What Trending Ecosystem Projects Are Worth Focusing on after zkSync’s Issuance?

[TL；DR]

The release of zkSync’s ZK token marks a new wave of enthusiasm, and as a result, we are beginning to focus on eco projects with greater potential returns.

Gate Wallet has long supported popular networks such as zkSync and can serve as an important interactive tool.

We have also seen eco projects such as iZUMi and Satori expressing their willingness to distribute ZK tokens to community users, which may compensate for the disappointment caused by the zkSync (ZK) airdrop to the community.

Introduction

Although the ZK trademark dispute, biased airdrop rules, and the rat trading controversy have propelled zkSync to the forefront, it cannot be denied that there are still some projects worth focusing on in the eco application of zkSync, especially in the infrastructure field. We expect its eco to have huge growth potential.

Matter Labs successfully raised $200 million in November 2022, and their team foresaw four years ago that ZK technology would be the key to the large-scale application of cryptocurrencies. To this end, they launched zkSync Lite (formerly zkSync 1.0) on December 20, 2020. However, due to the lack of EVM functionality, this version has inconvenienced developers regarding usage.

The launch of zkSync Era has attracted much attention because the team has successfully opened up zkEVM (Zero Knowledge Ethereum Virtual Machine), which greatly improves the developers’ usability. As an example of ZK Rollup, zkSync Era has implemented a trustless protocol for scalable and low-cost transactions on Ethereum using crypto validity proof. In addition, zkSync Era also integrates features such as native account abstraction, LLVM compiler, and data compression, further enhancing its scalability.

Since the launch of zkSync Era’s mainnet Alpha version, the on-chain total value locked (TVL) has significantly increased to $774M, with over 2.5 million addresses and a total of 16.32 million transactions in the past 30 days.

In terms of eco construction, zkSync currently covers over 205 Dapps, including DeFi, Wallet, Cross Chain, NFT, and infrastructure. The total TVL of DeFi protocols exceeds $85M, indicating a strong momentum in eco development.

Source: @zkswap_official

Below, we will share some eco applications with potential interaction opportunities below.

Gate Wallet

Currently, most mainstream wallets support the zkSync chain, and Gate Wallet has been supporting popular networks such as zkSync for a long time.

Gate Wallet is a decentralized wallet developed by the Gate.io team, which can provide users with innovative and diversified crypto services such as managing various crypto assets, interacting with decentralized applications, storing non-fungible token (NFT) creation, on-chain identity, and collaborating with communities.

Source: gate.io

The Gate Web3 Wallet has been completely upgraded and launched, and users can download and experience the new version of the wallet function. Participating in the zkSync eco project interaction operation is now more convenient and simple.

Satori

Satori is a decentralized financial derivatives platform. Its order book model collaborates with many market makers to provide comprehensive exposure to a wide range of assets, as well as a “off-chain aggregation and on-chain settlement” design that combines the security and transparency of decentralized exchanges with the speed and availability of centralized exchanges.

Currently, the protocol supports chains such as zkSync, Polygon zkEVM, Linea, Scroll, Base, and X Layer. The total trading volume of the protocol is $37B, with a position of $4M and over 0.6M users.

The protocol has currently received approximately 1.6 million ZKs and has decided to allocate all tokens to community users.

Source: @SatoriFinance

iZUMi Finance

IZUMi Finance is an established multi-chain cross-chain DeFi protocol that provides one-stop liquidity as a service (LaaS) and currently supports 24 chains, including zkSync.

IZUMi has also decided to reassign all received ZK tokens to users. In addition, iZUMi stated that as a staunch supporter since the first day of the ZKsync era, iZUMi believes that @TheZKNation will resolve the airdrop dispute better.

Source: @izumi_Finance

SyncSwap

SyncSwap is a decentralized exchange (DEX) that supports networks such as zkSync, Linea, Scroll, Taiko, etc. It not only inherits the security of Ethereum, but also brings users an easy-to-use, fast, and low-cost DeFi experience with its user-friendly interface and fast and affordable L2 technology.

It supports functions such as custom fee structures, advanced routers, vetoken models, and governance, while having features such as pool gauge, making it a very user-friendly AMM.

The protocol is a relatively active DEX protocol on the zkSync chain with a TVL of $52M. L is in a leading position on zkSync and has not yet issued coins.

Source: syncswap.xyz

zkMarkets：NFT Market

As a leading NFT market based on the zkSync Era zero-knowledge Rollup protocol, zkMarkets is not only a launchpad, but also provides users with an excellent trading experience through a diverse internal NFT series, such as zkEagles designed for zkSync and Scribes launched for Scroll, among other professional tools.

Source: zkmarkets.com

Libra: GameFi Platform

Libra is a comprehensive Web3 gaming platform built on zkSync Era, which brings together a wealth of free and paid gaming resources. Players can easily find their favorite games here and enjoy the fun of competition.

Meanwhile, Libra also provides a one-stop service for game developers and players to meet their various needs in game development, operation, and experience.

Source: kreatorland.com

Karat ID: Web3 Digital Identity

KaratDAO is the crypto native engine of Web3. It provides dual service data markets to help users control their Web2 and Web3 data while receiving rewards. With its decentralized data identity protocol, Karat Network, users can own, control, and manage their data while enjoying the benefits of a licensed and secure data trading platform.

The protocol is currently open for minting IDs and no coins have been issued yet.

Source: karatdao.com

ZkApes: Metaverse

ZkApes is a metaverse project based on zkSync. ZkApes is developing a metaverse called Apavers, where users can trade NFTs (AMMs), play games, and make money in Apavers.

It is worth mentioning that this project pioneered the ERC-6551 standard, providing a powerful set of APIs, SDKs, and tools aimed at completely changing the way NFT account binding is created and extended.

Simply put, the ERC-6551 standard enhances the functionality and value of NFTs by endowing them with smart contract functionality, which can be used as smart contract wallets, etc. This means that ERC-6551 can hold tokens and other NFTs like a regular smart contract wallet.

Source: zkape.io

To Sum Up

Despite the controversy surrounding the zkSync airdrop, eco projects such as iZUMi and Satori have expressed their willingness to distribute ZK tokens to community users. Currently, there are many eco projects worth participating in, which may to some extent make up for the disappointment brought by the zkSync (ZK) airdrop to the community.

Of course, we are happy to believe there will be more high-quality and sincere projects in this eco that will gradually enter the market view and demonstrate the true spirit of sharing and transparent crypto.