ZKSwap V2 Updates Roadmap, Featuring Unlimited Token Listing and Continuous Breakthroughs

SINGAPORE, July 8, 2021 /PRNewswire/ -- ZKSwap, ZK-Rollups based Layer 2 DEX announced an updated roadmap, featuring unlimited token listing and new journeys in Layer2 ecosystem. ZKSwap is a safe, stable and reliable DEX platform based with the AMM model. Based on ZK-Rollups, also known as zero knowledge rollups, the TPS can be increased by multiple orders of magnitude. While users enjoy a smooth transaction experience, their assets are autonomously controllable and safe.

After ZKSwap's mainnet launch in Q1 2021, the platform has begun a new journey starting with the launch of a variety of liquidity mining activities to provide long-term incentives. The platform has also launched the 100% ZK-Rollups version of all Layer1 and Layer2 transaction data on the chain to improve the security of the system. The ZKSwap operation received good market feedback during the first quarter, achieving a $122 million worth of total value locked as of July, 2021 at ZKSwap. The current liquidity is $39,729,046, with total number of accounts reaching 88,082; 1,030,352 in cumulative transactions, $11,842,782,086 in transaction; 683,891 in cumulative transfer transactions and $2,414,261,465 in swaps.

Continuation of the V1 features, any transaction on ZKSwap V2 Layer2 network can be completed quickly without consuming any gas fees, which greatly reduces user usage cost. Theoretical TPS is up to 10,000+ achieve real-time exchange without waiting. Enjoy smooth trading on the platform.

The ZKSwap platform has already announced the V2 testnet for Q2, supporting features like unlimited token listing, and giving open access to Layer2 network with ZKSwap's gas-free transfer feature and exchange services. For Q2, the dynamic configuration of Layer2 system parameters can reduce the withdrawal time from Layer2 to Layer1 significantly. The platform can also optimize the circuit branches to improve circuit efficiency. The community governance policy, which recently has been published can empower the community to properly apply gZKS governance tokens.

According to the Q3 roadmap, the team aims to jointly expand the Layer2 ecosystem with business partners by supporting ERC721 token standards, NFT token transfer and exchanges. It will also launch Layer2 payment SDK, and facilitate seamless access to wallets exchanges and payment service providers.

The deployment scheme of ZKSwap V2 on BSC, HECO and OKEx Chain after V2 mainnet launching will give exchange user an access to Layer2. ZKSwap V2 aims to empower blockchain infrastructures with capacity to expand to Layer2 based on zero-knowledge proof and to become a safe, universal, and open financial infrastructure.

Furthermore, ZKSwap aims to make continuous breakthroughs by launching Layer2 lending and stable currency exchange service; developing a general EVM model based on ZK-Rollups to realize the programmability of Layer2, a general EVM model based on ZK-Rollups by constructing a circuit on the EVM instruction set and connecting with more partners to promote the property of the Layer2 DeFi ecosystem.

About ZKSWap

ZKSwap deploys a series of smart contracts on the Ethereum blockchain to store the tokens deposited by users while recording and verifying Layer2 status updates and related proof. Those smart contracts are the key hub connecting on-chain and off-chain.

ZKSwap's zero-knowledge proof system adopts a distributed architecture and uses the latest zero-knowledge proof algorithm PLONK to generate proofs. PLONK's global trust setup only needs to be generated once, and the circuit can be greatly reused within a certain range, reducing the stacks for using zero-knowledge proofs.

The ZKSwap server can use the WebSocket to interact with the user, and monitor transactions on the Ethereum blockchain. All valid transaction requests will be put into the ZKSwap mem pool and processed by the Swap Enginee.

Users can access API&SDK to achieve fast programmatic transactions. Deploying ZKSwap V2 on BSC, HECO, and OKEx Chain after launching and give exchange user an access to L2. ZKSwap V2 aims to empower blockchain infrastructures with capacity to expand to Layer2 based on zero-knowledge proof and to become a safe, universal, and open financial infrastructure.

Users fully own their own assets, and transactions do not require authorization which protects user privacy and account security. Users can also add any token and create trading pairs on their own with a flat fee; and we will support 0 gas fee airdrops and offer a seamless trading experience with instant payment feature.

SOURCE ZKSwap