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Zk-Swap reviews

Founded 3 years ago in 2021.

Headquartered in Switzerland.

Use anonymously. No KYC required.

Decentralised exchange.

Reviewed by Yunis
27 May 2023 (Updated 16 June 2024)

Zk-Swap Crypto Platform

zk-Swap, Concentrated Liquidity DEX on zkSync, is revolutionizing the trading experience for both traders and liquidity providers. With its focus on enhancing capital efficiency and flexibility, zk-Swap offers attractive APR rewards on Izumi Finance, where ZKSP already boasts the largest farming pool.

zkSwap recently launched on the zkSync ERA mainnet after a long period of preparations. The preparations took long, and the mainnet launch was postponed two times because the platform is Europe based, and the team announced that they want t to comply with the latest regulations in Europe. European Commission passed MiCA laws in May 2023. zkSync network is a leading zkEVM layer2 network that grows fast with a nourishing ecosystem. zkSwap offers a smooth user experience with their easy-to-navigate simple design app. The protocol has a web app only, and anyone can connect with various wallet brands and connect services. The platform has a rich selection of wallet and connect partnerships. Users can connect to the platform by using their Facebook, Twitter, Gmail, and LinkedIn accounts, thanks to their Argent Wallet and Particle Network partnerships.

Even while zk-Swap was on the testnet, its token ZKSP has already gained significant traction, with the largest farming pool on Izumi and a TVL close to $100k. The team and founders are KYC verified, ensuring transparency and accountability, which can be found in the platform's documents.

The team behind zk-Swap is dedicated to expanding and strengthening the platform. Recent announcements of new hires, including a Business Development Manager and Developer, showcase their commitment to growth and development.

zk-Swap sets itself apart from other DEXs on the zkSync ecosystem by addressing the liquidity utilization issue. Unlike the traditional CPMM model used by most DEXs, zk-Swap introduces concentrated liquidity, increasing the utilization rate. By focusing liquidity within particular price ranges, more liquidity is activated and utilized for actual swaps, leading to higher revenue shares for liquidity providers and facilitating asset flow throughout the zkSync ecosystem.

The vision of zk-Swap is to maximize LP benefits and activate liquidity within the ecosystem through concentrated liquidity. By increasing the liquidity utilization rate, more liquidity provided by LPs is effectively utilized, resulting in greater swap fees for LPs. This, in turn, aims to increase the total transaction volume in the zkSync ecosystem, creating a more vibrant and dynamic DeFi landscape.

As an essential element of the DeFi Money Legos, zk-Swap stands at the heart of the zkSync DeFi ecosystem. With its light tokenomics and 100% open-source code, zk-Swap aims to provide a solid foundation for other DeFi protocols to build upon, creating a more stable and interconnected DeFi ecosystem.

Decentralized governance is a key principle of zk-Swap's protocol. The platform aspires to evolve into a DAO structure, operated and governed by the community, ensuring long-term sustainability and inclusivity.

With the future moving towards a multichain universe, zk-Swap aims to serve as a bridge between the Ethereum and other chains, providing concentrated liquidity and facilitating the seamless transfer of assets. Deep liquidity pools enable the active movement of assets between chains, promoting a more interconnected and efficient blockchain ecosystem.

It's worth noting that while zk-Swap draws inspiration from Kyber Swap's concentrated liquidity and swap algorithm, its own security audit is applicable. The team is also exploring additional security audit providers to ensure the highest level of security.

As zk-Swap continues to make progress, we can anticipate its listing on platforms like CoinMarketCap or CoinGecko in the near future. The platform's partnerships, expanding team, and dedication to innovation position zk-Swap as a promising player in the DEX and Ethereum scaling space.

In the next bull run, DEXs and Ethereum scaling projects will be the driving force in the crypto market. With zk-Swap's innovative approach, it is poised to play a pivotal role, providing scalable solutions and empowering users to participate in the decentralized finance revolution. Exciting times lie ahead for zk-Swap and the broader blockchain ecosystem!

Pros

tick Ethereum level security
tick Zk-Sync level fast transactions
tick Bigger TVL compared to same-tier DEXs

Cons

cross Still in testnet

Zk-Swap Staking Yields

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Zk-Swap Supported Currencies

Zk-Swap supports over 3 currencies including Ethereum and Tether USDt.

Zk-Swap Languages

Zk-Swap's supports the following languages: English.

Zk-Swap Key Data

Company
Automatic market maker tick Yes
Year founded 2021
Country incorporated in Switzerland
Headquarters country Switzerland
Decentralised tick Yes
Open source tick Yes
Non-custodial cross No
Products
Savings accounts tick Yes
Loans cross No
Crypto to crypto exchange tick Yes
Fiat to crypto exchange cross No
Pro exchange marketplace cross No
Peer to peer exchange cross No
Margin trading cross No
Corporate accounts cross No
Integrated crypto wallet cross No
Crypto withdrawals to private wallet tick Yes
Fast account verification tick Yes
Futures exchange cross No
DEX aggregator cross No
Chain agnostic cross No
Security
Know your customer cross No
Credit check cross No
Support
24/7 support tick Yes
Email support tick Yes
Phone support cross No
Chat support tick Yes
Investment Strategy
Liquidity pools tick Yes
DeFi products tick Yes
Unsecured loans cross No
Independent proof of reserves tick Yes

AZk-Swap is incorporated in Switzerland, and also have their headquarters in this country.

Useful Links

Zk-Swap Contact Details

https://zk-swap.xyz/

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