ZKSwap enters into a partnership with SofaSwap to jointly explore liquidity mining to drive innovation and growth in the Defi market.
Liquidity mining, also known as yield farming, is a DeFi (decentralized finance) mechanism in which participants supply cryptocurrencies into liquidity pools, and being rewarded with fees and tokens based on their share of the total pool liquidity. Liquidity pools in DeFiChain consist of liquidity in pairs of coins, used by the DeFiChain DEX (Decentralized Exchange).
ZKSwap is a decentralized swap instrument on Layer 2, while SofaSwap is a decentralized coin-margined futures trading protocol. Both the companies intend to jointly work out new business product forms and market promotional campaigns through the strategic cooperation.
The partnership between ZKSwap and SofaSwap allows users to start mainstream token contracts (BTC, ETH) using ZKS at SofaSwap.
“The settlement token can be any digital asset (ex. ZKS) that is chosen to be staked by the Market Maker LP,” states ZKSwap. “The deepened cooperation on product and marketing between ZKSwap and SofaSwap will provide users with abundant trading opportunities.”
In July ZKSwap launched its V2 mainnet. It allowed participants for unlimited token listing, fast withdrawal, personalized fee token, and L2 deployment on BSC, HECO, and OKEX Chain.
In August, ZKSwap entered into a strategic partnership with Layer2 NFT platform ZKBox. Backed by the L2 Labs Foundation, ZKBox is a Layer2 NFT platform based on ZK-Rollups technology. The upcoming ZKSwap V3 aims to build safe, universal, and open blockchain infrastructures with the capacity to create and trade NFTs with 0 gas fees at a fast speed through the incorporation with ZKBox. Simply put, ZKSwap users can directly purchase, create and trade NFTs on the ZKBox platform with their L2 token asset instantly at a lower cost.