A Look Into Layer 2 DEXs - Will ZKSwap Stand Out

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Jul 27, 2021, 04:21 ET

SINGAPORE, July 27, 2021 /PRNewswire/ -- On July 26th, in celebration of the upcoming V2 mainnet launch, the ZKSwap team invites all community members to join two campaigns - 48 hr giveaway and telegram channel lucky draw offering over 3000 ZKS to lucky winners. ZKSwap is a layer2 dex based on the ZK-Rollup technology and using the AMM model with unlimited token listing feature to be launched along with V2 mainnet on July 28th, 2021.

What is Layer2

Designed to tackle scalability issues, Layer 2 solutions are secondary frameworks or protocols built atop of this base layer that can function independently while remaining anchored to the security of the main Layer 1 chain. Layer 2 solutions use various techniques to connect to the Layer 1 chains, including Optimistic Rollups, ZK-rollups and Sidechains. Each solution is implemented differently, and this has implications in terms of performance, security, and decentralization.

Apart from the above DEXs, many other DEXs like Synthetix (Optimistic Rollups), Compound (Optimistic Rollups), and Bancor (Arbitrum) are also using or planning to adopt Layer 2 solutions as AMM and liquidity mining become increasingly popular. The competition for these projects only becomes fiercer each day.

ZKSwap as the first DEX Choice

For DEX users, ZKSwap may be their first choice due to 0 fees for trading and transfers. Besides, in the V2 testnet launched on June 23, ZKSwap has brought users more exciting features, allowing users to list unlimited tokens, customize transaction fees, search a token by its contract address, hide Layer 2 assets in a small amount, read risk notification of newly-added tokens, etc.

At present, listing a token on Uniswap or Sushiswap requires users to have 50% of the total liquidity value of the token in ETH or USDT. For example, to list a token with $1 million liquidity value, users have to prepare $500,000 to ensure a good liquidity, which may be harsh terms for early projects. Compared with other ZK-Rollups-based layer 2 DEXs, ZKSwap has an easy-to-use interface for the Free Unlimited Token Listing feature. All users have to pay is the Ethereum gas fee when creating an ERC-20 token. Such a design will eventually benefit all participants in the DeFi ecosystem, attracting more projects to use Ethereum for blockchain development, token listing, airdrops, etc. Meanwhile, the whole blockchain and cryptocurrency community will grow as it becomes much easier and cheaper to launch one's dream project or token.

ZKSwap is a layer2 dex based on the ZK-Rollup technology and using the AMM model with unlimited token listing feature to be launched with V2 mainnet on July 28th, 2021.

Where to find us:

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

SOURCE ZKSwap