zkSwap is now live on the zkSync 2.0 Goeril testnet, and they announced the zkSwap Testnet Campaign.
zkSwap is a concentrated liquidity protocol built on the zkSync Era blockchain that is characterized by maximizing the utilization of capital with higher market depth and lower price slippage.
What is zkSwap?
zkSwap is an Automated Market Maker (AMM) that provides traders with greater control over the price ranges they provide liquidity to, enabling a more efficient trading experience. It leverages concentrated liquidity to improve capital efficiency and offers flexible fee structures, auto-compounding fees, and farming rewards.
Concentrated Liquidity
Traditional AMMs use a constant product formula (CFMM), distributing liquidity across the entire price range. However, providing liquidity to ranges with minimal price action is not the best use of capital. Concentrated liquidity allows liquidity providers (LPs) to focus their liquidity around custom ranges, increasing capital efficiency.
Read this article to know more about ZKswap.
Steps to Join Airdrop
Community members who finishes all 3 testing steps will be granted an honorable Early Supporter role. Before participating in testing the zkSwap testnet join in their Discord community.
- Claim Testnet Ethereum for zkSync Era Testnet from the faucet. Click here for Detailed guide on how to obtain testnet Ethereum.
- Trade a few times, with different swap settings and fee tokens. Go to https://app.zk-swap.xyz/swap
- Go to Swap section
- Wrap a small amount of ETH to wETH
- Swap some ETH for zkUSDT zkUSDC & zkDAI
- Try adding some liquidity with a few pairs. Go to EARN section and choose POOLS
- Select ETH-zkUSDT pair (+)
- PASSIVE mode ( or another if you want )
- Set an amount of wETH-zkUSDT to deposit
- Approve each & deposit your liquidity
- You can repeat with ETH-zkUSDC & ETH-zkDAI pairs
- Take a screenshot of your My Pools page that shows your liquidity positions.
- Post a tweet to share the success of your testing, including:
- The news and link of the zkSwap testnet and testing campaign, you can reference our Medium article or retweet our announcing tweet 📰
- An Invitation link to join our Discord community 🔗
- A short slogan to introduce zkSwap or your opinion of the potential/idea of zkSwap.
- A few tags that are related, for example, #L2season #zkSwap #zkSync #Layer2 #ZKRollup #testnet #Ethereum #DeFi 🏷️
- Remember to embed a picture of your success or a poster of zkSwap
- Post in their Discord testnet channel (#testnet-feedback) including:
- The wallet address that participates in the testing.
- The link to your tweet that shares the testing.
- The screenshots you took before.
- At least 1transaction hash: e.g. trading, adding liquidity, and removing the liquidity
Complete tasks at https://zealy.io/c/zk-swap and get Early Supporter Roles on Discord.
Official Links
DYOR before investing or participating in any crypto project. Always double check before connecting to any dapp or signing metamask transactions. You are only responsible for your gains or losses.
