1inch launches protocols on zkSync Era
DeFi protocol aggregator 1 inch network rolls out zkSync Era One Inch Aggregation Protocol and One Inch Limit Order Protocol — Ethereum Layer 2 Network.
1 Inch users will be able to access services on the new blockchain network starting April 20th.
Additionally, with the launch, DeFi protocols such as GemSwap, SpaceFi, SyncSwap and Mute will also be available on the zkSync Era network via 1 inch.
1inch Network co-founder Sergej Kunz said:
“zkSync Era is a very promising L2 solution and we are pleased to be one of the first projects to deploy it in that network. You will benefit from the transaction.”
The zkSync era
zkSync Era is a layer 2 blockchain that uses a zero-knowledge technique called zk-rollups to make transactions possible on the Ethereum network by moving computation and state storage to the layer 2 network instead of handling them at layer 1. essentially increase the number of mainnet.
The network handles the transaction itself, sending a zero-knowledge-based “rollup” of the aggregated data to the Ethereum mainnet to reduce the burden on the network. As a result, the entire transaction is fast and cheap.
Matter Labs developed the zkSync Era layer 2 network and officially launched its mainnet on March 24th. The project has been in development for years and was launched in stages.
Since then, the network has experienced significant growth, with over $200 million in total locked.
Matter Labs CEO and co-founder Alex Gluchowski said:
“DeFi has been the engine of zkSync Era’s explosive growth, with TVL surpassing $200 million migrated to the protocol in just three weeks. I am looking forward to
The zkSync-era one-inch launch protocol post first appeared on CryptoSlate.