Solutions to composability in Layer 2 and our daily Q&A, April 8th

Daily Operational Newsletter from ZKSwap Team

Today’s ZKSwap status: As of 18:00 GMT on April 8, 2021

• TVL $468million
• Liquidity $321 million
• Transaction 6805 (24 hrs transactions)

Thanks to all of you who have participated in our recent #ZKSwhalehunting on Twitter. The winners have been announced and we hope you had a bit of fun.

In April, we will continue to deliver innovations on Layer 2 and contribute to the build-up of the Layer 2 ecosystem.

We think there will be multiple layer-2 solutions coexisting in the future, and the market size of Layer 2 will be at least 20%-30% of Ethereum because eventually, all users will use layer-2 solutions. The process of user migration from layer-1 to layer-2 is the process of layer-2 value discovery. With multiple layer2 solutions, De-Fi composability will be another crucial factor.

There are two solutions for layer-2 composability. One is that all transactions return to Layer1 first and then interact. For example, ZKSwap supports layer-2 LP token withdrawal to Layer1; then its composability is the same as De-Fi products on layer-1. Another solution is that projects using the same layer-2 standard will be composable. At present, there are already several projects willing to use the ZKSwap solution; these projects can interact with each other.

With the programmability of layer-2 (supporting virtual machines or common modules), the composability and interactivity of layer-2 solutions will also be greatly improved.

Q&A of the Day

Will I receive less than 1ZKS from PoL mining?

Yes, you can be assured the reward will be distributed, however, we are distributing less than 1zks rewards together after accumulating them for some time. The cumulative sum of the first 10 days has been distributed today.

Can I still use the ZKSwap testnet?

You can connect your metamask to ZKSwap on zks.app, then choose Ropsten if you wish to use the testnet.