LONDON, June 19, 2021 /PRNewswire/ — zkLink, the first Layer2 multi-chain integration DEX based on ZK-Rollup technology, will be launching its testnet later this June. Aiming to link multiple chains in a user-friendly way, zkLink aggregates different ecosystems’ liquidity and makes it possible for native assets on different chains to interact and pair with each other.
zkLink connects separate Layer1 networks with a single Layer2 network so that tokens belonging to different ecosystems can be directly swapped with each other on this layer2, without an intermediate token. Users can swap their multi-chain assets simply with one click and will see the pairs that have never been seen before, such as CAKE-SUSHI, BNB-HT, USDT(ERC20)-USDT(BEP20), BUSD-HUSD, WBTC-BTCB, etc.
In the future, zkLink will support innovative DeFi scenarios such as cross-chain farming and the financialization of NFT, aiming to build a free market where assets in different formats can interact with each other and potentially capture higher values for holders.
To maximize product performance and optimize user experience, zkLink adopts zero-knowledge technology. Apart from unimpeded traffic and real-time transaction on Layer2, users can expect a negligible gas fee largely shared since hundreds of transactions are batched and compressed into one pack. Moreover, zkLink will refer to Uniswap V3 on concentrated liquidity so that capital eﬀiciency could be increased by about 4,000 times in the following version.
Above all, security of assets is zkLink’s cornerstone. zkLink’s layer2 could achieve the same security level as Ethereum Layer1. The Layer2 network will generate zero-knowledge proofs of the off-chain state on a regular basis and upload them to respective Layer1 contracts for verification. In this way, the security of assets and transactions is guaranteed by mathematics rather than game theory and economic models, meaning that nobody, including the platform itself, is able to jeopardize the security of assets, and users are able to withdraw tokens losslessly under extreme cases.
zkLink v1 will support Ethereum, Binance Smart Chain, Huobi ECO Chain (HECO), and in the foreseeable future, will also be connected with other smart chains such as Solana, Polygon, Fantom, etc.
Designed to provide users with various scenarios of multi-chain assets, with user experience as friendly as CEX, zkLink is committed to creating a more convenient and secure trading environment and facilitating an unobstructed DeFi world.
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