zkLink Protocol, a trailblazer in zero-knowledge blockchain is launching its own token, $ZKL. The public sale is going to happen on the 25th of January, 18:00 UTC on CoinList.
It is to note that only whitelisted wallet addresses and registered users will be able to participate. The whitelisting ended on the 16th of January but I'm not sure if there was an extension. While I learned about the upcoming sale earlier, I didn't really like the KYC requirement so I kind of slept on it.
Here's a quick details about the sale obtained from CoinList:
- Sale Price: $0.15 per ZKL
- Vesting Terms: 30% unlock on 31 March 2024, monthly linear vesting in 9 months
- Funding Method: USDT, USDC
- Deadline of Wallet Funding: 22nd January 2024
- Minimum/Max Purchase: $100 / $500
- Additional Allocation Request: $500 / $1,500
- Available for Sale: 31,250,000 ZKL (3.125% of total token supply)
More info about the sale on the FAQs. Let me also share some more about the token and the zkLink Protocol below.
$ZKL Token
ZKL is the zkLink Protocol's native utility and governance token. It will be a non-inflationary token issued on the Ethereum Mainnet.
Ticker: $ZKL
Token Type: ERC-20
Maximum Supply: 1 billion
Here's what the token distribution looks like:
Token Utility
➡️ZKL as Prover Fee
Provers will need to stake a specific amount of ZKL to join the proof market. ZKL is the default payment token for the zero-knowledge proof generation service provided by provers.
Provers are then rewarded with ZKL tokens for their services in generating ZK proofs for the App Rollups.
➡️ZKL as Rollup Infra License Fee
- Applications using zkLink Rollup deployment solution will need to pay a license fee in the form of ZKL to the zkLink DAO.
➡️ZKL as governance token
Validators have to stake ZKL as a guarantee deposit, and help generate zero-knowledge proofs to receive ZKL as rewards;
Holders of ZKL can unlock perks and special user rights such as trading fee discounts;
ZKL holders can stake ZKL to get veZKL and be able to initiate and vote on the proposals to govern the development of the protocol.
[Source: zkLink Docs / Whitepaper]
What is zkLink Protocol
zkLink is a multi-chain Layer 3 rollup infrastructure based on Zero-Knowledge technology. It is designed to support high-performance trading, enhance asset security, and simplify inter-chain communication processes.¹
zkLink aims to provide a more accessible and user-friendly decentralized finance (DeFi) environment by leveraging the advanced capabilities of zkSNARKs technologies.²
Accordingly, it empowers decentralized financial (DeFi) products, including RWA, order book DEXs, NFT marketplaces, and more in a roll-up centric, multi-chain world.³
Recently, it launched zkLink Nexus, a multi-rollup Layer3 that is designed to reduce issues of liquidity fragmentation. "It enhances performance and brings down the transaction cost for traders, while inheriting the security from Ethereum."⁴
The app, also called zkLink Playground, is on its Mainnet Alpha and currently supports Linea, Ethereum, Scroll, Polygon zkEVM and zkSync Era. The platform is interactive and provides users a hands-on experience with the protocol’s non-custodial Layer 3 account, bridge funds from L2 Rollups, and interact with zkLink’s DApps with gasless transactions, aggregated assets, and bridgeless fees.⁵
The zkLink project is backed by big names such as Coinbase Ventures, Arrington Capital, Polygon Ventures, CryptoCom and many others.
Products or DApps on the zkLink Ecosystem
1️⃣zkEX
A decentralized, non-custodial multi-chain order book book exchange secured by zero-knowledge proofs. Users can trade Spot and Perpetual Contracts without limits, at low fees, deep liquidity and in multiple blockchains.⁶
The DEX is on its Mainnet Alpha and it currently supports 9 blockchains including Polygon, Linea, Base, Arbitrum, Optimism, BSC. opBNB, zkSyn Era and Avalanche. The application is on its Mainnet Alpha and users can already trade some assets like ETH, BNB, MATIC and AVAX.
2️⃣zkJump
The cross-chain bridge for native assets that eliminates the need for intermediate or wrapped tokens. Users can seamlessly bridge their multi-chain tokens within a single user interface, without having to make a deposit into the zkLink middle layer.⁷
The application is still on its Testnet phase.
3️⃣OpenWorld
A decentralized derivatives exchange. Users can trade crypto, stock, bond, forex, commodity etc. According to its documentation, it is the first RWA and crypto DEX with order book model and CeFi performance.⁸
The exchange is still on its Testnet phase and is only accessible by whitelisted individuals.
Summary (TL;DR)
The zkLink token sale for requires KYC for one participate. While the registration is indicated to end on the 22nd of January, the whitelisting has ended 2 days ago.
$ZKL token (ERC-20) is the utility and governance token for zkLink Protocol, and is the main token to be used in the zkLink ecosystem.
zkLink Protocol aims to be a dev-centric, user-friendly solution which allows developers a plug-and-play experience when deploying their DApps. It also offers customizable features in a highly scalable environment at a low cost.
On the other hand, it allows users to transact and manage their assets with just a single wallet. It mentioned it also supports CEX deposit & withdrawal. It aims to offer unlimited trading pairs and deep liquidity and also minimize trading fees through its gasless transactions on ZK-Rollup.⁹
I'm personally interested in OpenWorld, the DEX with order books. It's still on Testnet but will be interesting to see how it develops into a fully functional exchange.
As always, none in my publication is an investment or financial advice. DYOR.
Info Sources: Lead image edited on Canva. Logo from zkLink. Other photos are linked directly to their sources. No copyright infringement intended. 18012024/19:00ph