L2Lab developers launched the decentralized exchange ZKSwap based on ZK-Rollups technology.
ZKSwap, Decentralized exchange built using ZK-Rollup tech launches on Ethereum
Within the first day since the mainnet launch, supporting trades for 30 ERC-20 tokens, ZKSwap has locked in $62 million in liquidity and $72 million in total locked value.#zkswap #ethereum #layer2 https://t.co/3Cf7uCEusY— ZKSwap (@ZKSwapOfficial) February 15, 2021
The project team said that the zero-knowledge proof-based scaling solution could significantly boost the throughput of Ethereum-based applications and reduce users’ transaction costs.
The decentralized exchange (DEX) supports 30 ERC-20 tokens. Within a day of launch, the platform attracted $62 million in liquidity, and the total value locked stood at $72 million.
“ZKSwap is now fully functional and very convenient. We believe that leading layer-2 solutions for AMM-based platforms represent a completely new phase in the evolution of DEX,” said L2Lab representatives.
The ZKSwap testnet was launched in November. In the same month, the startup raised $1.7 million in angel investments from Bixin, SNZ, FBG and Longling Capital.
Earlier ForkLog reported that the issuer of the stablecoin Tether added support for ZK-Rollups.
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