People have made as high as $10,000 from the Aptos token airdrop. If you missed it, zkSync is next and could potentially offer even more free money. Protocols on zkSync’s testnet do not have a token yet, and interacting with them could also qualify you for their airdrops, potentially doubling or tripling your rewards!
What is zkSync?
zkSync is a layer-2 scaling solution designed to speed up transactions and lower gas fees on the Ethereum network while maintaining high security and privacy for users. It does this via the use of Zero-Knowledge Rollup (ZK-Rollup) — transactions on Ethereum are bundled up to be processed off-chain and then sent back to the main chain after validation.
What is a Zero-Knowledge (ZK) Rollup?
The ZK-rollup is the core element of zkSync. For those who do not know what a ZK-rollup is, we got you covered with a simple explanation.
ZK-rollups generate cryptographic proofs (ZK-SNARK or ZK-STARK) to verify transactions without revealing the information itself, hence the name “zero-knowledge proofs.” It maintains privacy by making transaction details such as token amounts anonymous. It is also highly secure because compressed transaction data are stored on-chain, inheriting the robust security of Ethereum.
zkSync’s Version of ZK-Rollups
Unlike other layer-2 solutions, zkSync rely on math instead of third party validators to scale computation. There are also validators on zkSync, but they play a different role. They are known as “operators” or “sequencers” and are in charge of executing, aggregating, and submitting transactions to the main chain, but they do not validate the transactions themselves — the Ethereum smart contract does. By relying on math and cryptographic security, zkSync ensures a truly secure and trustless environment for decentralized finance (DeFi).
Who is the Team behind zkSync?
zkSync is developed by Matter Labs, a European-based blockchain startup focused on scaling Ethereum with zero-knowledge proofs. The company was co-founded in 2019 by Alex Gluchowski and Alexandr Vlasov, both who have years of experience in blockchain research and development.
Matter Labs has raised over $58 million over three funding rounds. Their latest funding was raised on 8th November 2021 from a Series B round led by Andreessen Horowitz (a16z). Other major investors include Dragonfly Capital, Placeholder, 1kx, and more.
Leading DApps on zkSync Ecosystem
zkSync is a layer-2 blockchain that allows developers to build and deploy highly scalable smart contracts at low cost. There are hundreds of projects on the zkSync ecosystem. Some of the notable ones include Uniswap, Aave, Balancer, 1inch Network, Bybit, Chainlink and many more.
Moreover, zkSync is working towards developing a new EVM-compatible “layer-3” prototype called “Opportunity”, aimed at improving the performance of its layer-2 solution. Essentially, it creates an entirely new ecosystem of trustlessly linked blockchains called “HyperChains.” According to Matter Labs, any projects built on zkSync will be future-proof when their layer-3 solution is launched.
Does zkSync have a Token?
As of now, zkSync does not have a token YET. But we know that from zkSync’s user document, there will be a token with the ticker potentially be $ZKS. There is no confirmed date for the token release, but the community expects it to be launching sometime in the near future.
How to Receive Potential zkSync ($ZKS) Token Airdrop?
The best chance to receive $ZKS airdrop is to interact with their testnet. Moreover, protocols on zkSync also do not have a token yet. Being an early user of their DApps puts you in a great position to receive their token airdrops, allowing you to earn additional rewards!
Add zkSync Alpha Testnet on MetaMask
Before you use the testnet, you would need to add the RPC configuration. First, go to chainlist.org and connect your wallet. Toggle on the “Testnets” button and search for zkSync. Add to MetaMask and approve the transaction that pops up.
Acquire Testnet Tokens via zkSync Faucet
Go to portal.zksync.io/ and click on the Faucet link. It will require you to have a Twitter account to claim their testnet tokens. Make sure that the Twitter account is (1) not new, (2) has engaged in previous Twitter activities, and (3) has a profile picture.
After it is successful, you will have received some Goerli ETH, DAI, LINK, USDC, and wBTC. Remember that these are testnet tokens and they have no value. You can only use them to play around on testnet protocols.
Bridge Funds to zkSync
If you have Goerli ETH, you can bridge them to zkSync at portal.zksync.io/bridge. If you do not have Goerli ETH, you can use several faucets such as goerlifaucet.com, goerli-faucet.mudit.blog or goerli-faucet.pk910.de.
Move Funds to Orbiter Finance
Orbiter Finance is a decentralized cross-rollup layer-2 bridge that supports zkSync as well as Arbitrum. You can send ETH, MATIC, BNB and other tokens to zkSync and other layer-2 blockchains via the bridge. However, keep in mind that these are mainnet tokens since the bridge is live and running, but you can always bridge them back to Ethereum.
Trade on ZigZag Exchange
ZigZag Exchange is an orderbook decentralized exchange (DEX) powered by ZK-rollups. It brings centralized exchange (CEX) experience to DeFi and features a number of trading pairs facilitating trades on zkSync. You can use your testnet tokens to make trades.
Set Up and Use Argent Wallet
Argent is a mobile crypto wallet built on zkSync for Ethereum DApps. You will have to download the app at argent.link/getargent and create a username for your wallet. The username will be used to receive funds where you can send USDC from your zkSync wallet to your Argent wallet: [username].argent.xyz.
Mint an NFT on MintSquare
MintSquare is an NFT platform integrated with both zkSync and StarkNet. You can mint an NFT by uploading the supported media of any picture you want. Don’t forget to switch the network to zkSync, not StarkNet. Give it a name, some attributes, and click mint. Voilà! You have yourself a newly minted NFT on the zkSync testnet.
Donate on Gitcoin
Gitcoin is a community platform that funds and coordinate new open source developments. Here you can browse projects and donate to the ones you believe have potential in the future. To donate, go to the “grants” page and choose one (or more if you’re feeling generous) to donate. At checkout, pay via the zkSync network for lower transaction fees.