Bytom X ZKSwap Jointly Build Technical Ecosystem to Promote DeFi Application
We are excited to announce Bytom’s strategic partnership with ZKSwap, the layer2 exchange protocol.
Bytom and ZKSwap will lower trading fees for assets between Bytom blockchain and ETH layer2, real-time free cross-chain circulation, and have in-depth cooperation in cross-chain asset collateral & lending, liquidity mining and other fields. Bytom hopes to accelerate the integration of its own ecology and the ecology of Ethereum, and provide more services for DeFi users.
Before that, MOV SuperTx has listed the ZKS/BTM trading pair.
Bytom is a blockchain interaction protocol for diversified bit assets. Different types of assets can be run on Bytom to perform complex interactive operations. On March 10, 2020, MOV, the next-generation decentralized cross-chain Layer 2 value exchange protocol based on Bytom, was officially launched. The three major exchange protocols of MOV have been operating in a steady-state for more than a year. The current transaction volume has exceeded $1.1 billion, the number of transactions has exceeded 40 million.
The Bytom 2.0 plan was launched on March 18, 2021. Bytom is constantly improving the MOV DeFi application, and new protocols and functions are constantly being introduced. On the basis of cross-chain infrastructure, Bytom plans to interact with more blockchains to increase asset diversity.
ZKSwap is currently the first batch of Layer 2 AMM DEX with ZK-Rollups as the technical model, its overall ecological progress is relatively rapid. From the perspective of the ZK-Rollups solution, it has reached a good balance in terms of scalability, security, availability, and performance, and has good application prospects. Therefore, ZKSwap can also provide guidance by allowing other DeFi protocols to migrate to ZK-Rollups Layer 2.
ZKSwap will provide Bytom with technical support for the Layer 2 scalability expansion solution. In the future, the two parties will jointly build a Layer 2 scalability infrastructure to provide two-layer expansion solutions for more ecological projects. Currently, ZKSwap has also listed the mBTM/ZKS trading pair.
