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DeFi lending platform Aave launched on the Ethereum layer 2 scaling solution ZKsync Era's mainnet. The partnership between the two entities aims to expand yield-generating opportunities for ZKsync's users.
The latest in blockchain tech upgrades, funding announcements and deals. For the period of Aug. 22-28.
Aave V3 has launched on the ZKSync Era mainnet to unlock liquidity and yield generation for users of the zero-knowledge-powered blockchain ecosystem.
AAVE price has soared 9% after the platform announced the launch of v3 on Era mainnet. This is backed by ZKsync technology and tipped to usher in a new phase of liquidity and yield generation compatibility.
The struggles of ZKsync Era reflect a broader trend in the crypto market, particularly among Layer 2 solutions and recent token launches.
Cronos Labs, a prominent Web3 accelerator firm, has confirmed in an announcement that it is partnering with the engineering team from Matter Labs, a firm specializing in Ethereum Layer 2 scaling solutions, to debut the Cronos zkEVM on the Ethereum mainnet. The Cronos zkEVM is the “first layer-2 ZK chain besides ZKsync Era”.
Cronos Labs has announced the alpha mainnet launch of the Cronos zkEVM, marking the first chain to go live using the ZKsync tech stack alongside the Era chain.
TL;DR The Layer-2 platform ZKsync (ZK) has experienced a significant decline in network activity, with a 66% drop in daily active addresses. The number of daily transactions has decreased considerably, reaching a low of 293,000 on July 23.
The performance of zkSync's native token ZK has also suffered amid these declines.
ZKsync (ZK) has experienced a significant downturn in network activity over the past few months. The Layer-2 (L2)protocol has witnessed a sharp decline in user demand, reaching its lowest point year-to-date.
SOL, ZK and BRETT are our top cryptocurrency picks to watch this week, based on their noteworthy performances over the past seven days.
The price per ZK, the native token of the zkSync Era, an Ethereum Layer 2 (L2) scaling protocol, plummeted to its all-time low of $0.13 on July 5. Although its price has since rallied by 33%, the altcoin remains at risk of shedding these gains.
Social network Lens wants to give users more control over their data and let them profit by sharing it with AI models.
The latest ChainGPT integration with Base chain leverages low-cost, high-speed transactions following its expansions on Solana, and ZKsync.
5thScape, zkSync, and Filecoin are industry-shaking blockchain projects. zkSync improves Ethereum's throughput capabilities using ZK-SNARK roll-up capability. Filecoin is focused on realizing decentralized storage and, specifically, how data is accessed through a blockchain. 5thScape integrates crypto, augmented, and virtual reality into one revolutionary environment.
PancakeSwap announced it will distribute ZK tokens to the community through a reward program. The firm confirmed this in an official blog post.
PancakeSwap's unclaimed ZK tokens will be reallocated to its ecosystem for future development and other community initiatives.
Participants are now able to take advantage of a new community reward program from leading multichain decentralized exchange PancakeSwap, which started July 5 at 10:30 a.m. UTC.
TL;DR PancakeSwap will conduct an airdrop of 2,452,128 zkSync (ZK) tokens from July 5 to August 5, 2024, as a token of appreciation to its community for their continuous support. The DEX has surpassed $3.6 billion in trading volume, reached $5.8 million in TVL, and registered over 1.9 million active traders in the past year.
The airdrop initiative is part of PancakeSwap's broader strategy to enhance user engagement and strengthen its position in the DeFi space.
PancakeSwap, a major decentralized exchange, has unveiled plans to distribute over 2.4 million zkSync (ZK) tokens to its community. This significant airdrop comes at a sensitive time for the zkSync ecosystem, coinciding with recent allegations against Matter Labs, zkSync's developer.
ZkSync confirms: some minters took part in the official events, but there is no internal involvement in the creation of the NFTs
Matter Labs stated that its employees were not eligible for the ZK airdrop and did not hand out NFTs to friends or other insiders.
TL;DR ZKsync has launched its 3.0 version along with the “Elastic Chain,” a crucial upgrade to enhance Ethereum's interoperability and efficiency. The “Elastic Chain” aims to solve liquidity fragmentation issues and user complexity in Ethereum scaling solutions. More than 20 new ZK Stack chains are scheduled to launch in 2024.
