Automated cross-chain marker maker Symbiosis has incorporated the Layer 2 scaling protocol zkSync to improve the speed and reduce fees of token swaps on its platform.
The decentralized exchange (DEX) was launched in March 2022. provides one-sided stablecoin pools that deliver zero impermanent losses to liquid providers. It also facilitates native 'any-to-any' asset exchanges on its platform via Ethereum Virtual Machine (EVM) and non-EVM networks.
Nick Avramov, co-founder of Symbiosis, told Cointelegraph that the zkSync integration will provide one-click exchanges from Ethereum, Polygon, Avalanche, BNB, Telos, and other blockchains to zkSync and vice versa.
The added functionality also removes the need for users to switch between different wallets and interfaces. Avramov also confirmed that the integration improves the variety of token trades through his DEX, supporting native any-to-any trades to and from zkSync.
Related: ConsenSys zkEVM set up for public testnet to offer secure deals on Ethereum
The zkSync integration also aims to make the transition of liquidity to and from zkSync “safe, fast and cheap”, while Avramov also highlighted the importance of Layer 2 scaling protocols for various DeFi platforms and services.
“Scalable layers like Optimistic and ZK rollups are extremely important for the next big wave in Web3, mainly because they are lowering the barriers to entry both in terms of the price per exchange and the user experience of value-added services built on top of it. upper part".
The Symbiosis co-founder also highlighted his personal opinion that ZK rollups could outperform optimistic rollup solutions like Arbitrum and Optimism. Avramov also believes that it is crucial for cross-chain players and interop layers to support ZK solutions as soon as possible.
"ZK represents an inevitable and natural evolution among scaling solutions."
Symbiosis has processed over $100 million in total stablecoin transaction volume, serving over 12,000 unique wallet addresses and an average of 3,000 daily transactions.
ZK rollups scaling Ethereum continue to grab the headlines in 2023. As previously reported Per Cointelegraph, Ethereum Layer 2 scaling platform Polygon has released its zkEVM into mainnet beta, allowing developers to deploy smart contracts with higher finality and lower costs.
Scaling technology is not just limited to Ethereum or other smart contract blockchains. The Swiss-based non-profit association ZeroSync is currently developing zero knowledge proof tools that will allow Bitcoin (BTC) users to speed up the verification process for individual blocks and eventually the entire blockchain.
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