A glance at 12 DeFi projects in the Polygon zkEVM ecosystem

特邀专栏作者

2023-04-21 08:12

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Except for the projects that have been expanded, most DeFi projects are still in a very early stage, and have little touch in fields such as lending, NFT, Metaverse, and games.

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Except for the projects that have been expanded, most DeFi projects are still in a very early stage, and have little touch in fields such as lending, NFT, Metaverse, and games.

Originally written by Karen, Foresight News

At the end of March, the new product Polygon zkEVM created by Polygon officially released the mainnet Beta version. Polygon zkEVM is a Layer 2 Rollup solution with three main components including Trusted Sequencer, Trusted Aggregator and Consensus Contract deployed on Layer 1.

Among them, the trusted sequencer component is responsible for receiving Layer 2 transactions, sorting and generating batches, and then submitting them to the storage slots of the consensus contract in a sequential manner. When the trusted sequencer executes batch transactions, it will also broadcast the transaction to the Layer 2 network node; the trusted aggregator component calculates the Layer 2 status according to the Layer 2 transaction batch of the sequencer, and obtains the information submitted by the trusted sequencer to Layer 2 batches, and generate zero-knowledge proofs to prove the computational integrity of the batches. The logic of the consensus contract will verify the zero-knowledge proof to prove the correct execution of the transaction batch, so that zkEVM can inherit Layer 1 security.

Foresight News compiled 12 DeFi projects that launched Polygon zkEVM. In more than three weeks since the mainnet was launched, protocols mainly including cross-chain and DEX have been launched. Except for expanded projects, most DeFi projects are still in a very early stage (users are advised to participate cautiously), and in NFT, The metaverse, games, lending and other fields are rarely touched. Considering that Polygon's original ecology is relatively prosperous, more ecological projects will be poured in to build zkEVM.

Bridge / Cross-chain

Celer Network

Currently, Polygon's official bridge only supports bridging from Ethereum to Polygon zkEVM or withdrawal, and supported assets include ETH, MATIC, USDC, USDT, DAI, Aave and other assets. In addition to Polygon's official bridge, cross-chain/multi-chain protocols that support Polygon zkEVM include:

Layerswap

Celer Network announced on April 20 that its cBridge for asset bridging has integrated Polygon zkEVM, initially supporting ETH cross-chain bridging between Polygon zkEVM and Ethereum, Arbitrum, Optimism and BNB Chain, Polygon, Avalanche, and Fantom.

Multichain

LayerSwap aims to help users transfer assets from CEX to Layer 2. Currently, it supports deposit and withdrawal of assets between exchanges and Polygon zkEVM, as well as cross-chain transfers between Polygon zkEVM and other mainstream public chains/networks.

Meson

The cross-chain protocol Multichain already supports cross-chain transfers between Polygon zkEVM and other networks, but as of writing, the size of the capital pool on Polygon zkEVM is only 0.3585 ETH.

Meson is a stablecoin cross-chain transaction protocol that currently supports asset cross-chain transfers on 16 chains/networks, including Ethereum and Polygon zkEVM.

Orbiter Finance

In August 2022, Meson completed a financing of US$4 million, led by GSRV, with participation from BAI Capital, Plug and Play, Mirana Ventures, M 77 Ventures, SNZ, A&T Capital, and Smrti Lab.

rhino.fi

Layer 2 cross-Rollup bridge Orbiter Finance began to support the cross-chain of ETH between Ethereum, Arbitrum, zkSync, Optimism and Polygon zkEVM at the end of March.

DEX/AMM

Quickswap

rhino.fi was originally DeversiFi (previously positioned as a Layer 2 decentralized trading platform). In July 2022, it announced that it would change its name to rhino.fi and transform into a multi-chain DeFi aggregator. Its bridge function has also been launched in early April this year. Support for Polygon zkEVM.

Uniswap

Quickswap is the native DEX protocol on Polygon, and it is also launched on Polygon zkEVM. According to the protocol statistics of 8 Polygon zkEVM launches compiled by DefiLlama, Quickswap's lock-up volume is currently $1.16 million, accounting for 57% of the total Polygon zkEVM lock-up volume.

Antfarm Finance

In mid-April, the on-chain vote for "Launching Uniswap V3 on Polygon zkEVM" has now passed.

Antfarm Finance is a multi-chain DEX pool optimizer, currently listed on Ethereum, Arbitrum and Polygon zkEVM. When creating and joining a liquidity pool on Antfarm Finance, a variety of fee options are provided, including 1%, 10%, 25%, 50% and 100%. If the fee is high, there may be some arbitrage opportunities, but slippage issues also need to be paid attention to .

D 8 X

Antfarm’s utility token, ATF, is used to pay for exchange fees, and in any exchange, 85% is shared by liquidity providers and 15% will be burned. Antfarm also has a governance token, AGT, which allows holders to participate in the decision-making process. The Antfarm official website has not disclosed the background information of the team, and it is recommended to participate cautiously.

D 8 X is an institutional-level decentralized perpetual contract trading agreement on Polygon zkEVM. It has been launched on the Polygon test network. The mortgage asset is USDC or MATIC. The order types provided include market price and current price orders. The AMM in each transaction is Counterparty.

DoveSwap

In terms of fees, D 8 X charges three types of fees, transaction fees are used to maintain project operations, limit orders and liquidation are executed by a third party, so third parties will be paid for certain activities; liquidation fees are 2% of the position size to be liquidated , the liquidator earns 50% of the total liquidation fee, and the other 50% of the fee will be paid to the exchange agreement.

LeetSwap

Launched by Dovish Finance (a fork of Set Protocol), a decentralized strategy treasury management protocol, DoveSwap is a native AMM protocol on Polygon zkEVM. The current total TVL is only $78,000. DoveSwap will announce the launch of the governance token DOV this week. Interested users can check out Token Economics. DoveSwap V3 uses a centralized liquidity method to help users improve capital efficiency. The official website of Dovish Finance has not disclosed the background information of the team, and it is recommended to participate cautiously.

LeetSwap is a DEX protocol built on Canto and Polygon zkEVM. LeetSwap V1 DEX is a project built during the Canto Hackathon in November 2022. The transaction fees for trading pairs in V1 are zero. LeetSwap V2 LeetSwap V2 was built during the Canto hackathon in February 2023. The LeetSwap contract was forked from Solidly and some optimizations were made, such as full support for transfer fee tokens, dynamic transaction fees, and optional protocol fees.

0 VIX

borrow money

0 VIX is a lending protocol on Polygon and Polygon zkEVM that provides a lending market for multiple assets. In addition, deposited assets can be used as collateral, allowing users to borrow other assets, and the interest earned through deposits can offset the accumulated interest rate on borrowing.

According to the official website, 0 VIX currently has a supply of $9.07 million on Polygon PoS with a total borrow of $3.1 million, and a supply of $1.22 million on Polygon zkEVM with a total borrow of $570,000.

https://twitter.com/0 vixProtocol