Inventory of the top ten DeFi projects in zkSync Era's ecological TVL: SyncSwap accounts for more than 40%
Originally written by Peng SUN, Foresight News
Originally written by Peng SUN, Foresight News
Since the launch of the zkSync Era mainnet on March 24, the total lock-up volume of the zkSync Era mainnet has exceeded 160 million US dollars, double that of two months ago. At present, in addition to some zkSync native protocols, other DeFi protocols in the ecosystem have also begun to support the zkSync Era mainnet. At the same time, since the previous Arbitrum airdrop made users have great expectations for the zkSync airdrop, more and more users are participating in the zkSync ecology.
SyncSwap
SyncSwapIt is the largest DEX on zkSync Era. It was launched on March 25. After more than two months, the total locked position has reached 67.42 million US dollars, accounting for 41.89% of zkSync Era TVL, and the increase in the past 7 days is 12.52%. SyncSwap supports transactions and adding liquidity, etc. At present, funds are mainly concentrated in the USDC/ETH pool, with a TVL of 57.77 million US dollars. Currently, SyncSwap also supports the zkSync Era testnet, Scroll Alpha testnet, and Polygon zkEVM testnet, and users can apply for ETH test coins on its website.
Recently, SyncSwap launched Move, a cross-chain bridge based on the official zkSync Era bridge, which allows transfers between Ethereum and zkSync Era, and supports USDC, ETH, USDT, WBTC, LUSD, LSD, MUTE and other assets. In fact, Move can be understood as the third-party front-end of the zkSync Era official bridge, which has the same gas cost as the zkSync official bridge, and the bridge token is 100% zkSync native assets, with no third-party risk. When users approve or transfer funds with Move, they interact directly with the official zkSync smart contract.
Recently, SyncSwap launched Move, a cross-chain bridge based on the official zkSync Era bridge, which allows transfers between Ethereum and zkSync Era, and supports USDC, ETH, USDT, WBTC, LUSD, LSD, MUTE and other assets. In fact, Move can be understood as the third-party front-end of the zkSync Era official bridge, which has the same gas cost as the zkSync official bridge, and the bridge token is 100% zkSync native assets, with no third-party risk. When users approve or transfer funds with Move, they interact directly with the official zkSync smart contract.
iZiSwap
iZiSwapIn addition, SyncSwap tweeted on April 6 that it will launch the token SYNC, which has not yet been created.
It is an on-chain order book DEX launched by iZUMi Finance, a one-stop liquidity-as-a-service DeFi protocol, on zkSync Era, and launched on the zkSync Era mainnet on April 16. iZiSwap currently ranks second with a TVL of $26.74 million on the zkSync Era.
Mute.io
Mute.ioiZiSwap uses iZUMi's discrete liquidity AMM (DL-AMM), which is similar to Uniswap V3's centralized liquidity. DL-AMM can allocate liquidity at any fixed price to improve capital efficiency. After users pledge DL-AMM LP tokens to the iZUMi protocol, they can obtain incentives within the corresponding range. Currently, iZiSwap has launched liquidity incentives on zkSync Era, supporting seven liquidity pools including WETH/RF, WETH/ZKSP, USDC/DEXTF, SAPCE/WETH, LSD/WETH, USDC/BLADE, and USDC/OT.
It is a zkRollup-based DEX on Ethereum and zkSync Era, including modules such as price limit orders, pledge platforms, and bond platforms. The zkSync 2.0 Goerli testnet was launched in July last year, and the zkSync Era mainnet was launched on March 24 this year. Mute.io ranked third with a TVL of $19.41 million on the zkSync Era, an increase of 13.08% in the past 7 days.
Velocore
VelocoreIt is the first ve( 3, 3) DEX based on Velodrome Finance and Solidly codebase in zkSync Era. Velocore ranked fourth with a TVL of $13.35 million on the zkSync Era, a drop of 14.2% in the past 7 days.
The core function of Velocore is to allow users to trade digital assets at low cost and low slippage. Users can add liquidity to the LP pool (divided into Stable Pool and Volatile Pool), and use LP tokens to obtain VC token incentives. VC is the native token of Velocore. VC holders can vote for escrow tokens and exchange for the governance token veVC (veNFT). veVC can be transferred, merged and split. The VC lock-up period can be up to 4 years. The longer the release time, the higher the voting weight and rewards veVC holders will receive. veVC holders can also obtain agreement fees, bribes and kickbacks. Bribes can be used to encourage other users to vote for LP pool rewards. Velocore also has Launchpad and launched memecoin WAIFU.
SpaceFi
SpaceFiThe core function of Velocore is to allow users to trade digital assets at low cost and low slippage. Users can add liquidity to the LP pool (divided into Stable Pool and Volatile Pool), and use LP tokens to obtain VC token incentives. VC is the native token of Velocore. VC holders can vote for escrow tokens and exchange for the governance token veVC (veNFT). veVC can be transferred, merged and split. The VC lock-up period can be up to 4 years. The longer the release time, the higher the voting weight and rewards veVC holders will receive. veVC holders can also obtain agreement fees, bribes and kickbacks. Bribes can be used to encourage other users to vote for LP pool rewards. Velocore also has Launchpad and launched memecoin WAIFU.
It is a cross-chain Web3.0 platform, and its products include DEX, NFT, Starter, Spacebase, and there will be new products such as Game and Social Network in the future. SpaceFi launched the zkSync Era mainnet on March 24, and will be the first to connect Evmos in Cosmos to zkSync in Ethereum. In the future, SpaceFi will also be deployed on other EVMs such as Celo. SpaceFi's TVL on the zkSync Era was $7 million, ranking fifth, with an increase of 13.26% in the past 7 days.
EraLend
EraLendSpaceFi's native token is SPACE. In early May, the community plans to reduce the maximum supply of SPACE from 600 million to 100 million and destroy the initial supply of 40 million. At present, the total market value of SPACE is about 1.47 million US dollars. xSPACE is a governance token that can be obtained through farming or exchange. SpaceFi supports ETH, USDC, SPACE, WETH tokens for trading and adding liquidity. Users can pledge single currency such as xSPACE and LP tokens such as SPACE-USDC to participate in mining in the Space Farm to obtain xSPACE rewards. Starter is Space's incubation and fundraising platform. Users can pledge LP tokens such as USDT, ETH, or SPACE-USDC to obtain a share of project tokens at the initial issue price. Spacebase is an on-chain community of Space. By creating or joining Spacebase, users can get more mining rewards. Planet NFT is minted by SPACE tokens, NFT holders can issue on-chain proposals, and both Planet NFT holders and xSPACE holders can participate in governance voting.
is a decentralized lending protocol on zkSync Era, formerly known as Nexon Finance, designed to maximize capital efficiency while minimizing risks associated with reliance on external liquidity and oracles. EraLend's TVL on zkSync Era is about 5 million US dollars, an increase of over 33% in the past 7 days.
veSync
veSyncIt is also the ve( 3, 3) DEX on zkSync Era, which is also a branch of Velodrome Finance. veSync's TVL on the zkSync Era is approximately US$4.85 million, ranking seventh, with an increase of nearly 20% in the past 7 days.
The native token of veSync is VS, and the governance token is veVS (veNFT). veVS can be transferred, merged and split. veSync leverages the ve(3, 3) incentive model, token holders can vote to escrow their tokens to receive veNFTs, longer vesting periods lead to greater voting rights and rewards. There are two types of veSync liquidity pools, Stable Pools and Volatile Pools, with transaction fees ranging from 0.02% to 0.05%. In the future, veSync will launch Concentrated Pools, allowing users to customize the range of liquidity provided. Users choose specific pools to vote and receive bribes.
ReactorFusion
ReactorFusionThe native token of veSync is VS, and the governance token is veVS (veNFT). veVS can be transferred, merged and split. veSync leverages the ve(3, 3) incentive model, token holders can vote to escrow their tokens to receive veNFTs, longer vesting periods lead to greater voting rights and rewards. There are two types of veSync liquidity pools, Stable Pools and Volatile Pools, with transaction fees ranging from 0.02% to 0.05%. In the future, veSync will launch Concentrated Pools, allowing users to customize the range of liquidity provided. Users choose specific pools to vote and receive bribes.
It is a decentralized, non-custodial peer-to-peer lending market on zkSync Era. It uses a code base based on Compound Finance and can be integrated with ve( 3, 3) DEX. Currently, ReactorFusion's TVL on the zkSync Era is about $4.79 million, an increase of 9.67% in the past 7 days.
Compared with Compound Finance, ReactorFusion uses compound interest calculations per second to reduce Gas fees and increase predictability. ReactorFusion implements the collateral and reserve mechanism implemented by Compound Finance, and supports ETH and USDC as collateral. The mortgage factor is the maximum value that a user can borrow for a specific asset. Currently, the mortgage factor is 70% for ETH and 80% for USDC.
Maverick Protocol
Maverick Protocolis a DeFi liquidity infrastructure designed to provide a liquid market for traders, liquidity providers, DAO funds, and developers, powered by Maverick AMM. Maverick Protocol announced the launch of zkSync Era on April 18. The current TVL is about 3.52 million US dollars, an increase of 12.01% in the past 7 days.
Users can trade and provide liquidity on Maverick AMM. There are 4 different types of liquidity modes: Mode Right, Mode Left, Mode Both and Mode Static, after choosing a mode, the AMM will automatically move its liquidity to follow the price according to a specific set of rules. Maverick Protocol allows LPs to open Boosted positions, use incentive rewards to accurately attract liquidity, and other users can add liquidity to Boosted positions to purchase shares. LP can obtain income from transaction fees and LP incentives.
Users can trade and provide liquidity on Maverick AMM. There are 4 different types of liquidity modes: Mode Right, Mode Left, Mode Both and Mode Static, after choosing a mode, the AMM will automatically move its liquidity to follow the price according to a specific set of rules. Maverick Protocol allows LPs to open Boosted positions, use incentive rewards to accurately attract liquidity, and other users can add liquidity to Boosted positions to purchase shares. LP can obtain income from transaction fees and LP incentives.
Overnight USD+
Overnight USD+In February 2022, Maverick Protocol completed an $8 million financing round led by Pantera Capital, with participation from Jump Crypto, Circle, Spartan Group, Gemini Frontier Fund, GoldenTree Asset Management, CMT Digital, and the Tron Foundation.
It is a stablecoin protocol anchored to USDC 1: 1 launched by Overnight, a DeFi protocol focusing on delta-neutral strategies. It can make profits through rebase every day, and now supports zkSync Era. Overnight DAI+, USDT+, ETS (medium risk), Insurance (high risk) and other products have not yet supported zkSync Era. Currently, the TVL of Overnight USD+ on the zkSync Era is about 2.11 million USD, an increase of 17.18% in the past 7 days.
