Our Mainnet is now LIVE!
Today we are excited to announce the debut of our mainnet alpha on Starknet.
While we are still in the early stages of development, we have already made great strides in achieving our goals of allowing users to deposit, borrow and permissionlessly use key assets on the network, including ETH, USDC, USDT, DAI, and WBTC. For example, users may deposit ETH and borrow USDC, and use the proceeds to LP at an AMM or purchase/trade NFTs on Starknet.
One of the key features of #zkLendMainnet Alpha launch is the implementation of borrow caps on a pool level. This means that at launch, total borrowing power is limited, so users who want to get in early and borrow must act fast!
However, as liquidity on the network improves, we will be raising (and eventually lifting) these limits, providing greater flexibility and functionality for our users. This staggered approach balances user and protocol safety against the need for liquidity to become a cornerstone part of DeFi on Starknet.
For details on borrow limits, please refer to our Gitbook.
Secured by our battle-tested partners
We have partnered with some of the best and brightest in the industry to ensure the security and reliability of our protocol.
Our oracle provider, Pragma, delivers decentralised and transparent price feeds on chain. Pragma partners with the biggest market makers and the most liquid exchanges who sign and timestamp their own high-quality, robust data and send it directly on-chain. Their feeds live on Starknet mainnet and Goerli, where they are powering the next generation of ambitious protocols such as zkLend, CurveZero, FujiDAO, and more.
Meanwhile, our smart contracts have all been audited by both Nethermind and ABDK. ABDK Consulting is a leading service provider in the space of blockchain development and audit. They have contributed to numerous blockchain projects and co-authored some widely known blockchain primitives like the Poseidon hash function. The ABDK Audit Team has conducted over 40 audits of blockchain projects in Solidity, Rust, Circom, C++, JavaScript, and other languages.
Meanwhile, Nethermind has been one of the leaders within the Ethereum and Starknet ecosystem since 2017. They are a blockchain infrastructure company that provides Ethereum clients and tools for developers, businesses, and individuals. The yare known for their high-performance Ethereum client as well as key Starknet public good pieces such as the Starknet blockexplorer Voyager, Juno the full node client that supports Starknet and the Warp transpiler that bridges the gap between Solidity and Cairo. Nethermind has audited as well as formally specified our contracts.
Looking ahead, what’s next
Our short-term #1 priority is to raise the borrow limits as we monitor network performance and liquidity. We are also looking to rewrite and re-audit all of our contracts in Cairo 1.0 before Regenesis by year end.
Starknet is still in alpha, which means that the network may experience degraded performance and the network is not in its final state, but the StarkWare team has an ambitious roadmap for the 2nd half of 2023 (read more about it here), where we expect significant performance and fee upgrades to take place.
Our long-term priority is to continue to add additional features that support more assets and enable more composability. Asset parameters will be regularly reviewed to ensure maximum capital efficiency. We are also exploring new areas for growth and development — cross-chain lending, isolated markets, and other exciting features to implement in the next phase! We believe that zkLend has the potential to revolutionise the lending landscape, and we are excited to continue pushing the boundaries of what is possible in DeFi.
To kick things off, we’re launching our LP LAUNCH LOTTO. On top of the APY users get from depositing and lending, users may earn additional rewards in the $2500 prize pool! Full details in #announcements channel on our Discord here.
What are you waiting for? It’s time to welcome #zkLendMainnet Alpha!
About zkLend
zkLend is the native L2 money-market protocol built on Starknet, combining zk-rollup scalability, superior transaction speed, and cost-savings with Ethereum’s security to create a state-of-the-art decentralized, transparent, and composable lending platform. We aim to be a DeFi primitive on Starknet (and other zk L2 networks) from day one, and to offer a seamless experience and efficient lending markets for retail and institutional users alike.
