zkSync is an Ethereum layer-2 network expansion solution based on the ZK Rollups architecture. It will launch the main network Fair Onboarding Alpha on February 16, 2023. At this stage, only registered projects are allowed to test and are not open to end users. On March 24, 2023, the mainnet of zkSync Era will be open to everyone. At the same time, zkSync2.0 will be renamed as zkSync Era, and zkSync1.0 will be renamed as zkSync Lite.
At present, zksync has been online for 2 months, how is the development of its network ecology? Let's find out.
1. TVL
The zksync era TVL maintained a steady growth in the first three weeks of its launch, stagnated after mid-April, and recovered somewhat since mid-May. The current TVL is $283 M, an increase of 9.5% in the past week, accounting for 3.29% of the overall TVL of layer2, ranking fourth.
2. Activity on the chain
According to browser data, zksync era has processed about 21 million transactions on the chain since its launch, and has 1.7 million independent addresses. Affected by the arbitrum AirDrop, Zksync achieved a high level of activity on the chain when it went online. The number of daily active addresses fluctuated in the range of 60–80k at the beginning of the AirDrop, and dropped to a low of about 30k in early May. rise.
On May 11, OKX Wallet launched Cryptopedia, a one-stop Dapp exploration and AirDrop interactive platform, with zkSync Era as the theme of the first issue, and set up a zkSync Era interactive zone. In addition to potential AirDrop rewards, users who complete interactive tasks can also draw NFTs of five different rarities jointly designed by OKX Wallet and zkSync. Affected by this activity, the activity on the zksync era chain increased significantly. At the same time, OKX opened the deposit and withdrawal of zkSync Era mainnet assets on May 20.
zkApes, the metaverse project of zkSync Era, launched the $ZAT AirDrop on May 10, and then shortened the time for claiming the AirDrop to one week. Before the deadline for claiming the AirDrop on May 17, the activity on the zksync era hit a new high. On the day when the AirDrop ended, $ZAT had 655,000 currency-holding addresses, surpassing USDC to become the token with the second largest number of currency-holding addresses in zksync era, after ETH.
On May 21, the zkSync ERA domain name platform ERA Name Service also conducted an AirDrop of$ERA tokens, with a total of 43,500 addresses participating.
3. Cross-chain funds
Data from the official bridge show similar activity. Stimulated by the arbitrum AirDrop, the number of active addresses increased significantly in the first three weeks of the mainnet launch. From mid-to-late April to early May, there were fewer active addresses. After mid-May, the data resumed growth and activity increased.
4. Ecological projects
According to defillama statistics, the top five zksync era ecological TVLs are all decentralized exchanges.
SyncSwap has trading, liquidity mining and Launchpad(not started) functions. Currently, 85% of TVL is concentrated in USDC/ ETH Pool, and APR is 25%.
Syncswap plans to issue 100 million SYNC tokens (not yet listed), and launch the trading mining activity "SyncSwap Loyalty Program" on April 10. The platform allocates a total of 900,000 SYNC for the genesis epoch. The genesis epoch lasts for 30 days. Ends May 10.
Users can get 1 ySYNC for every $1 transaction fee generated. In the genesis epoch, users have a total of mint 1.18M ySYNC (that is, they generated a total of 1.18 million US dollars in handling fees), and 900,000 SYNC are distributed on average according to the ySYNC holdings. Finally, every 1 ySYNC can get About 0.76 SYNC. The activity is currently on hold after the genesis epoch.
iZUMi Finance is a multi-chain one-stop Liquidity as a Service (LaaS) protocol, which currently supports four chains: ETH, Arbitrum, Polygon and zksync era.
The innovative discrete liquidity DL- AMM(Discretized Liquidity AMM) mechanism used by iZiswap is similar to the liquidity book mechanism of trader joe. It was released earlier, but it did not cause extensive discussions similar to the liquidity book at that time. DL- AMM allocates liquidity at certain fixed prices to further improve capital efficiency. At the same time, iZiswap pro also provides an order book trading method.
LiquidBox is iZUMi's liquidity mining solution based on Uniswap V3 LP. The project party can set incentives for LPs within a specific value range through LiquidBox. When users pledge V3 LP tokens to the iZUMi protocol, they can obtain incentives within the corresponding range.
The relevant data of the agreement defilama is quite different from its official website. The figure below shows the TVL and transaction volume of the official website.
The platform token IZI was launched in December 2021 and has been listed on exchanges such as bybit, kucoin, and gate. After a long period of decline, zksync rebounded significantly after its launch in April this year.
Mute is the first batch of DEXs on the zkSync Era. In addition to trading and providing liquidity, Mute also launched income amplifier Amplifier, bonds and DAO governance functions. Users can purchase MUTE Token with a 7-day lock-up period with MUTE/ ETH LP at a discount of Bonds. MUTE Token has been launched on bitget, and the token price soared when the zkync era mainnet was launched, and then basically continued the downward trend of shocks. The current main TVL is concentrated in the USDC/ ETH Pool, with an APR of 28%.
Velocore is the first ve(3,3) DEX built on the basis of Solidly and Velodrome on the zksync era. On April 3 and 4, 2023, private sale and public sale were carried out on its own Launchpad platform, and the private sale is hard-capped 90 ETH, public sale hard cap 450 ETH, achieved over 500% and 1814% over-raising respectively, the raised price is 0.0000207 ETH and 0.0000229 ETH, which is equivalent to $0.037/$0.041, the highest increase is about 6 times, and the current price is maintained at 2 times Earnings around.
SpaceFi is a cross-chain platform connecting Cosmos and the Ethereum Layer2 ecosystem. It currently integrates Evmos and ZkSync, and its products include DEX+NFT+ Launchpad+Spacebase. Spacebase is an on-chain community. Creating and joining Spacebase can increase mining rewards. Currently, a total of 18 spacebases have been created, and a total of about 30,000 people have joined the space. On May 6, spacefi adjusted the economic model of the platform token SPACE, reducing the maximum supply from 600m to 100m, and at the same time burned 40M Initial Supply. The current market value of space is only 780,000 dollars, and the transaction volume is also low.
Zigzag is a decentralized order book exchange, the first dex of zkSync 1.0, currently supports zksync lite and arbitrum. On March 3, 2023, more than 100,000 users received the platform token $zz AirDrop, accounting for 34% of the total token supply. The zigzag team also developed zkasico, a decentralized betting platform. Platform bet tokens include usdc, usdt, zz, and ETH.
Nexon is the first lending agreement to launch zkSync Era, which has been renamed Eralend. From the announced token model, 61% will be used for community incentives, 10% will be used for IDO, 15% will be allocated to DAO, 12% will be allocated to the team, 2% will be allocated to advisors, and 6% will be allocated to the team and advisors. month lock-up period. Due to the delayed launch of tokens and the diversion of activity by other protocols, Eralend's current TVL growth rate is slow, only around $2.5 million.
Reactor Fusion is currently the largest lending agreement for TVL on zkSync Era, and one of the few projects on zkSync that issued coins. TVL is around $3.43 million, currently only supports ETH and USDC assets.
UniDex is a Derivatives DEX protocol founded in April 2022. It was initially on the Fantom chain, and then expanded to Optimism, zksync era and other public chains and the second layer. Currently, the TVL is US$3.87 million, of which the TVL on zksync era is about US$1.6 million.
Onchain Trade is a spot and Derivatives DEX protocol built on zksync era, with a current TVL of $670,000, which is relatively small. Its token is OT, which will undergo IFO in March 2023. The public offering price is 0.15 US dollars.
Cheems is a meme project on the zksync era. From May 4th to 6th, holders with a wallet balance greater than 0.01 ETH or $PEPE or $AIDOGE on zksync era can claim $Cheems tokens. A total of 65,000 addresses participated in the claim, and the current number of currency-holding addresses is 51,000. The circulating market value is 27 million knives, and the current price is still very profitable compared to the opening price.
References:
https://l2beat.com/scaling/tvl
https://app.artemis.xyz/dashboard/zksync
https://zksync2-mainnet.zkscan.io/
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