ZKSwap Live on the Ethereum Ropsten Testnet
2020 DeFi Summer
The summer of 2020 was filled with the DeFi craze. The booming DeFi sector, spearheaded by Uniswap, scaled 10 times in the past five months, with total value locked across DeFi protocols spiking from 1 billion USD on June 1st to today’s 13.6 billion USD.
As summer turned to autumn, the DeFi frenzy has temporarily calmed down. The market started to reflect on the DeFi user experience problems that have been exposed. More product innovation is needed to address high gas fees, low throughput, long latency, and complicated UX.
ZKSwap Live on Ethereum Ropsten Testnet
Among them, ZKSwap aspires to solve most of the problems by using layer-2 solution ZK-Rollup. After months of hard work, we are glad to announce that ZKSwap, a layer-2 token swap protocol based on ZK-Rollup, is now live on the Ethereum Ropsten Testnet.
ZKSwap is a new token swap protocol based on Zk-Rollup technology. Through ZK-Rollup technology, (ERC-20) tokens are transferred to layer-2 and all transactions take place on layer-2 based on continuously generated zero-knowledge proofs to ensure state consistency between layer-1 and layer-2.
The newly launched ZKSwap will have the following advantages:
- Zero gas cost on layer-2: All token exchanges take place on Layer 2, eliminating the need for gas fees for those transactions;
- Higher throughput: the transactions per second on Ethereum is around 20; on ZKSwap, the transaction per section can reach 800~1000;
- Real-time transactions: All transactions are executed in real-time on layer-2. Users no longer need to wait for the confirmation of a block time.
Try it out NOW!
Currently, users can go to ZKSwap.app and try out most of ZKSwap’s functions on the Ethereum Ropsten Testnet, including:
Deposit, Send, and withdraw:
Token swap:
Add and remove liquidity:
View transaction history
The ZKSwap explorer (https://zkswap.info) has also been launched on the testnet.
More to Come!
ZKSwap will continue to update and launch more functionalities. After the product works smoothly on the testnet for a while, ZKSwap will also be launched on the Ethereum mainnet. Please stay tuned!
ZKSwap Official Website: https://zks.org/en
ZKSwap APP: https://zkswap.app
ZKSwap Twitter: https://twitter.com/ZKSwapOfficial
ZKSwap Github page: https://github.com/l2labs
ZKSwap Official Telegram group: https://t.me/zkswapofficial
ZKSwap Official WeChat Admin:
