Blockchain News- zkSync would allow for frictionless asset transfers between several blockchains.
- It eliminates the need for customers to switch between several wallets and interfaces.
To increase throughput and decrease transaction costs for token swaps, Cross-chain automated marker maker Symbiosis has integrated the layer-2 scaling protocol zkSync. In March 2022, the DEX (decentralized exchange) went live. It offers single-sided stablecoin pools that allow liquid suppliers to incur zero impermanent loss. It also allows users to trade native assets between Ethereum Virtual Machine (EVM) and non-EVM networks in an “any-to-any” fashion.
Symbiosis co-founder Nick Avramov told that the addition of zkSync would allow for frictionless asset transfers between Ethereum, Polygon, Avalanche, BNB Chain, Telos, and other blockchains.
The enhanced feature also eliminates the need for customers to switch between several wallets and interfaces. Avramov further confirmed that the integration expands the range of token swaps available on its DEX by allowing for any-to-any native swaps to and from zkSync.
The incorporation of zkSync is also designed to facilitate “secure, fast, and cheap” liquidity transition to and from zkSync. Avramov pointed out how important layer-2 scaling protocols are for DeFi infrastructures of all kinds.
ZK-rollups Trending in 2023
The co-founder of Symbiosis also mentioned his opinion that zero-knowledge rollups could compete favorably with Optimistic Rollup solutions like Arbitrum and Optimism. According to Avramov, zero-knowledge solutions need immediate support from cross-chain players and interoperability layers.
With over 12,000 wallet addresses served and an average of 3,000 transactions per day, Symbiosis has handled stablecoin transactions worth over $100 million.
In 2023, ZK-rollups that can scale Ethereum remain a hot topic. After much anticipation, Polygon, a layer-2 scaling platform for Ethereum, has deployed its zkEVM to mainnet beta, enabling the deployment of smart contracts with more finality and reduced costs.
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Source: https://thenewscrypto.com/cross-chain-amm-symbiosis-integrates-layer-2-scaling-protocol-zksync/