Get Ready for zkLink (ZKL) Token Distribution on 22 July with Listings on ByBit, Bitget, and Other Leading Exchanges

$ZKL Token Drops 22 July 12pm UTC (8pm SGT), Listing on Leading Exchanges

The $ZKL token, marking the NovaDrop Round One — Genesis, is set to launch!

$ZKL token claiming for Novadrop Round One opens on 22 July, and zkLink will have a primary listing with leading exchanges like Bybit, Bitget, KuCoin, MEXC, Gate.io, BitMart, Coinlist, and HashKey listing $ZKL around 12pm UTC (8pm SGT).

Eligible users have a four-month window to claim their $ZKL tokens once the claim period commences.

The wallet checker is currently available on the official website.

The NovaDrop Round One initiates the zkLink airdrop campaign, with a significant 5% allocation earmarked for claiming.

Those not eligible for the first round can still qualify for subsequent rounds by participating in the ongoing Aggregation Parade.

Furthermore, the Aggregation Parade Season II commenced on 31 May 2024.

The $ZKL token serves as both the native utility and governance token for the zkLink protocol.

During Season I, zkLink surpassed the $1 billion Total Value Locked (TVL) milestone and expanded its ecosystem to over 100 partners.

The protocol is now poised to advance with Aggregation Parade Season II, featuring a prize pool of 30 million $ZKL tokens.

This season rewards users for their contributions to zkLink Nova and explores the industry's first aggregated Layer 3.

Aggregation Parade Season II will distribute ZKL rewards in Epochs beginning 31 May, each lasting approximately six weeks.

There will be at least three Epochs, continuing until all 30 million $ZKL tokens are distributed.

The prize pool size for each sector will vary based on the milestones achieved, with higher TVL or volume categories receiving larger prize pools.

Users can also earn additional NFT rewards through a Roulette wheel and by inviting friends to join the campaign.

The total supply of $ZKL is capped at 1,000,000,000 ZKL tokens, adhering to a non-inflationary model.

The $ZKL token's utility includes:

-Payment for zero-knowledge proof generation services provided by provers.

-Governance token for the zkLink DAO, steering the protocol's development.

-Gas fee for transactions on zkLink Nova.

What is zkLink: Unlocking DeFi's Full Potential with Aggregated L3 Rollups

The crypto and blockchain industry has experienced exponential growth over the past decade, evolving into a multifaceted ecosystem comprising numerous Layer 1 and Layer 2 blockchains that host thousands of decentralised applications (DApps) and serve millions of users.

This escalation in activity has fuelled a demand for high-throughput and scalable blockchains, such as Ethereum and Solana, as well as Layer 2 scaling solutions like Arbitrum, Optimism, Base, Mantle, Starknet, zkSync, Manta Pacific, and Linea.

The result is a complex multi-chain/multi-layer blockchain environment that characterises Web3 today.

While this multi-chain landscape has generated significant value for decentralised finance (DeFi) and the broader blockchain economy, it also presents several challenges.

Managing multiple blockchains, each with its own set of rules, can be daunting.

This fragmentation can lead to liquidity issues and complicate transactions.

Interoperability is therefore a critical feature for blockchain networks, enabling different chains to communicate seamlessly.

Without it, blockchain interoperability can result in liquidity fragmentation, higher trading costs (capital inefficiencies), security risks, and complexities in deploying dApps across various networks.

To tackle the challenges of asset fragmentation and the complexities of multi-chain dApp development, zkLink has developed an application-specific scaling engine infrastructure and an aggregated Layer 3 rollup network.

On zkLink, dApps can securely tap into liquidity from any of zkLink's connected chains.

By utilising zk proof technology, zkLink offers a high-throughput, cost-effective, and secure environment for dApps.

zkLink posits that the future advancement of the Ethereum blockchain ecosystem necessitates both application-specific rollups and general-purpose aggregated Layer 3 solutions to unify the fragmented landscape in terms of liquidity, user base, and development.

zkLink aims to streamline interactions between blockchain networks by integrating zkLink Nova and zkLink X, facilitating smoother transactions and easier connectivity between different systems.

This approach addresses liquidity fragmentation by simplifying users' ability to access and trade assets across various chains.

Vincent Yang, Co-Founder of zkLink, had said:

"ZkLink plays a crucial role in shaping the future of the crypto landscape by leveraging the potential of ZK technology. For newcomers to the field, envision a scenario where [decentralized finance] DeFi trading delivers comparable user experience, efficiency and speed as centralized exchanges, but also provides the advantages of being trustless and non-custodial.”

How Aggregated Rollups like zkLink Can Unlock DeFi's Potential

Envision a mall where retailers accept only specific currencies, leaving a customer with a diverse wallet of currencies frustrated and unable to make seamless transactions.

This scenario mirrors the current issue of liquidity fragmentation in the blockchain ecosystem, where assets dispersed across various chains struggle to interact, leaving the full potential of DeFi unrealised.

The fragmentation of liquidity complicates the transfer of value across chains, necessitating costly and complex bridging solutions.

Users are forced to navigate a maze of swaps and transfers, incurring high fees and time delays, which significantly diminish their experience.

This impedes the efficiency and growth of dApps and DeFi platforms, leaving users disillusioned.

One solution that harnesses technologies such as aggregation, optimistic rollups, and zero-knowledge (ZK) rollups to address liquidity fragmentation is zkLink, a developer of ZK-based aggregated rollups.

zkLink offers two primary products: zkLink Nova and zkLink X.

zkLink Nova is an aggregated rollup network constructed on zkEVM, a zero-knowledge Ethereum Virtual Machine (EVM).

This network combines assets from different blockchains into a single rollup, enhancing efficiency and interoperability.

By merging assets from the ZK and optimistic (OP) ecosystems, zkLink Nova enables users to trade and interact with a unified liquidity pool.

With its mainnet launch on 11 March, zkLink Nova quickly secured a total value locked (TVL) of $1.05 billion within two months.

The Layer 3 network has also attracted over one million unique wallet addresses, processing more than 17 million transactions across nine integrated ecosystems.

These include Ethereum and its ZK and Optimistic Rollups, such as Arbitrum, Optimism, Base, zkSync, Linea, Scroll, Manta Pacific, and Mantle.

zkLink Nova Aggregation Illustration from its whitepaper

zkLink X is a high-performance scaling engine tailored for dApps.

It empowers developers to create app-specific rollups, offering rapid deployment and interoperability across multiple chains.

By utilising plug-and-play application programming interfaces (APIs) and software development kits (SDKs), zkLink X streamlines the development process.

The scaling engine allows dApps to aggregate liquidity and facilitate complex financial products, such as multi-chain asset loans.

How Did zkLink Came About?

zkLink launched in 2021 as a multi-chain trading infrastructure utilizing zero-knowledge proofs (ZKPs) to provide users with reliable access to aggregated liquidity.

It also empowers developers to quickly deploy customisable and secure financial applications such as decentralised exchanges (DEXs) and automated market makers (AMMs).

Over the years, zkLink has evolved into a stack-agnostic aggregator, seamlessly connecting assets, liquidity, and applications across various Layer 1 blockchains and Ethereum Layer 2 solutions, fostering a more interconnected blockchain ecosystem.

Yang recounted how zkLink was started:

“When we started designing zkLink, we very early decided that we wanted to build a decentralized, multi-chain future and to do that, we needed to take on one of the biggest problems in DeFi: Liquidity fragmentation among blockchain ecosystems. Thankfully, we found our answer in ZKPs. Early testing allowed for interoperability among different Layer 1s, and we knew then that ZKPs were going to be the fundamental engine to build infra for high-performance ZK applications."

He added:

“ZKPs were able to simplify inter-chain communication between ecosystems, solving many key problems in DeFi, such as liquidity fragmentation across blockchains, and, at the same time, turn complex multi-chain DApp deployment ventures into easy processes while making zero compromises on security. Coupled with building our own SDK, we were able to build a product that allows developers to access liquidity across Layer 1 blockchains and Layer 2 Rollups, provide APIs for quick and developer-friendly scaling, and fully customizable zkVM architecture that empowers high-performance financial applications such as order book DEXs and AMMs.”

Vincent Yang, Co-Founder

Yang, Co-founder of zkLink, is at the forefront of developing the industry's first multi-rollup Layer 3 solution aimed at resolving liquidity fragmentation on Ethereum Layer 2 rollups.

This innovative approach paves the way for more liquid, secure, and customisable DeFi trading experiences.

With a background in engineering and a keen interest in crypto-technology, Yang's entrepreneurial journey commenced in the Bitcoin mining sector in 2019, coinciding with the bear market's nadir.

During the "DeFi Summer" of 2020, Yang delved into liquidity mining and observed the substantial blockchain and crypto adoption catalysed by applications like Uniswap.

As new blockchain ecosystems proliferated and hundreds of applications were launched on various chains, Yang identified a critical issue: users encountered difficulties in transferring their liquidity across networks due to the absence of mature and reliable cross-chain interoperability solutions.

This realisation marked his entry into Web3.

Yang assembled a development and tech team to embark on the creation of zk bridging technology and distributed computational systems.

This initiative expanded into a comprehensive exploration of blockchain's financial applications and the potential of zk Proofs, leading to the inception of zkLink.

His socials: X

zkLink's Socials

Website

X

YouTube

Telegram

Discord

LinkedIn

Becoming Ethereum's Central Liquidity Hub is zkLink's Aspiration

zkLink signifies a substantial advancement in blockchain interoperability, harnessing the power of zk proofs to deliver a more secure, efficient, and privacy-centric method for cross-chain transactions.

Despite the potential for technical vulnerabilities or implementation challenges inherent in its reliance on zk proof technology, which could impact system security and stability, zkLink remains a critical component in the evolution of a more interconnected and functional digital ecosystem.

By streamlining multi-chain interactions and reducing transaction costs, zkLink is instrumental in making blockchain technology more accessible and promoting its widespread adoption.

zkLink aims to establish itself as Ethereum's central liquidity hub, consolidating and unifying scattered liquidity through aggregated rollups.

As Ethereum continues to grapple with scaling issues and liquidity fragmentation, zkLink's solutions present a promising trajectory for the ecosystem's evolution.

Coinlive believes that as blockchain technology progresses, the demand for robust interoperability solutions like zkLink will become increasingly evident.

By tackling the complexities of cross-chain communication, zkLink is well-positioned to play a crucial role in moulding the future of blockchain technology.

Its potential to offer a unified platform for dApps and users, underpinned by a dedication to security, establishes zkLink as a pivotal force in the DeFi sector.

This positions the Layer 3 rollup network as an appealing investment opportunity.

Nonetheless, while zkLink may indeed catalyse future innovations within the blockchain domain, it is imperative to approach investment decisions with caution and a comprehensive understanding of market risks.

In the meantime, stay tune for its $ZKL token listing at 12pm UTC (8pm SGT)!