zkSwap

Overview of zkSwap

zkSwap, a decentralized exchange (DEX) based in China, launched 1-2 years ago, operates without regulatory oversight.

It offers a wide array of cryptocurrencies including WETH, USDT, MAV, and HOLD, facilitating efficient trading with minimal fees—typically 0.04% for most pairs and 0.5% for select tokens like LONG.

Advantages include high transaction throughput, real-time transactions on Layer-2, and unlimited token listings. Users benefit from a user-friendly platform and various DeFi services such as swapping and liquidity provision.

Pros and Cons

Pros:

• High transaction throughput: zkSwap supports high transaction speeds, capable of handling hundreds to potentially over 10,000 transactions per second (TPS) on Layer-2, ensuring efficient trading experiences.
• Wide range of available cryptocurrencies: Users have access to a various selection of cryptocurrencies for trading, including established tokens and newer projects, enhancing liquidity and investment opportunities.
• Various services including swap, earn, pools etc.: zkSwap offers various DeFi services such as swapping, liquidity pools, and yield farming, providing users with multiple ways to engage and earn rewards within the platform.
• Real-time transactions: All transactions on zkSwap are processed in real-time on Layer-2, eliminating the need for users to wait for block confirmations, thus enabling swift and seamless transactions.
• User-friendly mobile app: zkSwap provides a mobile-friendly interface or app, making it convenient for users to manage their crypto assets, execute trades, and access DeFi services on the go.

Cons:

• Unregulated: As zkSwap operates without regulatory oversight, users face higher risks such as potential lack of investor protection and uncertainties in legal compliance.
• New established platform in 1-2 years: Being a relatively new platform, zkSwap may encounter challenges related to establishing trust, building a track record, and competing with more established decentralized exchanges.

Regulatory Authority

zkSwap operates without regulatory oversight.

The lack of supervision poses potential risks such as heightened vulnerability to scams, lack of investor protection, and uncertainty in legal frameworks.

Security

zkSwap employs a robust security framework through various audit processes conducted by reputable firms. These audits include Certik, Vital Block, Cyberscope, MythX, SOLID Proof, and Bail Security.

Each audit firm specializes in different aspects of blockchain security, conducting thorough assessments to identify vulnerabilities and ensure the integrity and safety of zkSwap's smart contracts and overall platform.

Cryptocurrencies Available

zkSwap features a wide array of cryptocurrencies available for trading, including well-known tokens like Wrapped Ethereum (WETH) and Tether USD (USDT), alongside emerging projects such as Maverick Protocol (MAV), Holdstation (HOLD), and Koi Finance (KOI).

This variety enables users to explore different sectors of the decentralized finance (DeFi) ecosystem, from stablecoins to niche utility tokens.

Trading Market

zkSwap offers a range of trading assets including established tokens like Wrapped Ethereum (WETH), Tether USD (USDT), and newer projects such as Maverick Protocol (MAV) and Holdstation (HOLD). This wide selection accommodates various investment strategies and provides opportunities for users to engage in decentralized finance (DeFi) activities.

Fees

zkSwap charges trading fees consisting of rewards for liquidity providers and a protocol fee.

For most pools like ETH/USDC, ZF/ETH, USDC/USDT, and WBTC/ETH, both components are set at 0.04% each.

However, pools involving LONG tokens, such as LONG/ETH and LONG/ZF, incur higher fees of 0.5% for both liquidity provider rewards and the protocol fee.

All other pools not specified maintain a standard fee structure of 0.04% for both rewards and protocol fees.

Payment Method

zkSwap, like most DEXes, doesn't accept traditional payment methods like credit cards or fiat currency (USD, EUR) due to its decentralized nature. To trade on zkSwap, you'll need to have existing cryptocurrency beforehand. Popular options include Ethereum (ETH), stablecoins like Tether (USDT), or any other tokens supported by zkSwap.

How to Buy Cryptos？

• Acquire Existing Crypto: zkSwap, like most DEXes, doesn't directly accept fiat currency. You'll need to have some cryptocurrency already to trade. Popular options include Ethereum (ETH), stablecoins like Tether (USDT), or other tokens supported by zkSwap.
• Choose a Wallet: zkSwap operates on the Ethereum network, so ensure your crypto wallet is compatible. Popular choices include MetaMask or a dedicated Ethereum wallet.

• Transfer Crypto to your Wallet: Send your chosen crypto from your original exchange or wallet to your Ethereum-compatible wallet address. Carefully review network compatibility before initiating the transfer.
• Connect your Wallet to zkSwap: Visit the zkSwap website and locate the “Connect Wallet” option. Follow the on-screen instructions to establish a connection between your wallet and the exchange.
• Navigate to the Trading Interface: Once connected, zkSwap will display its trading interface. Select the crypto you want to buy and the crypto you'll use for payment (e.g., USDT to buy ZKS).
• Initiate the Trade: Enter the amount you wish to purchase and review the trade details, including estimated gas fees (network fees on Ethereum). Confirm the transaction if everything looks accurate. The crypto you bought will be deposited into your connected wallet.

Services

zkSwap offers a variety of Decentralized Exchange (DEX) services built on the Ethereum network:

Swap: Allows users to exchange cryptocurrencies efficiently.

Pools: Provides liquidity pools for users to deposit funds and earn rewards.

Earn: Offers opportunities for users to earn passive income through staking and yield farming.



SwapBoard: Facilitates community governance and decision-making processes.

zkAggregator: Aggregates liquidity from various sources to provide users with the best trading prices.

zkBridge: Connects zkSwap with other blockchain networks for interoperability.

Paymaster: This feature allows users to pay for gas fees with the platform's native token, $ZF, and a multitude of other tokens, instead of ETH.



zkSwap APP

The zkSwap app is a decentralized exchange (DEX) operating on Layer-2, providing a secure platform for managing cryptocurrencies. Users can easily deposit, withdraw, transfer, and swap assets without incurring gas fees, thanks to ZK-Rollups technology. This Layer-2 approach ensures transactions are processed swiftly and cost-effectively, contrasting with traditional DEXs on Ethereum plagued by high gas fees and slower transaction speeds.

The app supports high transaction throughput (TPS), offering a potentially scalable environment with real-time transaction capabilities. Users can list tokens freely and create trading pairs, enhancing liquidity and facilitating a seamless trading experience with features like zero gas fee airdrops and instant payments.



Is zkSwap a Good Exchange for You？

zkSwap is the best exchange for cost-conscious Ethereum traders seeking efficiency. Its focus on liquidity pools (Swap Pools) suggests it prioritizes minimizing slippage. This can be attractive on the Ethereum network, where gas fees can be high. However, it's vital to compare fees with other DEXes before each trade.

Here are 2-3 target groups that might find zkSwap suitable:

• Advanced DeFi users familiar with DEX mechanics: zkSwap serves users comfortable with navigating decentralized exchanges and potentially interested in functionalities beyond just swapping tokens. Features like staking or zkSwap's zkBridge for cross-chain transfers suggest it serves to those who want to explore advanced DeFi options.
• Cost-conscious traders seeking efficiency: While zkSwap uses the Ethereum network, known for potentially high gas fees, its focus on liquidity pools through its Swap Pools service could appeal to traders seeking efficient trade execution. Deep liquidity pools can help minimize slippage, the difference between the expected price and the actual price obtained during a trade. However, it's important to stay informed about current gas fees before trading.

Customer Support

zkSwap offers customer support primarily through Twitter, Telegram, Discord, and online chat services. Users can engage with zkSwap's support team via these platforms to seek assistance, resolve queries, and stay updated on platform developments, ensuring a responsive and accessible support experience for its community.



FAQ

How does zkSwap ensure transaction security？

zkSwap employs multiple security audits by firms like Certik, Vital Block, and Cyberscope to identify and address vulnerabilities in its smart contracts.

What cryptocurrencies can be traded on zkSwap？

zkSwap supports a wide range of cryptocurrencies including WETH, USDT, MAV, HOLD, and others, providing users with extensive trading options.

What are the trading fees on zkSwap？

Trading fees typically range from 0.04% for most pairs to 0.5% for specific tokens like LONG, ensuring cost-effective trading for users.

Is zkSwap regulated？

No, zkSwap operates without regulatory oversight, allowing for flexibility in decentralized finance (DeFi) operations and innovation.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.