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Upside GM 👋 Profile picture
@gm_upside
Apr 27, 2022 • 12 tweets • 7 min read • Read on X
Scrolly
1/ 90+ projects on top of zkSync are running
A token release is inevitable for @zksync since the L2 traction is increasing

A deep-dive thread🧵
#ZKRollups #zkSync @the_matter_labs

2/ What will be covered?

• zkSync and Matter Labs
• zkSync Highlights
• Roadmap & Investors
• The Ecosystem: DeFi, Bridge, Stablecoin, Wallet, etc.
• @zksync Token?
• Future Outlook
3/ zkSync?

@zksync is an L2 scaling solution built by a German-based company @the_matter_labs

It solves the itching trilemma of #Ethereum while maintaining the blockchain’s security. Image
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. Image
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 Image
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 Image
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 Image
8/ zkSync Ecosystem

• TVL $100M+, ranks 7th among L2s
• 90+ projects in the zkSync ecosystem.
• Many Testnets (airdrop?) Image
9/
 • DEX: @1inch, @ZigZagExchange, Mute
• Lending: @iearnfinance, Taker Protocol
• DAO: Olympus, @zkdao_official, Aragon, etc.
• Wallet: 10+ apps
• 12+ Bridges Image
10/ zkSync Token?
A Yes from @zksync Image
11/ Future Outlook

• 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 👀

#zkSync
12/ The longer version of the thread 🧵 ↓
coin98.net/zksync-ecosyst…

• • •

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More from @gm_upside

Upside GM 👋 Profile picture
Mar 3
Vui thôi đừng vui quá, điều mình thấy LẠ về quỹ dự trữ crypto? 😳

Thị trường đã phản ứng tích cực sau khi tổng thống Trump nói về việc thành lập quỹ dự trữ crypto trong đó có ADA, XRP, SOL và các đồng coin khác.

Nhưng một số điều mình vẫn cảm thấy khá lạ như sau:

1/ Sắc lệnh vào 23/01/2025
2/ Phân biệt giữa Reserve và Stockpile
3/ Quỹ dự trữ crypto là hành động có kế hoạch?
4/ Hội nghị crypto
5/ Quỹ dự trữ chỉ làm thị trường hưng phấn ngắn hạn?
6/ Tổng kết (cá nhân)

A Thread 🧵👇Image
1/ Sắc lệnh vào 23/01/2025

Vào ngày 24/01, Tổng thống Hoa Kỳ Donald Trump đã ký sắc lệnh hành pháp đầu tiên liên quan đến tiền mã hóa với mục tiêu thành lập nhóm công tác đặc biệt nhằm đưa Hoa Kỳ dẫn đầu trong lĩnh vực tiền mã hóa.

Trong đó, không hề có bất kỳ từ ngữ nào liên quan đến “Reserve” và chỉ có “Stockpile”.

Tuy nhiên vào đêm qua, bài tweet của Trump lại đề cập đến Reserve.Image
2/ Phân biệt giữa Reserve và Stockpile

Hai từ Reserve và Stockpile này, đọc lướt thì khá giống nhau tuy nhiên nghĩa là hoàn toàn khác.

- Stockpile: Là tài sản kỹ thuật số mà chính phủ có thể thu được thông qua hành động thực thi pháp luật, chẳng hạn như tịch thu từ các vụ án hình sự.

- Reserve: Là kho dự trữ mà chính phủ chủ động mua vào như một phần của chiến lược tài chính hoặc tiền tệ.

Nếu đúng theo EO, Working Group chỉ cân nhắc về đánh giá khả năng tích trữ, không phải thành lập dự trữ chiến lược.

Việc thay đổi thuật ngữ này có thể tạo ấn tượng sai rằng chính phủ Mỹ sẽ mua vào các đồng XRP, SOL, ADA thay vì chỉ xem xét những tài sản có thể bị tịch thu.
Read 8 tweets
Upside GM 👋 Profile picture
Nov 18, 2022
A summary of the Proof of Reserves event's highlights Image
1/ What is proof of reserves (PoR)?

The traditional market carries the potential risk of dubious loans and accepts smaller collateral for loans.
Decentralized finance (DeFi) is a more transparent alternative to smart contracts that require collateral higher than the loan value.
Read 11 tweets
Upside GM 👋 Profile picture
Oct 23, 2022
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?

Not really
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).
Read 13 tweets
Upside GM 👋 Profile picture
Oct 16, 2022
All about Hack until Q4 2022.

Thread Image
1/ What is Hacking/Exploiting?

"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. Image
Read 9 tweets
Upside GM 👋 Profile picture
Oct 1, 2022
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 Image
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. Image
Read 18 tweets
Upside GM 👋 Profile picture
Sep 25, 2022
All about Stablecoin.

Thread Image
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.
Read 15 tweets

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