Symbiosis and zkSync: A Match Made in DeFi Heaven
Cross-chain automated market maker, Symbiosis, has officially cozied up with the layer-2 scaling protocol zkSync. This collaboration aims to elevate the token swapping experience by turbocharging speeds and slashing fees.
What is Symbiosis?
Launched in March 2022, Symbiosis is like the popular kid in school—everyone wants to trade with it! This decentralized exchange (DEX) offers interesting features including:
- Single-sided stablecoin pools—no more worrying about impermanent loss.
- Any-to-any native asset swaps supporting EVM and non-EVM networks.
Accessibility is Key
Nick Avramov, the co-founder of Symbiosis, put it perfectly when he stated that the integration with zkSync allows seamless, one-click swaps across various blockchains, including:
- Ethereum
- Polygon
- Avalanche
- BNB Chain
- Telos
Say goodbye to the annoyance of juggling different wallets and interfaces—this integration aims to make liquidity transitions both secure and cheap.
Why Layer-2s Matter
According to Avramov, layer-2 scaling solutions are vital for the growth of decentralized finance (DeFi). He mentioned that:
“Scaling layers like Optimistic and ZK-rollups are extremely important for the next big wave in Web3.”
By reducing entry barriers in terms of cost and user experience, zkSync and similar protocols could simplify things immensely for everyday users.
The Future is Rolling Out
The integration of zkSync represents an important milestone for Symbiosis, especially considering their impressive statistics:
- Total transaction volume: $100 million
- Unique wallet addresses served: 12,000+
- Average daily transactions: 3,000
And they’re not the only ones! Ethereum’s layer-2s, such as Polygon’s zkEVM, are making waves by providing developers with tools necessary for faster and cheaper transactions.
Even outside Ethereum, zero-knowledge proof technology is evolving rapidly—take note of the ZeroSync Association working on boosting Bitcoin transactions!
