ZKSpace
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ZKSpace

First Episode of All You Want to Know about ZKSwap Is Here!

ZKSwap Community FAQ 01

As blockchain technology continues to iterate and upgrade, ZKSwap continues to improve its product and user experience and will soon launch the V2 mainnet alone with new feature like unlimited token listings. The ZKSwap team has compiled 16 frequently asked questions from the community for global users and allow more users to better use and experience the various features of ZKSwap.

Q1 Things you must know about Deposit and Withdrawal

  • L2 transaction requires at least 50 ZKS or 200 USDT in balance;
  • L2 transaction amount must not be less than 10 USDT;
  • Each increase in liquidity value must exceed 10 USDT;
  • Each removal in liquidity value must exceed 10 USDT;

Q2 Calculating PoS Reward

  • 30 day PoS reward — 4,000 ZKS
  • 90 day PoS reward — 8,000 ZKS (2x)
  • 180 day POS reward — 16,000 ZKS (4X)
  • 360 day POS reward — 32,000 ZKS(8x) + governance token gZKS

Q3 Calculating daily POS Mining Reward with the current APY (Annual Percentage Yield)

  • Your APY determines your payout. (For example, if you hold 1000 ZKS, TVL: 1896858 ZKS
  • 1000 / 1896858 = 0.00052718759 (your reward percentage)
  • ZKS Daily Mining Earnings = 0.00052718759 * 16000 = 8.44 ZKS
  • If you pledge 1000 ZKS today, you will earn 8.44 ZKS per day. The amount of ZKS reward will decrease over time as TVL increases.

Check the details here

Q4 Which is the exact address of the Ethereum contract for ZKS? What is the address of ZKS mainnet.

  • ZKSwap Platform contract address:
  • 0 x8eca806aecc86ce90da803b080ca4e3a9b8097ad
  • ZKS token contract address
  • 0 xe4815ae53b124e7263f08dcdbbb757d41ed658c6

Calculating Yield Example

Taking 180 days staking as an example. 180 day stake mining pool generates a daily reward pool of 16,000. Assuming someone wants to stake 1,000 ZKS for 180 days. The TVL would be 1896858 ZKS.

Your reward in percentage: 1000/000 / 1896858 = 0.00052718759

ZKS POS daily reward = 0.00052718759 * 16000 = 8.44 ZKS

For 1000 ZKS staking, you can linearly receive a 8.44 ZKS daily reward. However as TVL increases in time, the daily reward in amount would decrease accordingly.

Token Listing Tutorials: https://en.wiki.zks.org/tutorials/token-token-pair-listing-tutorials

Mobile App Tutorials: https://en.wiki.zks.org/tutorials/zkswap-app-beginners-guide

Q5 I input ERC 20 token address. Why did the testnet signal error in my token information?

  • ZKSwap V2 testnet only supports ETH Ropsten based ERC20 token.

Q6 How long does the token listing take to complete?

The testnet often takes 5–10 minutes to confirm the token listing but if the browser took longer to confirm, please clear the browser cache and retry the token listing steps due to occasional instability of the testnet network. Check out [http://v2.zkswap.info/] if the token exists by the contract address of the token.

Q7 I can’t post comments on the forum, why is my forum account blocked?

A:The forum system will automatically identify a part of accounts with abnormal behavior, which may affect your account. When you encounter this situation, please contact the community administrator at (https://t.me/ZKSwapOfficial) to assist in solving the problem.

Q8 How to mine to get more ZKS?

A:The current POS mechanism still rewards ZKS token. Current POL and POT have come to an end but the platform will reinitiate camapigns after V2 mainnet launch.

Q9 When will V2 mainnet launch?

ZKSwap has launched testnet on June 23rd. We will officially launch the V2 mainnt after the testnet has been running stably for a period of time. Follow ZKSWap official website zks.org and forum forum.zks.org and official telegram group to stay informed https://t.me/ZKSwapOfficial

Q10 Why is it necessary to have an account balance greater than 50 ZKS or 200 USD?

The setting is meant to prevent dust attacks on the ZKSwap network. We support 50 free swaps per day per account, beyond that a fee will be charged. For an ordinary user, 50 daily swaps/ transactions would be far enough. We want to prevent malicious swaps and behaviors.

Q11 What is the gZKS for?

Details about gZKS can be found on the official website https://zks.org/zh/blog/69, and th ZKSWap ecosystem is yet to mature. There will be more application scenarios about governance tokens in the near future.

Q12 Will V2 Network support cross-chain token and swap?

Not at the moment.

Q13 So each different chain has a different layer 2 network?

That would be the case after V2 mainnet launch but we envision to build a side chain network to enable cross chain swap.

Q14 Calculating PoG and Reward

At a random point in time, ZKSwap team can withdraw the corresponding ETH that ZKSwap has consumed from the PoG pool. The team will inject 125% of that consumed ETH amount to the ZKS reward pool. The reward will be distributed to users proportionally to their gas consumption.

Example: A consumed 1 USDT through a staking, then A will get 1.25U equivalent ZKS as reward, and A needs to withdraw the reward manually.

There is no definite release period depending on the congestion on the Ethernet network. If the reward is not issued, then it will not consume your ETH, it will be issued as soon as it has been consumed.

Q15 Why do I fail to claim AAVE and SNX withdrawals and how to solve it?

AAVE and SNX withdrawals at V1 might be out of gas. Please try not to withdraw AAVE and SNX at ZKSwap V1 version (V2 mainnet will solve this problem). ZKSwap V1 restrict the withdrawal of AAVE and SNX asset by allowing the withdrawal only to your own L1 wallet. If you are out of gas during withdrawal, you can refer to the following tutorial to get back your AAVE or SNX, please feel ensured that your assets will not be lost. Tutorial to claim failed withdrawal: https://www.dropbox.com/s/yzd3wx92zru7pto/ZKSwap-How%20to%20claim%20failed%20withdrawals.pdf?dl=0

Q16 How to distinguish whether the token is listed through the ZKSwap Team or through users after the mainnet launch?

Tokens listed to main section are “verified” assets by ZKSwap team. User initiated tokens can be listed to the Innovation Section. Users are able to see the main section tokens by default with ZKSwap verified labels.

The tokens listed by users will not be supported with icons at the moment. In the future, we may change the name and presentation . Please refer further details to the official V2 website.

Conclusion:

If you encounter any problems with ZKSwap, please feel free to contact the community administrator for assistance [ZKSwap Official Telegram Group](https://t.me/ZKSwapOfficial). The ZKSwap moderator will never send you unsolicited messages, and anyone claiming to be an official ZKSwap staff and messaging you privately is a scammer.

ZKSwap’s official community support and related services are free of charge. If someone claiming to be an official asks you to send your assets to any designated token recipient address, or asks for personal information such as passwords or verification codes, or sends you an unfamiliar link to log in or fill out, please do not comply.

Wanting to keep up with the project and get the latest information about the ZKSwap? Follow the ZKSwap official website [zks.org](https://zks.org/zh/blog) and the official forum [forum.zks.org](https://forum.zks.org/c/6-category/7-category/7) or visit the [ZKSwap Official Telegram Group](https://t.me/ZKSwapOfficial) for the latest news and to be one step ahead!

About ZKSWap

ZKSwap is a layer2 dex based on the ZK-Rollup technology and using the AMM model. And You can find us here🥰:

ZKSwap Official Website: https://zks.org/en

ZKSwap APP: https://zkswap.app

ZKSwap Forum:https://forum.zks.org

ZKSwap Twitter: https://twitter.com/ZKSwapOfficial

ZKSwap Official Telegram group: https://t.me/zkswapofficial

ZKSwap Discord: https://discord.gg/NfZBKNJuAX

ZKSwap Medium: https://zkswapofficial.medium.com

ZKSwap Github page: https://github.com/l2labs

ZKSwap Reddit: https://www.reddit.com/r/ZKSwap_Official

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ZKSpace

ZKSpace

ZKSpace (https://zks.org) is an all-in-one layer2 platform, featuring ZKSwap, ZKSea, and ZKSquare.