SINGAPORE, Aug. 17, 2021 /PRNewswire/ — Announced August 17th, Leading Layer2 DEX protocol ZKSwap has jointly announced a strategic partnership with SofaSwap. The two parties will jointly explore solutions in the DeFi sector and Layer 2 technology to promote the innovation and development of DEX projects.
ZKSwap is a new-gen decentralized swap instrument on Layer 2, along with SofaSwap, a decentralized coin-margined futures trading protocol, two parties aim to jointly work out new business product forms and market promotional campaigns through the strategic cooperation.
ZKSwap is a token Swap protocol based on Automated Market Maker (AMM). Through ZK-Rollup technology, the full set of uniswap functions are realized in Layer-2, while providing unlimited scalability and privacy.
ZKSwap realizes 0 gas fee transfer and transaction on the layer-2 network based on the ZKSwap-Rollups technology.
With the newly launched V2, the time required for interaction between Layer 1 and Layer 2 was never so negligible; this is crucial to the trading experience. This feature reduces slippage and ensures the timely execution of orders.
Every user can list his/her layer1 based token on ZKSwap’s trading spot. This massively increases the volume of liquidity available on the platform and democratizes token offerings for early-stage projects.
SofaSwap is a decentralized coin-margined futures trading protocol that consists of three roles: the positive Trader (high income with high risk ), the passive market Maker (medium income with medium risk) and the Farmer (low income with 0 risk), who stakes tokens to provide liquidity. SofaSwap proposed the concept of “Earning Tokens in Bear Market” to solve the lock-in problem of locked tokens.
SofaSwap aims to solve the rigid demand for hedging and increase the value of low-liquidity token held by users when the bear market comes. Meanwhile, arbitrary tokens on the three chains ETH, HECO and BSC can be locked up for mining, or mortgage transactions, to meet the majority of users who are trapped in the asset demand for transactions. In the future, more public chain transactions will be opened, and more kinds of tokens will be compatible.