1inch, DeFi, crypto, Announcement, zkSync, zkSync Era
Thanks to the expansion to this recently launched, highly-anticipated blockchain, 1inch users will get access to yet deeper liquidity and, in the longer run, higher transaction speeds and lower fees.
“DeFi has been a driving force behind zkSync Era’s explosive growth that has seen over $200M in TVL driven to the protocol in just three short weeks, and we expect the deployment of 1inch to contribute to even greater adoption and usage of zkSync Era,” he goes on to say.
Launched in late March 2023, zkSync Era is one of this year’s most highly-anticipated L2 solutions. It is powered by the Zero-knowledge rollups (ZK-rollups) tech and aims, on top of increasing Ethereum's throughput, to fully preserve such values as freedom, self-sovereignty and decentralization, at scale.
zkSync Era’s ultimate goal is hyper scalability – an ability to process an unlimited number of transactions without any major impact on security or costs.
ZK-rollups increase throughput on Ethereum Mainnet by moving computation and state storage offchain. As a result, ZK-rollups can process thousands of transactions in a batch and subsequently post only some minimal summary data to Mainnet.
While zkSync Era was still in development stages, more than 200 projects, including Chainlink, SushiSwap, Uniswap, Aave, Argent, Gnosis and Curve, expressed interest in deploying on the blockchain.
Several protocols are immediately available via 1inch on zkSync Era, including:
Stay tuned for more exciting news and updates from the 1inch Network!