ZKSwap Launches Zero-Gas Layer 2 DEX To Improve DeFi App User Experience

Singapore’s ZKSwap has announced the mainnet launch of its fully audited DEX protocol Layer 2 solution.

ZKSwap is a decentralized exchange protocol based on ZKSpeed, a Practical ZK-Rollups Solution. Developed by L2Lab and backed by a recent $1.7 million investment from Bixin Capital, SNZ Capital, FBG Capital, and Longling Capital, ZKSwap ultimately improves the DEX user experience, provides a solution to Ethereum Layer 1’s biggest problems, and helps DeFi applications scale.

Accprding to the company, they built their Layer 2 solution on ZK-Rollups, which scales the transaction capacity on Ethereum using zero-proof technology while offering advanced security and data availability. As a result, ZKSwap offers 100x the capacity of the leading DEX, Uniswap, and 1/100th of the gas fees of Ethereum Layer 1. ZKSwap supports the real-time, free transfer and swap of ETH and ERC-20 tokens on Layer 1, with 100 TPS. ZKSwap currently supports 30 tokens, with plans to scale up to 100 based on community voting.

“We are very proud to present the mainnet release of ZKSwap, which is now fully functional and very hands-on. We believe AMM-based layer-2 DEXes represent a whole new stage in the development of DEXes, and the highly performant DEX of ZKSwap powered by the cutting edge ZK-Rollup technology is well-positioned to be a leader,” said Alex Lee, Head of Development of ZKSwap. “The solution offered by ZKSwap will be a strong boost to a complete lay-2 DeFi ecosystem.”

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