December 1, 2020, Beijing – ZKSwap developed by L2Lab is the first layer 2 DEX based on ZK-Rollups technology and using the AMM model. The team has recently closed a $1.7 million angel round led by Bixin, followed by Longling Capital, SNZ Holding, FBG Capital, Jubi, and Consensus Lab.
After launching on the Ethereum Ropsten test network on November 16th, 2020, many community members have participated in the test and helped ZKSwap improve the product. To give back to the community, ZKSwap launched several testnet incentive programs to the users starting from November 27th, 2020, Beijing time.
Details of the incentive program campaign have been announced on the official website zks.org. ZKSwap will give away 1 million ZKS for those users who are helping testing the layer 2 transaction this time. There will be no public fundraising for ZKSwap and the community incentive program is a rare opportunity to receive the ZKSwap governance token ZKS.
ZKSwap is the first layer 2 DEX based on ZKRollup using the AMM model. Users can now deposit and withdraw between the ZKSwap layer 1 and layer 2 wallet, swap tokens, transfer tokens, and add/remove liquidity on ZKSwap with real-time transactions and zero gas fees.