ZKSwap Launches Mining Events with $20+ Million Prize Pool, Publishes 2021 Roadmap March 7, 2021 ZKSwap Launches Mining Events with $20+ Million Prize Pool, Publishes 2021 Roadmap March 7, 2021
ZKSwap ( https://zks.org/en ), the first AMM-modeled Layer 2 decentralized exchange based on the ZKSpeed protocol, today announced its official 2021 roadmap and the launch of its Proof-of-Liquidity (PoL) and Proof-of-TransFee (PoT) mining events with a total prize pool worth more than $20 million.ZKSwap’s rapidly growing community will be able to reap profits from their support and gain a clear understanding of the company’s strategy for the year.ZKSwap’s full 2021 roadmap can be found here .
With the rise of DeFi, the Ethereum network has become expensive and congested.ZKSwap offers a solution to Ethereum’s high gas fees and low throughput to improve the DEX user experience and help DeFi applications scale.Since its mainnet launch last month, ZKSwap currently has over $60 million in liquidity and $161 million total value locked .
Alex Lee, Head of Development of ZKSwap, said:
“At ZKSwap, our goal is to provide transparency throughout our technical progress and involve the community in ZKSwap’s network growth.Since we launched our mainnet earlier this year, we’ve been working diligently to roll out our mining events and updated roadmap.We’re excited to share these and look forward to the community’s feedback and continued involvement.”
ZKSwap will officially launch the Proof-of-Liquidity mining (PoL) and Proof-of-TransFee (PoT) mining events on March 6 at 18:00 (GMT+8).The first phase of these events will last 14 days with 8 million ZKS mining rewards allocated for PoL and 1 million ZKS allocated for PoT.
The first phase of PoL mining will launch with six trading pairs: ZKS/ETH, USDC/USDT, ZKS/USDT, ETH/WBTC, ETH/USDT, HBTC/WBTC.For PoT, mining will be for USDT/USDC.ALSO READ : Ethereum Classic Executes Thanos Hard Fork To Ensure Several Years Of Mining Functionality For Graphics Cards
A detailed mining tutorial will be released on ZKSwap’s official website before the event starts.Additional rewards and trading pairs may be added according to the event status.
ZKSwap’s roadmap for 2021 is also now available on the company’s Medium blog .
The roadmap details ZKSwap V2 and includes the target date to launch a separate 100% full ZK-rollup version with both L1 and L2 data on-chain to further enhance platform security.
ZKSwap uses ZKSpeed to achieve high TPS and low gas fees by aggregating multiple zero-knowledge proofs, parallel processing of the PLONK algorithm, and categorization of off-chain data.It also enables GPU-compatible algorithms for higher efficiency.
Backed by a $1.7 million investment, ZKSwap launched its mainnet in February 2021.Prior to launch ZKSwap successfully passed security audits by ABDK, Certik, and SlowMist.ABOUT ZKSWAP
ZKSwap ( https://zks.org/en ) is a decentralized exchange protocol based on ZKSpeed, a Practical ZK-Rollups Solution.
Developed by L2Lab, ZKSwap offers a solution to Ethereum’s high transaction fees and low throughput to improve the DEX user experience and help DeFi applications scale.The project is backed by Bixin Capital, SNZ Capital, FBG Capital, and Longling Capital, and fully audited by ABDK, Certik, and SlowMist.
ALSO READ : Cipher Mining Technologies Inc.Inked $2 Billion Merger Deal With Nasdaq-Listed Good Works Acquisition Corp Disclaimer
Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies.We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction.
Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.
Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web.Should you buy some of these, we may get a portion of the sale.We in generally gather content from the major websites.
In every article there is always a clear link and attribution to the source publication.If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action.In any case, the content of the pages of this website is for your general information and use only.It is subject to change without notice.You May Also like.