Matter Labs today announced that Curve will soon be integrating with zkSync’s 2.0 mainnet.
Curve is an automatic market-maker on Ethereum and other EVM-compatible chains. It was originally designed for extremely efficient stablecoin trading, but also now supports volatile pairs. Curve allows users to trade between correlated cryptocurrencies, as well as less correlated assets, with a bespoke low slippage, low fee algorithm.
The exchange supports liquidity pools for major stablecoins, and the protocol is available multi-chain — on Ethereum, Arbitrum, Aurora, Avalanche, Celo, Fantom, Kava, Gnosis chain, Optimism, Polygoni, Moonbeam, and soon zkSync 2.0.
Why does it Matter? Curve is an extremely efficient stablecoin exchange and is a key part of every DeFi ecosystem (consistently top 10 in volume and fee generation). Known for being innovative and pushing boundaries, this would be the first ZK-Rollup Curve is launching on. Moreover, it incentivizes liquidity to the ecosystem, users have a place to efficiently trade stablecoins, and enables new projects to be built on top.
Their leading Automated Market Maker (AMM) has launched hundreds of liquidity pools through Curve’s factory, incentivized by Curve’s DAO, and relying on Curve’s proprietary formulas to provide high liquidity, low slippage, low fee transactions among ERC-20 tokens. Their network sees daily volumes consistently well in excess of $100 million, and has had total deposits of more than $3.5bn to date.
Matter Labs mentioned that increasing personal freedom is the most effective way for crypto to drive positive change at a global scale.
zkSync was created to make Ethereum both scalable and accessible, enabling self-sovereignty at a mass scale. This is a vital step in securing the long-term resilience, relevance, and stability of Web3.
Alex Gluchowski, Co-Founder and CEO, Matter Labs, said: “Our long-term mission is to make self-sovereign participation in the digital economy — i.e. maintaining true control over one’s digital assets — affordable for anyone in the world.”
To realize this vision, crypto cannot be a closed ecosystem; we must increase accessibility by removing the barriers that prevent participation. Users must have the freedom to manage their digital assets and experience in the way they choose, without sacrificing accessibility or security. The events of the past few weeks have demonstrated more than ever that decentralized finance (DeFi) is essential to ensure the long-term future of the Web3 space; by representing the values that set crypto apart from the flaws and drawbacks of traditional finance.
“We’re excited to work with projects like Curve to bring the dream of global crypto accessibility to more people, and to share the power of the speed, scalability, and security of the zkSync 2.0 platform to even more end-users across the DeFi space,” Matter Labs said in a press release shaed with AlexaBlockchain.
Now, more than ever, it is vital for users to control their own finances with trustless, decentralized protocols in order to secure the resilience and security of Web3 long term.
“zkSync have cracked the problem of Ethereum scaling with their EVM-compatible layer 2 solution, and we can’t wait to create trustless, low-gas, user-friendly applications on their platform,” Michael Egorov, CEO at Curve Finance, said.
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