zkLend
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zkLend

An update to our roadmap

To our community,

First of all, we want to thank all of you for your constant support and trust over the past 7 months. Since our journey began early this year, the StarkNet ecosystem has grown exponentially and we have been working tirelessly to deliver part 1 of zkLend — our permissionless lending platform which will get us one step closer to our goal of rebuilding the legacy of finance.

As of August, Artemis MVP testnet has been live on StarkNet Goerli testnet, and:

  • More than 400 wallets have been invited to partake in our closed beta
  • Over $9.5million worth of test tokens in TVL
  • Over 5 assets listed and supported by the L1-L2 StarkGate Goerli bridge

In addition, we have also launched our bounty program Moonlanding for users to provide feedback so we can make the necessary adjustments for mainnet. Our objective is to go live at around the time StarkNet goes into production and grow alongside the network as users begin to adopt zk-Rollup L2 solutions.

Recently, StarkNet has announced its plan for a regenesis — a new deployment of Cairo (Cairo 1.0) on StarkNet through a state reset, also known as FSR (‘Final State Reset’). This is expected to take place in Q4 2022 up through Q1 2023. FSR is a one-off event that will streamline StarkNet’s code base so that the network is as lean as possible when it goes out of Alpha and into production. A lot more people would soon be able to build on and use StarkNet with ease.

But what this also means is that all the contracts and accounts currently on StarkNet will need to be redeployed while assets will need to be migrated from the existing network to the new one.

Deploying on mainnet Alpha prior to FSR would mean that users would need to bridge their assets eventually to the new network, and while this is technically feasible it does reduce the user experience, not to mention increase onboarding complexity.

Even though StarkWare will provide interoperability solutions that make the process of bridging ERC-20 assets seamless, protocols will still need to be redeployed post FSR. This means that users’ assets locked in protocols will need to also need to be migrated during FSR as a result (exact mechanism on how is still TBD). Given the above considerations, we decided to launch only after FSR has been completed, estimated to be around Q1 of next year.

Adapting and working around the uncertainty around StarkNet’s FSR, we will continue product development, optimising flow and features on both Artemis and Apollo. During this time we will be working on new but important features we believe next generation of money markets should have, both in terms of the backend contracts and front end UI / UI to build the best native money market protocol out there. (More to be revealed!) As features roll out, we expect to keep our community in the loop with monthly updates.

The Artemis bug bounty program, Moonlanding, will also be extended by a month through October 31, 2022 as we look to expand our whitelist access to more users. (Don’t worry, the same bugs identified will be ranked in the order of their timestamps for fairness). If you are already a user of Artemis, provide your feedback in this form for a chance to win up to $250 USDC!

Most importantly, we plan to keep the community engaged and informed of our developments with our monthly product updates. We believe the FSR will set StarkNet, and by extension zkLend, up for long-term success. In the grand scheme of things, we are very positive about what this reset will bring to the table and even more excited to embark on this journey together with you!

About zkLend

zkLend is an L2 money-market protocol built on StarkNet, combining zk-rollup scalability, superior transaction speed, and cost-savings with Ethereum’s security. The protocol offers a dual solution: a permissioned and compliance-focused solution for institutional clients, and a permissionless service for DeFi users — all without sacrificing decentralisation.

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zkLend is an L2 money-market protocol built on StarkNet, combining zk-rollup scalability, superior transaction speed, and cost-savings with Ethereum’s security.

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zkLend

zkLend is an L2 money-market protocol built on StarkNet, combining zk-rollup scalability, superior transaction speed, and cost-savings with Ethereum’s security.