Reddit Posts
DeFi The Odds: 3 Bitcoin Alternatives For Steady ROI In 2023
Focus on Ethereum upgrades in the second half of the year
DeFi The Odds: 3 Bitcoin Alternatives For Steady ROI In 2023.
Beyond the hype, Layer-2 scaling solutions are here to scale computation and drive innovation.
Overview of Current Ethereum Rollup Solutions
ZKS Swap a new Defi coin just released 3 days back. With a very limited supply and a decentralised exchange I think it can go up.
Mentions
tldr; OKX is delisting several spot trading pairs to maintain a robust trading environment, following their Token Delisting/Hiding Guideline. Affected pairs include FSN, ZKS, CAPO, CVP, XMR, DASH, ZEC, and ZEN. Deposits for these tokens have been suspended since December 27, 2023, and withdrawals will be suspended starting March 5, 2024. Users are advised to manage their assets and cancel orders before delisting, as the system will automatically cancel them within 1-3 working days. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Goals: get all the tier 1 airdrops: ZRO, STRK, Scroll, Linea, Base, ZKS
If ur farming with multiple wallets it’s very important to use different RPCs on top of using vpns. You don’t want to be labeled as sybil and be disqualified that way. I use 2 wallets, one I do large transactions with, simply for volume and different smart contract interactions. And the other I have all my farming tasks automated, smaller transactions, spread amongst most of the zkSync protocols. I was genuinely curious to see which method was more profitable. For tracking, use https://byfishh.github.io/zk-flow/ No wallet connection necessary, just enter your wallet address. Shows where you are at in volume, how many interactions you’ve had, which protocols you’ve used and how much you’ve spent on tx fees. https://zkcodex.com is pretty good as well. Shows you where you rank, whether you could be labeled as sybil and for $2 you can run a simulation of how many $ZKS tokens you could receive based on Arbitrum’s airdrop specifications. If you’re bridging, make sure you’re using the native zkSync Era Bridge as well as 3rd parties like Orbiter.finance. But it’s important to do more than just bridge. Do swaps with syncswap, provide liquidity on Maverick, mint some cheap NFTs and get your zkSync Name Service ID.
ETH network on MetaMask mainnet is what ?! ER20, optimism, ARBI or ZKS?!
looks like the coin for zksync will be tagged as ZKS from several leaks and Binance reserved/future listing
Yeh its def possible Polygon does one but I don't think it's anywhere near as sure a thing as ZKS, SN, LINEA, L0 etc. There was a quote recently from either the founder saying something about no rules regarding existing protocols doing a big airdrop, and while it was clear he was just trying to get some hype and volume to Polygon, it def got me more interested. Anyways we'll have to see and all you can do is do a few accounts and move a lil eth over and do a few tasks it isn't much effort so it's certainly worth paying $20 in gas etc. To hope for an AD. Having said that I've barely done more than a few transactions on BASE and doubt I do more than that at all, maybe if I get inspired one day I'll do one account properly on it but currently not much inspiration.
I'm not rly sure about Polygon. My original thinking was def not, but then the founder came out and said something about there's no rules regarding existing protocols doing a big airdrop. (Parahrasing) while it was pretty clear he was trying to draw some of the airdrop volume over to PolygonZK, it did make me slightly consider the possibility and I now have 3 accounts on there with a little bit of eth and doing a few little quests and such. I still think the airdrop is unlikely but it's possible. I def wouldn't grind 30 accounts on it, like ZKS, SN, LINEA are prob high 90% in regard to airdrop possibility and Polygon wouldn't be better 50% on a good day at this point in time. So do what you will with that info. 🙃
Yep couldn't agree more. I'm also farming them, well zks, SN and have just started Linea. On the fence about BASE & Polygon zk, not fully confident they'll do a token, what are your thoughts? I mean I'm very confident on ZKS, LINEA & SN but dunno about those other two. Feels dicey for BASE given the regulatory stuff around it with them being a publicly traded company and PolygonZK well they already have a token though their founder did recently say there was no rules around projects that already have a token doing an AD. Obv trying to get some of that AD volume/hype lol.
Good post, I don't think we can truly gauge which will be the most used L2s while there's so much airdrop farming going on. Ive use ZKS and ARB by far the most. I'm very keen to start exploring LINEA tho as they mature and get a lot more apps deployed. Starknet, I've literally done everything there is to do on there lol, there's not many builders and the chain is slow and clunky and thats after their update. They were totally unusable a few months ago. I didn't realise they used a new programming language though, that absolutely explains it and explains why it needs its only wallet as opposed to MM and the usual options. Anyways, it's def a case of wait and see until all the chains launch their own governance tokens and airdrop farmers go elsewhere. I think we'll see vastly different stats once that happens and people are no longer just spamming out LPs and contract interactions for as many wallets as possible to qualify for airdrops.
This is an interesting one because I don't think you can really say someone is winning while there's tons of airdrop farming going on across several of them which greatly skews the stats. While Arbitrum is certainly used more with more TVL than Optimism. Volume continues to soar on ZKSync as people farm it with many wallets in the hope of an airdrop. Similarly, chains that have just deployed their mainnet such as Linea, Base & Polygon ZKEVM will likely follow ZKS in growing a lot over the next year as airdrop farmers do their thing. Linea will likely be the biggest of these as they have three quarters of a $billion in funding. Then in the background you also have chains like Starknet that even with airdrop farmers are still not used much because the chain is slow and clunky. However until all have launched their own token and the dust has settled on the airdrop hype, we won't be able to see which is truly used the most. Having used all of these chains If I had to guess I'd say it will be Arbitrum that sees the most use, it's got the cheapest gas, it's quick and there's lots of apps on it. ZKS may well be 2nd though I wouldn't discount LINEA as they are such a big project with an experienced team and a heap of funding. Only time will tell though, post this thread again in 18 months and we should have fairly accurate figures by then.
$GMX - derivative platform on ARB, I believe the derivative DEX narrative will gain popularity, especially when people are forced out of CEXs for derivatives. $GNS - see above. $ICP - best team in the game, decentralized cloud computing, it's never really had a bull run and it was short squeezed by the FTX cartel, I believe it's undervalued. $ARB - L2s will be a big narrative, I am hedging my bets with all of them. $ZKS - see above. $ZRO - see above. $LINEA - see above. $BASE - see above. The only old crypto from last cycle is icp. A lot of these are potentially airdrops I am trying to farm as well.
If I had stuck to BTC since I got into crypto (considering BTC was the first coin I ever had), at the previous ATH, I'd be between 10 to 15x up on my fiat investment. But by playing around with alts, I went from 3 figs to 6 figs in the last bull run and then down to 5 figs now. I don't see why I should start fading alts now. A good portion of my portfolio is btc and eth. I already have sights on some of the next alts I would ride out which includes ZKS & ADE while I'm already holding a couple alts. People who lose long-term, simply don't take profits and/or buy tokens programmed to go to zero.
Uniswap for ARB or OP, pancakeswap for BSC, Kyber/Syncswap/MAV for ZKS and occasionally SUSHI or WOO.fi for cross chain swaps.
Strong picks you got there, I share two with you but I'm gearing more towards new solid projects. Infact I got more upcoming projects on watchlist than already trading tokens. My most anticipated is Adeno token, with their presale registration announced for 24th. Telecoms is something that is still unexplored in web3 so we can say they're early. SEI, ZKS, ZRO are some other upcoming tokens I'm patiently waiting for.
I'll be dropping AVAX for something more low cap like VRA or better still use the fund for upcoming projects you can trade during the bull run. For example, if that was my portfolio and I register for the Adeno token presale later this month and get it, I'm definitely selling avax to ape into ADE. I would absolutely do the same if ZKS or ZRO were to launch.
Still unreleased but ZKS, I hope the team learns from ARB fuckups and does better..
Blur NFT Marketplace: Season 2 coming April 2023 Sei Network ($SEI) Airdrop: Confirmed! Vela Exchange ($VELA) Airdrop: Confirmed. zkSync ($ZKS) Airdrop: TBC Sui Blockchain: Further Airdrops TBC My MetaTrader ($MMT) Airdrop: 2nd Round Confirmed! StarkNet ($STRK) Token Airdrop: Potential 2nd Round? Metamask ($MASK) Airdrop: TBC Shardeum ($SHM) Airdrop: TBC LayerZero ($ZRO) Airdrop: TBC
Upcoming airdrops: zkSync (ZKS) Starknet (STRK) ScrollZKP (SCROLL)
Upcoming airdrops: Blur NFT Marketplace: Season 2 coming April 2023 Sei Network ($SEI) Airdrop: Confirmed! Vela Exchange ($VELA) Airdrop: Confirmed. Details TBC zkSync ($ZKS) Airdrop: TBC Sui Blockchain: Further airdrops TBC My MetaTrader ($MMT) Airdrop: Second Round CONFIRMED! StarkNet ($STRK) Token Airdrop: Potential second round? MetaMask ($MASK) airdrop: TBC Shardeum ($SHM) Airdrop: Details TBC LayerZero ($ZRO) Airdrop: TBC
İ want to share some upcoming airdrops: - Blur NFT Marketplace: Season 2 coming April 2023 - Sei Network ($SEI) Airdrop: Confirmed! - Vela Exchange ($VELA) Airdrop: Confirmed. Details TBC - zkSync ($ZKS) Airdrop: TBC - Sui Blockchain: Further airdrops TBC - My MetaTrader ($MMT) Airdrop: Second Round CONFIRMED! - StarkNet ($STRK) Token Airdrop: Potential second round? - MetaMask ($MASK) airdrop: TBC - Shardeum ($SHM) Airdrop: Details TBC - LayerZero ($ZRO) Airdrop: TBC
Just spot, I don’t think ZKS has a market for perps yet
Not necessarily better, I love Arbitrum and it’s still too early to favor ZKS. I like ZKS’s txs in which you use gas to approve txs but sign for txs thereafter, that’s a really neat feature. ZKS has a *lot* of funding and has stayed relatively under the radar despite that. The tech is potentially a notch higher than anything we’ve seen yet, unlimited throughput, cheap computation, fast txs. People much smarter than me are calculating that it’ll be worth a lot more than ARB on an airdrop basis.
Small amounts of LTO, SWTH , NII and ZKS
Big feeling it's gonna be L2s/zkEVM. So many lively innovations is going and the fact people are ignoring them gives me more confidence. MATIC, OP, CTSI, LRC to watch. Incoming: ARB and ZKS too.
Big feeling it could still be L2s/zkEVM. So many lively innovations is going and the fact people are ignoring them gives me more confidence. MATIC, OP, CTSI, LRC to watch. Incoming: ARB and ZKS too.
There was a $ZKS once that went by the name of zkSync. How is that project related to this one?
Curious what everyone’s favorite ETH layer 2 is right now: Arbitrum Optimism Loopring IMX OMG ZKS
Post is by: Maswasnos and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/s4r5k5/overview_of_current_ethereum_rollup_solutions/ **High-level L2 Ecosystem Overview** You’ve probably heard about “L2” by now; it’s Ethereum’s solution to the blockchain trilemma. Rather than try to do everything on mainnet, new cryptography concepts have enabled the off-loading of transaction execution to secondary networks called rollups. These secondary networks will be able to “inherit” the security of Ethereum mainnet while bundling thousands of transactions together for drastic fee savings. For more on the details and theory behind rollups, check out Polynya’s blog: https://polynya.medium.com/ But enough about theory- what rollups exist today? What differentiates them? What risks are there? First, some useful resources: https://l2fees.info/ - A simple overview of what some common actions cost on several rollups compared to Ethereum mainnet https://l2beat.com/ - An incredibly useful site aggregating all sorts of up-to-date information about layer-2s https://defillama.com/chains – Statistics aggregator for DeFi. Great for comparing TVL between chains and rollups. Now, the major players in the rollup space: * [Arbitrum](https://portal.arbitrum.one/) – The largest rollup by TVL and by number of deployed dApps. Arbitrum uses fraud proofs for security, and usage is very similar to mainnet. Currently centralized and does have admin keys during beta. Fees are a few dollars. * [StarkWare](https://starkware.co/) – Creators of StarkNet and StarkEx. StarkNet is their general-purpose rollup which is currently in mainnet alpha and only has “test” apps right now. StarkEx is the rollup tech powering dYdX, ImmutableX, DeversiFi, and Sorare. Uses validity proofs for security, and each StarkEx app has different security attributes. StarkEx apps have over a billion dollars in combined TVL, easily the 2nd largest rollup by that measurement. * [Optimism](https://gateway.optimism.io/) – Arbitrum’s main fraud proof competitor. Usage is again very similar to mainnet and has a decent number of deployed apps. Currently centralized with admin keys and the fraud proofs are not yet operational. Has been un-whitelisted since December 2021, and fees are a bit lower than Arbitrum’s. * [Loopring](https://loopring.io/#/) – Everyone has probably heard of LRC by now, but you might not know that it was the first operational validity proof rollup! LRC has been operational for well over a year now and recently launched their L2 smart wallet app. They’re one of the few rollups with a token right now. Loopring has fairly good security, their main flaw is that there is no delay on code updates; they do have an operational “escape hatch” however. Fees are generally under $1 for transfers. * [Metis Andromeda](https://www.metis.io/ecosystem-partners/) – A fork of Optimism, Metis has set out to be a home for DAOs so that they can more seamlessly cooperate with each other and with the broader digital economy. They currently share all of the drawbacks of Optimism, although there is a METIS token available. * [Boba Network](https://boba.network/ecosystem/) – Another optimistic rollup made with forked code from Optimism, Boba is built by the Enya team at the OMG foundation. They share the same vulnerabilities as the other Optimism forks, and like Metis they do have a token (BOBA). It’s still relatively early days for Boba, and it remains to be seen how well they stack up against competitors since they’re also aiming to be a general-purpose L2. * [zkSync](https://zksync.io/) – Created by Matter Labs, zkSync is aiming to be a major player in the zkEVM space. Their current product “zkSync 1.0” is available today with transfers/trades and limited NFT functionality, but 2.0 is in testnet which is aiming to have full EVM compatibility. ZkSync is arguably one of the safest rollups currently with a 14-day delay on code updates and an operational escape hatch should the operator go down. There is currently no token, although zkSync has confirmed that they intend to move to community governance in the future. Fees are generally under $1 for transfers. * [ZKSwap](https://www.zks.org/) – Similar to Loopring, ZKSwap is designed to be a validity-proof-based L2 DEX with transfers and an NFT marketplace. There are subtle differences in the tech design of ZKSwap vs. Loopring which I won’t get into here. ZKSwap does have an 8-day delay on updates and an operational escape hatch function, and it also has a token (ZKS). It does not have a fiat onramp I'm aware of, unlike zkSync and Loopring. * [Aztec](https://zk.money/) – Also known as zk.money, Aztec is the only operational rollup aiming to be a privacy network. Currently zk.money 1.0 is live and available for “shielding” transactions, and they plan to launch 2.0 in 2022 along with “decentralization”. If they’re able to achieve EVM compatibility, you could essentially have monero-like privacy while using Ethereum-based assets and apps. They currently have some of the strongest security with zk.money 1.0, although it is limited to simple payments. * [Polygon](https://polygon.technology/get-started/) – Everybody knows about the MATIC sidechain (commit-chain?) but you might not know that Polygon is also a tech leader in the zk-rollup space. They’ve acquired several cutting-edge teams and are developing several projects such as Miden, Nightfall, Zero, and Hermez. Their operational zk rollup product is Hermez, which only performs simple payments at the moment and has some compromises in terms of security. It’s unclear whether the MATIC token will have a role to play in the rollup economy, but Polygon itself is likely to be around for a long time as they’ve developed important tech in the space. Hopefully I’ve given each major rollup a fair summary. I highly recommend reading the information on l2beat.com to understand where each rollup stands in terms of adoption and security. If you’d like to try one out, evaluate your own security needs relative to the value of your investment, and proceed accordingly. If you find an ecosystem you enjoy, pay close attention to it! New things are happening nearly every day in this space and staying abreast of all the updates is like drinking from a firehose. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
ZKSync is a ZKRollup solution and won't have a token supposedly. I was initially going to address ZKS in this post but decided not too because I don't have enough information on them. I'm also invested on CELR, but gotta give it a deeper look into their scaling solution.
$HERO $SYS $RFOX $CPC $ZKS $CKB Mark my words
1. Polygon (MATIC) 2. Loopring 3.OMG Network (OMG) 4. ZKSwap (ZKS) 5. Sale *saved you a click*
And I see the same for ZKS for L2 DEXs
Immutable X. ZKS Rollups for NFTs. Number 120 or so MC. Just listed a few weeks ago. Partnered with Coinbase but not listed with them yet or on Binance yet too.
It seems that your comment contains 1 or more links that are hard to tap for mobile users. I will extend those so they're easier for our sausage fingers to click! [Here is link number 1 - Previous text "ZKS"](https://zks.org/en) ---- ^Please ^PM ^[\/u\/eganwall](http://reddit.com/user/eganwall) ^with ^issues ^or ^feedback! ^| ^[Code](https://github.com/eganwall/FatFingerHelperBot) ^| ^[Delete](https://reddit.com/message/compose/?to=FatFingerHelperBot&subject=delete&message=delete%20hktacqh)
[ZKS](https://zks.org/en ) and it's super being slept on at the moment. They already have a working exchange and it's the only one that supports many EVM's, like they have Binance Smart Chain L2 up and running as well. Not that anyone needs it right now since BSC transactions are pretty fast and cost only 70cents right now, but in the future BNB will just grow in value since they burn tokens and the transactions will become more expensive. So maybe someone will want to buy future SHIBA type coins on BSC L2 with fee-less transactions and you can already do that right now on https://zks.app Well you can only kind-of do it right now, barely any BSC coins are traded and the [volumes are miniscule](https://bsc.zkswap.info/en) but still. The fact that it works is a great showing of a working product.
ZKS/MATIC/CELR if you are looking for particularly zk rollups lke LRC, then ZKS… otherwise there are lots of eth layer 2 projects.
ZKS has a lot of potential. It also has upside on the price.
I'm glad I bought a bunch of ZKS (zkswap) yesterday. It is the same type of thing as LRC. Zk swap tokens are going to explode.
why is no one talking about ZKSWAP ($ZKS)?
I am pretty sure that LRC was mentioned quite a few times even months ago (I would have to go through my own comments …) together with SKL and ZKS (other „rollups“)… as said pay attention to the factual comments here. There are often some good ones… Best to all of you
Just wondering, how does the token (ZKS/LRC) benefit from this technology being fully adopted?
I need to agree with Machineelf - at least partially. LRC together with ZKS and SKL (I put these broadly into the „zk-rollups“ family) were mentioned pretty much a few months back. As an early Matic holder I remember that quite well as these were at that time already named as the better solution concerning the gas fees…
Personally, I like ETH L2 solutions and we have many interesting pumps in the space before EIP 1559 when they all began to dump because the crowd believed that Ethereum would finally solve the gas fees problems - guess what!? That didn't happen! So, what happens now? Attention goes back to L2 projects like LRC, ZKS, SKL, and others.
There are a few out there from all sorts of market caps, google it to see their market caps and projects, find which you like it the most. I recently went up with a great investment on ZKS, hopefully it goes well.
ZKSwap... (ZKS) Early in the game but those who got in at .74 are selling at .84 and beyond that there's not alot of resistance... what am I missing? In the last week I've seen it open at .74 then go for 2.77 then dip to .84 with humble amounts of shares, no more than a couple a "K"... yet no whales as far as I can tell. Trading for cents and it doesn't make sense!
Anyone watching ZKSwap (ZKS)? Just listed on Bitmart's exchange and #300 on coin gecko... seems promising. Thoughts?
QNT, Luna, ZKS, NRV ... even this refinable (FINE) shows sign of life again...
Anybody has a clue why ZKS is rising? Pump and dump? Went in at 0.6 and don‘t know what to do with it rm…
Here’s my tips on using Crypto.com: 1. Easiest way to add fiat is to link your checking account to your Apple Wallet (or Droid equivalent), then add funds to this wallet. Then you link your ACH bank info from your Crypto.com account and use the transfer to bank option to move funds for free. If I move funds on a early Friday morning it’s there later that morning. Now I’m getting 3% crypto back on things we have to buy anyway. 2. You can use your rewards and yields to fund other crypto activities: I’ve been taking crypto rewards and yields and turning around to make even more crypto at even higher rates (at higher risk) in non-ETH solutions like ZKS and BSC. 3. The cheapest way I’ve found so far to move funds off of Crypto.com is to send it to something like a SafePal wallet where I can receive Stellar (XLM) for about 4 cents, then turn around and swap it into ETH ERC-20 or BNB BEP-20 (to take advantage of the juiciest yields in DeFi or CeDeFi on BSC). The yields are amazing at BSC; highest and steadiest rates I’ve seen in CeFi or DeFi.
Another day filled with bloodshed! * The market cap couldn't even stay above 1.8t. Market cap now considered noob. (by me) * Grandpa bitcoin had a small tumble and fell a few stairs down to the 57th. * ETH does basically nothing. We're used to that. * ADA attained the upgrade "quantum superpositioning" and was valued at both 1.30 and 1.80 at the same time. * XLM once again 50 cents stablecoin. Oh, wait, wrong month. XLM is once again below 40 cents. * ATOM has a bit more growth and is now above 22. Atom is the reason XLM dipped. Depression. * Since I can't bully ATOM right now, I'll bully AAVE for staying under 400 like a big fat waste of time! * FTM Grew and grew and gre... went down again. It wants to spike but is too lazy to actually do so. * Throughout the top 100 there's a lot of red to be found. * Moons are once again the hot topic (if we ignore ADA) with the distribution list being released. * NFTs continue to grow. 1inch is jelly. * Many coins being mentioned, but beyond the typical ETH and BTC, none are standing out in numbers. Just like the top 100 is showing. Coincidence? I think not! * Today's top 100 biggest gainer by quite a headstart is ZKS. Gaining over 20%. (20% is the biggest gainer now, it's bad!) * Today's top 100 biggest loser is none other than ADA. Though ADA superpositioned, ultimately its price fell. ADA under $1 by tomorrow confirmed. (I did the calculations! They are correct!) * I've been asked to shill some random coin that hasn't even managed to make it to the top 2000. Apparently its glorious rise deserves mentioning... cause that never happens to sub 2000 rank coins... * Looking a bit beyond the top 100, some random coin called KARMA 9rank 262) has gained 160% in the past day. With my mention and being on Reddit, it will probably gain another 160%. * Today's mental image is a senior home with all dem oldies sitting on their chairs half asleep watching a game of golf. (And ADA again trying to ruin things by screaming like a lunatic. Well, your tv privileges are taken away, ADA, go think about that in your room!)
Into DeFi? Sure, there's a DeFi subreddit that makes a good start. I'd link them for you but rules here don't allow it. Just search for "defi" in reddit. Lots of subreddits for the various projects too that you can read up on the projects. I Here's some decent DeFi resources: https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance https://docs.yearn.finance/defi-glossary The closest thing we have to an S&P 500 in DeFi: https://defipulse.com/ If you're a real DeFiDegen, then you're investing liquidity on ETH sidechains like BSC or L2 ETH rollups like LRC or ZKS, for example. Introductory incentives for new (read: more risky) projects are astronomical, temporary, yet also real, as far as daily returns...for now at least.
You couldn't be more wrong about airdrops being not worth your time. For those willing to take higher risks, and are willing to do research: DeFi yields blow the doors off CeFi yields in just about any crypto you look at. In the last few months in DeFi we're seeing vampire liquidity attacks amongst start-ups and giants vying for the attention and crypto of early adopters, with SushiSwap starting this trend when they airdropped tokens to steal business from Uniswap. This crypto business warfare takes the form of some serious sized airdrops for major projects, worth thousands each in some cases. Then this is followed up with heavy liquidity incentives to encourage further adoption and use. DeFi power users have been making out like bandits just by doing our thing and using beta products and services. UNI, 1inch, SDT, ZKS...all of these were 4 figure airdrops for many just recently.
I know that as well, ZKS did great for me. But even though I'm on /r/CryptoMoonShots it's something that should only be a small bet. Plunging 100% of $5k into it as a newbie to crypto would be insane.
Same, but bought ZKS and they are going up the same amount, so no change whatsoever on that trade.
so i kind of happened upon this coin today on coinmarketcap (likely because it just bumped into the the top 100) [zsk](https://zks.org/en) the description on cmc grabbed my attention though >About ZKSwap >What Is ZKSwap (ZKS)? > > >ZKSwap is a Layer-2 decentralized exchange that adopts AMM model and zk-Rollup technology. It’s built on Ethereum, and aims to give traders low latency & no gas fee experiences. > > >ZKS is the utility and governance token that is used in ZKSwap. > > >You can try the application at zks.app. > > >How does ZKSwap work? > > >Through zk-Rollups technology, all ERC20 tokens are transferred to layer-2, and the consistent state of layer-1 and layer-2 is guaranteed based on continuously generated zero-knowledge proofs. This solution allows all exchanges to execute on layer-2, achieving real-time swap with zero gas fees, unlimited scalability, removing the constraint from the Ethereum’s TPS, and block confirmation time. if this is actually an exchange that can alleviate gas fees, that seems fantastic.. but also somewhat too good to be true anyone familiar with this platform?
Wow, there's so many cool and interesting projects. I recommend checking out L2 ETH solutions or even the Defi projects that are listed on L1 side chain Binance Smart Chain (which make them CeDefi). I'm a fan of L2 solution ZKS (they've done 3 airdrops so far and have tons of liquidity incentives). No gas fees on L2 ETH/ZKSwap transactions is amazing when compared to the gas fees we've been seeing recently on ETH. On Binance Smart Chain - if you're a risk taker sort of person - I'm a huge fan of Pancakeswap, Autofarm (which autocompounds), and Beefy Finance. No BS, I'm seeing returns equivalent to 1 year of Cefi staking returns at Crypto.com in only a week, with funds that are 5x smaller than the Cefi stakes. These returns at this level aren't going to last but what a ride while it does.
I love your enthusiasm that ETH is awesome and the next great thing. I don't disagree with this viewpoint at all. However, you are perhaps overlooking that the ETH ecosystem is big enough and diverse enough that ETH can both be a winner \*and\* that one or several L1 \*and\* L2 solutions - such as BSC, LRC, DOT, MATIC, ZKS - can coexist with ETH mainnet and inter-operate with other blockchains to provide not a winner take all situation, but a situation where not only is this planned, but it's encouraged. What's not encouraging to me as an ETH HODLer since it was $39 is that ETH itself is stymied somewhat by : * Inertia (it's massive and slow to move) * and slow development (because ETH itself is difficult to work with and you don't want to break functionality of the existing giant network) combined with * rightfully self-interested ETH miners who are resisting any cuts to their profits in the name of bringing down gas fees to make using ETH both cheaper and fair. To overlook the three factors I mention above is to do a disservice to new crypto investors that ETH is the end all and be all in the cryptoverse.
Need someone to tell me why it's a bad idea to buy more [ZKS](https://zkswap.info/) (A layer 2 ETH dex), at <$3. Was thinking about buying more, since I think L2 dexes are going to be pretty big, but I'm wondering if I'm betting on the wrong horse with ZKSwap.
I have been using Zkswap. Received airdrop of ZKS, their staking token. Works well once you get onto L2.
I participated in a testing of ZKS and i got rewarded tokens equivalent to 5k usd, i cannot earn (And im not saying saving, just earn in my paychecks) that money in my shty 3rd world country in 1 year, not saying that im going to quit my job to do this forever because its surreal, but its a huge help, sometimes i got smaller airdrops, maybe 300 or 500usd (Now im waiting the one from Mask, idk how much it will be)... But these things for plebs like me, and i know we are thousands and thousands, its a huuuuuuuuge bonus for our lifes, even if we need to scratch the internet hours and hours.
ZKS holding steady due to 1:1 airdrop coming Feburary 25th and its potential 😎
Nope, you can deposit for $5 fee. However if you keep ZKS in Layer 1, you get the ZKS delivered to that same Layer 1 address. At least that is what I understand from the Medium article. Also there exists liquidity pools for ZKS/ETH and other pairs available, I believe so it shouldn't be stuck even if on Layer 2.
I understand that part, im just making sure I can get the airdropped ZKS out of layer 2 so that I can sell it. I assume it isnt stuck there right?
You can keep ZKS in Layer 1 and buy on Uniswap and you will still get airdrop, as stated in the article > ...the ZKSwap team has decided to conduct another 1:1 airdrop to all users who hold ZKS in layer1 (**exchanges or independent wallet addresses**), ZKSwap layer 2 or ZKSwap Proof-of-staking contract. If you only want to buy it to sell it, buy through Uniswap.
I assume I can switch from layer 1 to 2 and back as desired right? So after the airdrop I would need to transfer the dropped layer 2 ZKS to layer 1.
So if I buy 10 ZKS today, basically I'll receive an additional 10 in a few weeks?
tldr; The ZKSwap team will conduct a 1:1 airdrop to all users who hold ZKS in layer1 (exchanges or independent wallet addresses) or layer 2 (proof-of-staking contract) on February 25, 2021. The team will not hold any tokens in the first year, so the team and angel investors will not participate in the aird *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Alright nerds I TOLD YOU ABOUT ZKS dont say I didnt warn you! Soon it will be in its rightful placeabove uni
So after using [zkSwap](https://zkswapofficial.medium.com/), the Layer 2 Decentralized Exchange (DEX) that I heard about this morning on [Coinbase news](https://www.theblockcrypto.com/linked/94848/zk-rollup-layer-2-dex-zkswap-mainnet-ethereum), and after having used it myself to move ETH to buy some ZKS... I can say a few things about it. 1. The only reason to use zkSwap, from my knowledge and experience, is if you plan to perform multiple swaps using the tokens that are current available. They have a modest selection but according to what an admin said in their telegram they are planning to add 100 more. You have to move your deposit from Layer 1 to Layer 2, which can only be done via a smart contract, which means gas fees. Hence if you are only exchanging 1:1, like say ETH to ZKS, you are better off just using Uniswap, but if you want to buy multiple tokens at once in aggregate, it isn't a bad way to do so and avoid costly fees. Hence zkSwap definitely won't be replacing Uniswap or similar DEX's from what I can see, but feels like something that would be supplemental to it, as a great alternative for making big moves on Ethereum. 2. Once you make your deposit, transactions are without gas fees, but they do supposedly take a 0.3% fee to keep the network going, which is pretty great. However, from what I have experienced, it will not always get you the best price. For example, I exchanged 0.115 ETH for 76 ZKS, when on Uniswap I found as much as 0.86 and on Sushi I found it for 82 ZKS. Transactions can take a bit of time depending on network traffic, but the higher the network traffic, the less you have to wait since it works on zkRollups (aggregate transactions and perform the work in L2 and commit/verify in L1), but it can be slow when no one is utilizing the network. 3. Withdrawal costs $5 worth of the coin you are withdrawing, which isn't too bad if you do multiple swaps worth of work, but withdraws can take a while as it is also handled as a zkRollup aggregated transaction. Overall, I would recommend it for people who are moving big money around, but would suggest people who just plan to make your one-off trade to stick with normal DEXs. You can keep your ERC-20 tokens up in the Layer 2 wallet, which can come in handy if you wish to quickly sell a volatile coin, but I am unsure of how risky that would be. Also, I should note that if more people were using something like zkSwap, you would likely have a lot less network bandwidth and congestion from exchanges like Uniswap and its ilk, lowering overall gas fees.