{"id":451083,"date":"2021-03-04T12:47:07","date_gmt":"2021-03-04T17:47:07","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451083"},"modified":"2021-03-04T12:47:07","modified_gmt":"2021-03-04T17:47:07","slug":"zkswap-launches-mining-events-with-20-million-prize-pool-publishes-2021-roadmap","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/zkswap-launches-mining-events-with-20-million-prize-pool-publishes-2021-roadmap\/","title":{"rendered":"ZKSwap Launches Mining Events with $20+ Million Prize Pool, Publishes 2021 Roadmap"},"content":{"rendered":"

\nZKSwap solves Ethereum\u2019s high gas fees and low throughput to improve the DEX user experience and help DeFi applications scale
\n<\/h2>\n
\n

SINGAPORE, March 04, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire<\/a>) –\u00a0ZKSwap<\/a> (https:\/\/zks.org\/en<\/a>), the first AMM-modeled Layer 2 decentralized exchange based on the ZKSpeed protocol, today announced its official 2021 roadmap and the launch of its Proof-of-Liquidity (PoL) and Proof-of-TransFee (PoT) mining events with a total prize pool worth more than $20 million. ZKSwap\u2019s rapidly growing community will be able to reap profits from their support and gain a clear understanding of the company\u2019s strategy for the year. ZKSwap\u2019s full 2021 roadmap can be found here<\/a>.\u00a0<\/p>\n

With the rise of DeFi, the Ethereum network has become expensive and congested. ZKSwap offers a solution to Ethereum\u2019s high gas fees and low throughput to improve the DEX user experience and help DeFi applications scale. Since its mainnet launch last month, ZKSwap currently has over $60 million in liquidity and $161 million total value locked<\/a>.\u00a0<\/p>\n

\u201cAt ZKSwap, our goal is to provide transparency throughout our technical progress and involve the community in ZKSwap\u2019s network growth. Since we launched our mainnet earlier this year, we\u2019ve been working diligently to roll out our mining events and updated roadmap. We\u2019re excited to share these and look forward to the community\u2019s feedback and continued involvement,\u201d said Alex Lee, Head of Development of ZKSwap.<\/p>\n

ZKSwap will officially launch the Proof-of-Liquidity mining (PoL) and Proof-of-TransFee (PoT) mining events on March 6 at 18:00 (GMT+8). The first phase of these events will last 14 days with 8 million ZKS mining rewards allocated for PoL and 1 million ZKS allocated for PoT. The first phase of PoL mining will launch with six trading pairs: ZKS\/ETH, USDC\/USDT, ZKS\/USDT, ETH\/WBTC, ETH\/USDT, HBTC\/WBTC. For PoT, mining will be for USDT\/USDC.<\/p>\n

A detailed mining tutorial will be released on ZKSwap\u2019s official website<\/a> before the event starts. Additional rewards and trading pairs may be added according to the event status.<\/p>\n

ZKSwap\u2019s roadmap for 2021 is also now available on the company\u2019s Medium blog<\/a>. The roadmap details ZKSwap V2 and includes the target date to launch a separate 100% full ZK-rollup version with both L1 and L2 data on chain to further enhance platform security.<\/p>\n

ZKSwap uses ZKSpeed to achieve high TPS and low gas fees by aggregating multiple zero-knowledge proofs, parallel processing of the PLONK algorithm, and categorization of off-chain data. It also enables GPU-compatible algorithms for higher efficiency.<\/p>\n

Backed by a $1.7 million investment, ZKSwap launched its mainnet in February 2021. Prior to launch ZKSwap successfully passed security audits<\/a> by ABDK, Certik, and SlowMist.\u00a0<\/p>\n

\n ABOUT ZKSWAP<\/strong>
\n
\n ZKSwap<\/a> (https:\/\/zks.org\/en<\/a>) is a decentralized exchange protocol based on ZKSpeed, a Practical ZK-Rollups Solution. Developed by L2Lab, ZKSwap offers a solution to Ethereum\u2019s high transaction fees and low throughput to improve the DEX user experience and help DeFi applications scale. The project is backed by Bixin Capital, SNZ Capital, FBG Capital, and Longling Capital, and fully audited by ABDK, Certik, and SlowMist.<\/p>\n


\n
\n \n <\/div>\n

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MEDIA CONTACT: Transform Group, zkswap@transformgroup.com \r\n\r\nCOMPANY CONTACT: bd@zks.org <\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
ZKSwap solves Ethereum\u2019s high gas fees and low throughput to improve the DEX user experience and help DeFi applications scale SINGAPORE, March 04, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire) –\u00a0ZKSwap (https:\/\/zks.org\/en), the first AMM-modeled Layer 2 decentralized exchange based on the ZKSpeed protocol, today announced its official 2021 roadmap and the launch of its Proof-of-Liquidity (PoL) and Proof-of-TransFee (PoT) mining events with a total prize pool worth more than $20 million. ZKSwap\u2019s rapidly growing community will be able to reap profits from their support and gain a clear understanding of the company\u2019s strategy for the year. ZKSwap\u2019s full 2021 roadmap can be found here.\u00a0 With the rise of DeFi, the Ethereum network has become expensive and congested. ZKSwap offers … <\/p>\n
Continue reading “ZKSwap Launches Mining Events with $20+ Million Prize Pool, Publishes 2021 Roadmap”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-451083","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nZKSwap Launches Mining Events with $20+ Million Prize Pool, Publishes 2021 Roadmap - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/zkswap-launches-mining-events-with-20-million-prize-pool-publishes-2021-roadmap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ZKSwap Launches Mining Events with $20+ Million Prize Pool, Publishes 2021 Roadmap - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ZKSwap solves Ethereum\u2019s high gas fees and low throughput to improve the DEX user experience and help DeFi applications scale SINGAPORE, March 04, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire) –\u00a0ZKSwap (https:\/\/zks.org\/en), the first AMM-modeled Layer 2 decentralized exchange based on the ZKSpeed protocol, today announced its official 2021 roadmap and the launch of its Proof-of-Liquidity (PoL) and Proof-of-TransFee (PoT) mining events with a total prize pool worth more than $20 million. ZKSwap\u2019s rapidly growing community will be able to reap profits from their support and gain a clear understanding of the company\u2019s strategy for the year. ZKSwap\u2019s full 2021 roadmap can be found here.\u00a0 With the rise of DeFi, the Ethereum network has become expensive and congested. 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