Whale Added $250 Million Worth of Liquidity while ZKSWap TVL Hitting $1.5 Billion — March 19 Briefing and Q&A
March 19
Daily Operational Newsletter from ZKSwap Team
Today’s ZKSwap status: As of 18:00 GMT on March 19, 2021
- TVL $1530 million
- Liquidity $1387 Million
- Transaction 13349 (24 hrs transactions)
What would make it a better weekend for you? The answer might be this booming Friday in which our liquidity exceeds $1billion. Approaching the end of our PoL mining, a whale added about $250 million worth of liquidity to ZKSwap, pairs include USDC/USDT, ETH/USDT, ETH/WBTC, WBTC/HBTC. This brings our liquidity to $1.3B which hits a new record together with TVL. According to Debank Data, we are now close to 30% of both Uniswap’s TVL and Liquidity after being one month on mainnet.
Our strength of growth comes from targeting the major pain points, such as high gas fee and low TPS, to provide an excellent user experience, innovating through cutting-edge technology as ZK-rollup, and the never-stopped exploration on building a better Layer2 ecosystem for every participant. In Q2 this year, we will support user-initiated unlimited token listings as well as non-fungible ERC 721 token standard and NFT token transactions and swaps.
And as always, we’d like to hear more of your feedback, do not hesitate to shout out.
Q&A of the Day
How to calculate the APY?
For example, you stake 1000 ZKS
TVL: 1896858 ZKS
1000 / 1896858 = 0.00052718759 (your percentage of reward)
ZKS mined daily = 0.00052718759 * 16000 = 8.44 ZKS
So if you staked 1000 ZKS today you would earn 8.44 ZKS each day. But this would depend on TVL.
How much fee do I need to pay to withdraw ZKS to L1?
If you withdraw ZKS to L1, you need to pay $5. You will need to pay gas fees to make it ETH or USDT.
How do I deposit ETH from my ledger?
You can simply connect your ledger Metamask and then to the zks.app.
When I want to provide liquidity to ZKSwap (e.g. ZKS/ETH), do I need to have ZKS and ETH in L1 wallet, or do I need to firstly transfer it to ZKSwap L2, then retrieve it to L1, before it can be provided as liquidity?
You need to first deposit it to the L2 and then provide the liquidity, after which withdraw your LP tokens to L1 and then stake, you can find this tutorial on our website.
