation weakens (now extra farming is ongoing and we plan to allocate a bit of ARSW as farming on zkEVM), our plan involves using a portion of the trading volume to buy back & burn ARSW, thus achieving deflation. A portion of the trading volume generated on zkEVM will also be allocated for buybacks.
Some campaigns will be coming…
To boost the launch of Astar zkEVM, we are currently planning a launch campaign in collaboration with several protocols scheduled to deploy on zkEVM. Let’s all come together to make the launch exciting. Stay tuned!
