ZKSpace launches a decentralized exchange on the zkSync Era network

The ZKSpace team announced the integration of the decentralized exchange (DEX) ZKSwap with the L2 solution zkSync Era, according to the project’s press release.

ZKSwap is a decentralized exchange built on ZKRollup technology that has been operating since 2021 and uses ZKSpace’s second-layer solution. As of publication, the platform supports swapping four tokens on the zkSync Era network: wrapped Bitcoin (WBTC), wrapped Ethereum (WETH), Ethereum (ETH) and USD Coin (USDC).

zkSync Era is a layer-2 scaling solution for the Ethereum network from Matter Labs. According to DeFi Llama data, the ecosystem’s TVL reached $186 million after the launch of the mainnet alpha in March 2023. Currently, 55 DeFi projects are deployed on the network.

“In the near term, ZKSpace will deploy concentrated liquidity to improve the user experience and reduce slippage. The team will also continue developing cross-chain compatibility for the DEX and will allocate liquidity between ZKSpace and zkSync Era,” commented ZKSpace representatives.

The ZKSpace ecosystem includes the DEX ZKSwap, the NFT marketplace ZKSea, the payment service ZKSquare and the ZKSpace Name Service (ZNS) domain name system.

The native ZKSpace token (ZKS) trades on OKX, Gate.io, Huobi and Uniswap. The total supply of ZKS is 1 billion.

Previously, the Matter Labs team introduced ZK Stack — a modular toolkit for creating Hyperchain networks on top of and alongside the Ethereum layer-2 solution zkSync Era.