Thread by @TrachChung

zkSync is scaling at WARP SPEED in 2022

Let's deep dive into @zksync and its fast-moving ecosystem

A thread🧵
1/
#ZKRollups #zkSync @the_matter_labs

https://twitter.com/Coin98Analytics/status/1508228658410160130?s=20&t=Z4Cxo3FLWeLxpw8d-KdeQA

2/ What will be covered
• What is zkSync?
• Matter Labs
• zkEVM, zkPorter, zkSync 2.0
• zkSync Highlights
• Impressive numbers
• Roadmap
• Who invested in zkSync?
• zkSync Ecosystem
• DeFi, Bridge
• Stablecoin, Wallet, NFT
• zkSync Token?
• Future Outlook

3/ zkSync Introduction

zkSync is an L2 scaling solution built by a German-based company Matter Labs.

It solves the itching trilemma of Ethereum while maintaining security.

4/ Builders behind zkSync
@the_matter_labs was founded in 2019 in Berlin, Germany.

It released the first product, zkSync, in the Summer of 2020.

After 3 years of development, the company launched an EVM-compatible testnet of zkSync.

5/ zkSync modules
• zkEVM empowers zkSync to welcome Dapps written in Solidity into the ecosystem
• zkPorter is an interoperable part for executing data off-chain with low TX fees

Switchable between
zkRollup (on-chain for higher security)
zkPort (off-chain for lower TX fees)

6/ zkSync 2.0 released Testnet in February 2022, allowing developers to build Dapps on top of zkSync.

• Fiat On/Off Ramps
• Bridges
• Oracles
• Wallets
• Tools, Explorers, Voting, Search Engine.
• …

7/ zkSync Highlights
• L1 to L2 bridging takes <10 minutes, 30x-100x cheaper fee
• Matter Labs raised $258M from high-profile investors
• zkRollup executes data on-chain
• Transaction fee is around $0.1
@zksync

8/ Impressive numbers
• Activation fee: $2.75 (one time)
• TX fee: $0.08
• NFT Minting fee: $0.23
• TVL: $141M (x2 in a week)
zkscan.io
l2fees.info
for the latest stats

9/ Roadmap w/ many milestones

• December 2019: ZK Sync v0.1 Testnet
• June 2020: Mainnet version of zkSync
• August 2020: zkSync 1.1
• May 2021: zkSync version 1.x
• June 2021: zkEVM Testnet.
• February 2022: zkSync 2.0 Public Testnet

10/ Matter Labs raised a quarter billion
• September 2019: $2M from Hashed, Dragonfly Capital, etc.
• February 2021: $6M from Binance, Coinbase Ventures, etc.
• November 2021: $50M from a16z, etc.
• January 2022: $200M from BitDAO via zkDAO

11/ zkSync Ecosystem
• TVL $148M (x2 in a week) ranks 7th among L2s
• 74+ projects in the zkSync ecosystem. Only up
• Many Testnet (airdrop?)

@zksync

12/ DEX, the first lego part
• @1inch is about to integrate zkSync (unofficial)
• @mute_io Testnet in February 2022
• @ZigZagExchange , mainnet, order book-based DEX w/ a 7-figure trading volume in a day

13/ Lending/Borrowing
• @iearnfinance will be on zkSync sooner or later.
• @TakerProtocol allows users to collateralize everything.

DAO
@OlympusDAO, @zkdao_official, Aragon, Trustless,... join @zksync too early, but the outlook is still positive

14/ Extraordinary bridges on @zksync
• zkSync bridge has $52M in TVL, ranking 12th
• 12 bridges on zkSync > 4+ bridges on Starknet

15/ Stablecoin
USDT, USDC, UST, DAI, FRAX, TUSD are on zkSync
However, it’s hard to track the stablecoin supply on zkSync rn

@zkstarter is the first launchpad on @zksync

16/ Wallet and NFT on @zksync
• 10 wallets support zkSync, 4/10 went live
• 14 NFT Marketplaces

17/ zkSync Token?
A Yes from @zksync

18/ Future Outlook
• More adoption from top-tier protocols via zkEVM
• zkSync ecosystem will explode in 2022-2023 if it goes mainnet.
• zkSync vs. Starknet? The zkRollup battle begins

Lots of opportunities are underlying zkSync
#zkSync #Layer2

19/ Check out a longer version of the thread

Kudos to @Coin98Insights
coin98.net/zksync-ecosyst…

20/ Last but not least

https://twitter.com/Viet_Coin98/status/1504658201564033027?s=20&t=SZTRLU-O2CXkmU8TMVC3iQ