Welcome to the zkSync ecosystem! zkSync Era, a Layer 2 scaling solution for Ethereum using ZK Rollups, offers faster transactions, lower gas fees, and EVM-compatibility. We’ll explore the top 8 dApps thriving in the zkSync Era ecosystem in this article!
(know more about zkSync: What is zkSync? Get to Know Everything You Need in 5 minutes!)
What is zkSync?
zkSync is a Layer 2 solution enhancing Ethereum’s scalability by using zero-knowledge proofs (zk-Proofs) for faster and cheaper transactions than the Ethereum mainnet. Developed by Matter Labs, which received backing from the Ethereum Foundation, Dragonfly Capital, and Union Square Ventures, zkSync began with the Lite version in mid-2020, focusing on payment transactions and supporting up to 3,000 TPS.
The evolution to zkSync Era in March 2023 marked a significant upgrade with the introduction of zkEVM mainnet, facilitating smart contract development using Ethereum-compatible languages, thus lowering barriers to entry and attracting more teams to build Dapps. An additional development, zkPorter, enhances transaction throughput further, aiming to exceed 20,000 TPS by storing data off-chain and using ZKP for transaction validation.
This article will focus on the zkSync Era Ecosystem, introducing you to interesting and significant Dapps on it!
Top DApps Within the zkSync Ecosystem
zkSync Era is renowned for its extensive collection of DeFi projects but also hosts an array of other initiatives including bridges, social, tools, and NFT platforms. Here’s a snapshot of the standout projects that are shaping the future of the zkSync Era ecosystem:
ReactFusion
ReactorFusion is the leading lending and borrowing market on zkSync Era. Users can deposit ETH, USDC, USDT, and WBTC to earn interest or use them as collateral to borrow assets. Currently, ReactorFusion has a TVL of $5M.
Moreover, it is based on Compound Finance and offers unique bribe-reward tokenomics. $RF holders can increase APR and earn $VC as a reward by staking $RF and bribing $VC holders to support the RF/ETH liquidity pool.
(Know more about ReactorFusion: https://blog.xy.finance/reactorfusion/)
SpaceFi
SpaceFi, active on zkSync, Scroll, and Evmos, is a dynamic Web3 platform offering a wide range of financial tools and services. With comprehensive product modules such as Swap, NFT, Launchpad, and yield farming.
SpaceFi has been one of the earliest and active projects on zkSync Era. More than 150k users have deposited in SpaceFi with $4M liquidity, making it one of the Top 10 projects in TVL ranking.
(Know more About SpaceFi: https://blog.xy.finance/spacefi/)
Velocore
Velocore is the first ve(3,3) DEX of the zkSync Era, built on the foundations of Solidity and Velodrome Finance, aiming to provide users with an environment where they can trade with low fees and slippage.
Beyond token swaps and liquidity provision for earning interest, users can convert $VC to $VeVC, gaining a share of protocol fees and bribes, and participating in the governance of emission distribution.
(Know more about Velocore: https://blog.xy.finance/velocore/)
HoldStation
Holdstation is a smart contract wallet that revolutionizes the DeFi trading experience, making it as intuitive and straightforward as centralized finance (CeFi) services.
With Account Abstraction, Holdstation offers users a simplified trading process on zkSync Era. Additionally, the Paymaster feature gives users the flexibility to pay network fees with various assets like ETH, USDC, and USDT. Holdstation also provides cross-chain asset services for users.
Currently, Holdstation is the Wallet Dapp with the highest TVL on zkSync Era, at $3.8M.
(Know more about Holdstation: https://blog.xy.finance/holdstation/)
Neon Protocol
The Neon Protocol is an automated and no-deposit DCA (Dollar-Cost-Averaging) protocol, making DCA easy and accessible for everyone on different chains.
With Neon Protocol, users can simply enter the token pair, amount, and purchase frequency, and Neon Protocol will help users regularly purchase the specified asset.
Additionally, it also supports cross-chain transactions, where the currency used to pay and the token purchased can be on different chains.
(know more About Neon Protocol: https://blog.xy.finance/neonprotocol/)
DerpDex
Riding the wave of meme token mania, DerpDEX emerges as a dedicated DEX for meme tokens.
DerpDEX aims to be the leading concentrated liquidity DEX with an all-in-1 DeFi ecosystem on L2 zkSync, Base & opBNB. It currently offers trading for up to 12 meme tokens, and also provides users with staking, bridging, and yield farming services.
Era Name Service
ERA Name Service is a decentralized naming service developed on zkSync Era. ERA NS aims to provide web3 with an online identity solution that only requires a one-time payment for ownership, fair launch, distribution, and next-gen domain utility.
There are currently over 70,000 .era owners, and nearly 100,000 .era domains have been registered!
(Know more about Era Name Service: https://blog.xy.finance/era-name-service-integrates-widget/)
XY Finance
XY Finance is a cross-chain bridge aggregator that operates on 20 EVM chains. XY Finance’s user-centric approach allows for easy token swaps between different chains, ensuring the best route and optimal prices for users.
Through XY Finance, users can effortlessly transfer assets to zkSync Era and explore the diverse Dapps on the zkSync network. This article will conclude with a detailed guide on how to use XY Finance!
Interacting with Dapps on zkSync! Unlock Airdrop Rewards
As an emerging Layer2, zkSync has always been in the spotlight for its anticipated token airdrop. In a March 2023 interview with Alex Gluchowski, CEO of Matter Labs, by The Block, he mentioned that a token would be essential for decentralizing the sequencer, with an estimation of about a year until zkSync reaches this phase.
This implies that the launch of zkSync’s token is on the horizon. To increase the chances of receiving an airdrop, it is crucial to continuously engage with Dapps within the zkSync ecosystem. The Dapps mentioned earlier are your best bet! Now is the time to bridge your assets to zkSync Era and start exploring!
(know more about zkSync Airdrop: https://blog.xy.finance/step-by-step-guide-for-potential-zksync-airdrop/)
How to Bridge Tokens to zkSync?
As mentioned earlier, XY Finance provides a seamless and efficient method for bridging assets to zkSync Era. Don’t waste your time! You can now bridge tokens to zkSync Era with this simple guide:
- Visit XY Finance and connect your Wallet.
- Select the network you want to transfer tokens from (Ethereum, Polygon, Arbitrum, Avalanche, Optimism + 15 others).
- Select the token you want to bridge from your network to zkSync Era and input the amount.
- Review and confirm the transaction. Your tokens will arrive in under 5 minutes.
(Encountering any problems while bridging? Check out our comprehensive tutorial.)
You’re all set! Start exploring the zkSync ecosystem now!
About XY Finance
XY Finance is a cross-chain interoperability protocol aggregating DEXs & Bridges. With the ultimate routing across multi-chains, borderless and seamless swapping is just one click away.
XY Finance Official Channels
XY Finance | Discord | Twitter | Telegram | Documents | Partnership Form
