The V2 mainnet from ZKSwap should go live tomorrow

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The decentralized cryptocurrency exchange ZKSwap has announced that its upcoming V2 mainnet will go live on July 28th via the Layer 1 Ethereum mainnet. A Layer 2 start is planned for Binance Smart Chain, Huobi Eco Chain and OKEx Chain.

This update will introduce a variety of new features for third-party projects that want to list their tokens for trading, such as: B. the admissibility of unlimited token lists and pairs. The update will also shorten the cross-shift payout times from 40 minutes to 20 minutes and give users the ability to pay their payout fees with an expanded list of tokens such as Ether, Tether and the platform’s own ERC20 token, ZKS.

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Once deployed across all planned networks, the team determined that ZKSwap v2 will be ready for mass rollout to ensure listed projects can move liquidity across blockchains at will. In terms of scalability, transactions take place on Layer 2 in order to minimize waiting times and fees. As a result, the project says that users will benefit from gas-free transactions up to a set limit every day. The exchange also intends to run a campaign at launch to ensure a hassle-free migration for liquidity providers.

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Starting in February 2020, ZKSwap has raised over $ 1.7 billion in just six months. Its users are rewarded with the platform’s ZKS token, which currently plays a role in network governance. ZKSwap also uses various consensus procedures such as Proof-of-Stake or PoS, Proof-of-Transfer or PoT and Proof-of-ZK Snarks or PoZK.

Exchanges, decentralized and otherwise, have continued to struggle with regulation in recent days. Binance CEO Changpeng Zhao recently announced that he plans to step back from decentralization in order to achieve regulation in even the toughest countries. Meanwhile, crypto companies are leaving China left and right due to the recent crackdown.