Lien on zkRollup: Prototype is Now Live on Zinc Testnet!
Lien will be releasing an Ethereum Layer 2 (L2) Prototype on the Zinc testnet.
Zinc is one version of zkRollup
Using this L2 Prototype, users will be able to slice (tranche) ETH into LBT and SBT at the maturity and strike price of their choice as well as send, receive, buy, trade and settle LBT/SBT.
For those of you that want to test it out, we will be releasing a “How To” manual soon.
In the upcoming months, we will be working to bring the full Lien product offering to Ethereum Layer2.
This means blazing fast transaction speeds and near zero transaction costs.
Our near term goal is to be the first option creation and trading platform using zkRollup.
The source code and readme can be confirmed here:
https://github.com/LienFinance/lien-zinc-RD.git
Why L2 Scaling is Important
Scalability is important when trading not just options but any financial instrument.
Lien is dependent on market forces acting efficiently for the protocol to function as intended and reach optimal performance.
For these forces to play out, the operational layer needs to be able to handle high volume at high speeds.
In the current DeFi environment where transactions are happening on layer 1, economically rational actions may be hindered due to factors such as spikes in the Gas price.
If DeFi is going to become the global financial infrastructure that we imagine it to be, we have come to a stage where all DeFi projects need to seriously consider how to scale their product offering.
Why zkRollup
zkRollup has a unique characteristic as a L2 solution, not just for Ethereum, but for other chains as well.
Most other L2 solutions (like Optimistic Rollup) take the “take care of mistakes if they occur” approach in their design.
zkRollup on the other hand takes the “prevent mistakes from happening” approach.
This characteristic which ensures the integrity of each layer will become important as additional layers, sidechains and off chain solutions emerge, making the entire network increasingly complex and intertwined.
The integrity of each individual layer forms the foundation of the lego blocks that can be built on top of it.
We think that Zinc will be playing an important role in the zkRollup realm.
Zinc expands the widely known Bellman (zero-knowledge proofs library) and allows for easy L2 smart contract and zk circuit development, without sacrificing performance.
We think it is one of the most innovative development platforms that have emerged recently.
By standing on the shoulders of giants, such as Matter Labs (creators of Zinc) and Aztec (inventors of Plonk), we are confident that we can bring a functional layer 2 to users in the near future.
L2 Roadmap
It is our high priority mission to remove the friction and cost associated with using the Lien protocol by moving to L2.
This is something that we can and should deliver as soon as possible.
Users can look forward to Lien services and functions being released on L2 mainnet, one by one as they are completed.
How to Test Out L2
We’ve made it possible to test out the swapping of SBT and LBT using Zinc, which is considered to be one of the leading platforms using zkRollup.
Zinc allows storage and condition setting on zkSync, which is an L2 protocol for payments.
You could perhaps call this a smart contract.
LBT and SBT on L2 are created by slicing (tranching) Ether on zkSync.
You can then swap the LBT and SBT on L2.
The source code and readme can be confirmed here:
https://github.com/LienFinance/lien-zinc-RD.git
We will be releasing a “How To” manual soon.
Website: http://lien.finance/
Twitter (Follow and get update): https://twitter.com/lienfinance
Telegram Group: https://t.me/lien_finance
Discord: https://discord.gg/asaFbQQ
