It solves the itching trilemma of #Ethereum while maintaining the blockchain’s security.
4/ Builders behind zkSync, Matter Labs
Founded in 2019 in Berlin, Germany.
@the_matter_labs released their first product, zkSync, in Summer 2020.
After 3 years of development, the company launched an EVM-compatible testnet of zkSync.
5/ zkSync Highlights
• L1 to L2 bridging takes <10 minutes, 30x-100x cheaper fee
• Matter Labs raised $258M from high-profile investors
• Transaction fee is around $0.1
• TVL: $100M+ (used to x2 in a week)
• TX fee: $0.08
6/ Roadmap w/ concrete goals
• 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
7/ Matter Labs' funding
• September 2019: $2M from Hashed, Dragonfly Capital, etc.
• February 2021: $6M from Binance, Coinbase Ventures, etc.
• November 2021: $50M from a16z, etc.
• January 2022: a $200M DAO to fund projects on @zksync
8/ zkSync Ecosystem
• TVL $100M+, ranks 7th among L2s
• 90+ projects in the zkSync ecosystem.
• Many Testnets (airdrop?)
• More adoption from top-tier protocols via zkEVM
• zkSync ecosystem will explode in 2022-2023 if it goes mainnet.
• The L2 race begins
➔Lots of underlying opportunities in zkSync 👀
2022 is not over yet, but the hack/exploit value data that we composed in the link below is already massive. Then where is Insurance standing in this market? Are projects developing ways to prevent hacks?
1/ According to @DefiLlama, the Insurance TVL is currently about $450M. However, the 4 biggest projects already account for 90% of it. This shows that there’s not much competition here.
2/ In addition, when comparing the Insurance TVL with the total value hacked, the dominance is clearly on the hacked side (by approx. 14 times).
"Hack" (or "Exploit") is used to describe the behavior of unscrupulous actors that take advantage of smart contract flaws and vulnerabilities for their own gain. These attacks are usually difficult to detect until the consequences have occurred.
2/ The total amount of money lost is divided by different arrays
The majority of crypto breaches occur on centralized exchanges, bridges, and other DeFi tools (Lending/Borrowing, Yield Aggregator,...). Besides, an issue preventing the broad growth of DeFi is security flaws.
Incentives are what projects use to attract users. They are used not only at launch, but also for as long as possible if there is no other solution.
Below are 5 common incentive methods since 2020:
1⃣ Liquidity Mining
2⃣ Retroactive
3⃣veToken & Gauge
4⃣Bonding
5⃣P2E
1⃣ Liquidity Mining (LM)
Liquidity Mining is a term used to describe projects rewarding users with their token. This is common in lending & dex projects.
In lending, users are incentivized to borrow or lend. In DEXs, they are incentivized to supply liquidity and stake LP token.
LM was first used by IDEX; however, it became widely popular thanks to @compoundfinance (Jun 2020). At that time, $COMP was used to reward both lenders & borrowers. Let’s see how LM affected Compound’s revenue.
1/ What is Stablecoin?
The word Stablecoin is combined by “Stable” and “Coin”.
“Stable” in Stable Assets: Assets that have a high stability along with a low price volatility, compared to other assets in the market. They can be Fiat-currencies like USD, EUR,...
“Coin” represents the cryptocurrency market: Assets that is digitalized and tokenized as coins.
Highlights of AMA @coin98_labs session on the topic “WHY $CUSD? WHY NOW?”
1/ What is $CUSD?
- $CUSD is a fully-backed stablecoin that aims to become a cross-chain unit of account that fulfills the demand for cross-chain liquidity in DeFi.
- With $BUSD and $USDC, $CUSD is a 1:1 converted/redeemable stablecoin.
- Stablecoin growth will boost Coin98 ecosystem as they serve a similar role to Cross-chain.
- Help users to transfer funds across blockchains easily.
- Ensure Coin98's products get the most value from its application layers and DeFi users.