{"id":37378,"date":"2021-04-13T11:11:27","date_gmt":"2021-04-13T08:11:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37378"},"modified":"2025-08-29T16:08:45","modified_gmt":"2025-08-29T13:08:45","slug":"what-is-zkswap-and-how-does-it-use-zk-rollup-technology","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/what-is-zkswap-and-how-does-it-use-zk-rollup-technology\/","title":{"rendered":"What is ZKSwap and how does it use ZK-Rollup technology?"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">What is ZKSwap?<\/h2>\n<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<p><strong>Attention! This article is outdated and pending an update.<\/strong><\/p>\n<\/div>\n<p><a href=\"https:\/\/zks.org\/en\" target=\"_blank\" rel=\"noreferrer noopener\">ZKSwap<\/a> [ZK-Rollups based Swap protocol] is a protocol and a decentralised exchange built on ZK-Rollup technology.<\/p>\n<p>ZKSwap users can trade Ethereum (ETH) and ERC-20 tokens, and earn the exchange\u2019s governance token (<a href=\"https:\/\/etherscan.io\/token\/0xe4815ae53b124e7263f08dcdbbb757d41ed658c6\" target=\"_blank\" rel=\"noreferrer noopener\">ZKS<\/a>) through community mining [Community Mining].<\/p>\n<p>ZKS holders can vote on token listings on ZKSwap, and propose or champion changes to the protocol.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">What is a ZK-Rollup?<\/h2>\n<p>A ZK-Rollup is an Ethereum Layer-2 solution based on <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-zero-knowledge-proof\">zero-knowledge proof<\/a> [zero-knowledge proof].<\/p>\n<p>It reduces load on the main network by batching transactions and moving part of the computation off Ethereum.<\/p>\n<p>The system continuously generates zero-knowledge proofs (zk-SNARK). ZK-Rollups use them to include transactions on-chain and synchronise the states of the main network and Layer 2.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">What is community mining?<\/h2>\n<p>Community mining is how users of <a class=\"tracking_link\" href=\"https:\/\/zks.org\/en\" target=\"_blank\" rel=\"noopener noreferrer\">ZKSwap<\/a> support the protocol\u2019s liquidity and security. Participants receive rewards in ZKS.<\/p>\n<p>Community mining includes:<\/p>\n<ul class=\"wp-block-list\" id=\"block-57ab9bbc-4739-4c38-ac53-b6bd6f58f234\">\n<li><strong>providing liquidity<\/strong> [Proof-of-Liquidity-Mining, PoL]. Under PoL the exchange will distribute 14m ZKS;<\/li>\n<li><strong>paying Ethereum fees<\/strong> [Proof-of-Gas, PoG]. Under PoG the exchange will distribute 9m ZKS;\u00a0<\/li>\n<li><strong>generating zero-knowledge proofs<\/strong> [Proof-of-ZK-Snarks, PoZK]. Under PoZK the exchange will distribute 14m ZKS;\u00a0<\/li>\n<li><strong>trading on ZKSwap<\/strong> [Proof-of-TransFee, PoT]. Under PoT the exchange will distribute 9m ZKS.\u00a0<\/li>\n<\/ul>\n<p>ZKSwap is working on ZKS staking [Smart Contract Staking, PoS]. During staking the exchange will distribute 9m tokens.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Who created ZKSwap, and when?<\/h2>\n<p>The ZKSwap team remains anonymous. Project lead Alex Lee said in an <a class=\"tracking_link\" href=\"https:\/\/medium.com\/zkswap\/zkswap-ama-with-huobi-global-3cc05e7ac997\" target=\"_blank\" rel=\"noopener noreferrer\">interview<\/a> with Huobi Global that about 20 experienced blockchain developers work at ZKSwap:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cMany team members joined the crypto industry in 2013 and began actively exploring zero-knowledge-based solutions in 2018. Our team has deep hands-on experience in smart-contract development and zero-knowledge proof research.\u201d<\/em><\/p>\n<\/blockquote>\n<p>ZKSwap launched a test network in November 2020. In the same month, the project raised $1.7m from Bixin, SNZ, FBG and Longling Capital.<\/p>\n<p>On 15 February 2021 the ZKSwap mainnet <a href=\"https:\/\/u1f987.com\/en\/news\/zkswap-launches-on-ethereum-using-zk-rollups-technology\">went live<\/a>. On 20 February the exchange <a href=\"https:\/\/u1f987.com\/en\/news\/zkswap-to-airdrop-80-million-zks-tokens\">conducted<\/a> an airdrop of 80m ZKS.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">How does ZKSwap work?<\/h2>\n<p>On ZKSwap, users trade directly with one another via Ethereum smart contracts. They can also add assets to the ZKSwap liquidity pool.<\/p>\n<p>The protocol is available through the <a class=\"tracking_link\" href=\"https:\/\/zks.app\/\" target=\"_blank\" rel=\"noopener noreferrer\">zks.app<\/a> interface. To connect you need an Ethereum wallet, for example MetaMask.<\/p>\n<p>ZKSwap processes user transactions on Layer 2 and synchronises with the main network. This mitigates Ethereum\u2019s weak points: high transaction fees and low throughput.<\/p>\n<p>ZKSwap\u2019s architecture includes:<\/p>\n<ul class=\"wp-block-list\">\n<li>a user interface (UI);<\/li>\n<li>Ethereum smart contracts [ZKSwap smart contracts];<\/li>\n<li>the ZKSwap server. It includes a mempool [Mem Pool], a block proposer [Block Proposer], a state keeper [State Keeper] and a prover server [Prover Server].<\/li>\n<\/ul>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"780\" height=\"570\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image2-255.png\" alt=\"\u0427\u0442\u043e \u0442\u0430\u043a\u043e\u0435 ZKSwap? \u041a\u0430\u043a \u043f\u0440\u043e\u0435\u043a\u0442 \u0438\u0441\u043f\u043e\u043b\u044c\u0437\u0443\u0435\u0442 \u0442\u0435\u0445\u043d\u043e\u043b\u043e\u0433\u0438\u044e ZK-Rollup?\" class=\"wp-image-131505\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image2-255.png 780w, https:\/\/u1f987.com\/wp-content\/uploads\/image2-255-300x219.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/image2-255-768x561.png 768w\" sizes=\"auto, (max-width: 780px) 100vw, 780px\" \/><\/figure>\n<p>ZKSwap smart contracts are the key link between Ethereum and the exchange server. They hold tokens and update user balances.<\/p>\n<p>The ZKSwap server processes transactions independently of Ethereum. It works as follows:<\/p>\n<ul class=\"wp-block-list\">\n<li>user transactions enter the mempool;<\/li>\n<li>the block proposer groups user transactions;<\/li>\n<li>the state keeper receives transaction data and updates Layer-2 token states;<\/li>\n<li>the prover server takes the updated state and confirms validity. It generates a non-interactive zero-knowledge proof (zk-SNARK) using <a href=\"https:\/\/eprint.iacr.org\/2019\/953.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">PLONK<\/a> [Permutations over Lagrange-bases for Oecumenical Noninteractive arguments of Knowledge];<\/li>\n<li>the prover server sends the zk-SNARK to the ZKSwap smart contract on Ethereum.<\/li>\n<\/ul>\n<p>The ZKSwap smart contract receives the zk-SNARK and confirms user transactions. After that, users can withdraw tokens to Ethereum wallets.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">How to obtain ZKS tokens?<\/h2>\n<p>The exchange credits ZKS to airdrop and community-mining participants. ZKS also trades on Huobi, Poloniex, Uniswap and <a class=\"tracking_link\" href=\"https:\/\/coinmarketcap.com\/currencies\/zkswap\/markets\/\" target=\"_blank\" rel=\"noopener noreferrer\">other crypto exchanges<\/a>.<\/p>\n<p>Total supply is 1bn ZKS. ZKSwap will distribute 60% of this amount (600m ZKS) to protocol users via community mining and airdrops.<\/p>\n<p>The <a class=\"tracking_link\" href=\"https:\/\/zks.org\/en\" target=\"_blank\" rel=\"noopener noreferrer\">ZKSwap<\/a> team will receive 15% of the supply (150m ZKS) one year after mainnet launch. Another 25% of tokens will go to ZKSwap ecosystem developers, investors, project advisers, and to the Uniswap and Gate.io exchanges for providing ZKS liquidity.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"780\" height=\"381\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-415.png\" alt=\"\u0427\u0442\u043e \u0442\u0430\u043a\u043e\u0435 ZKSwap? \u041a\u0430\u043a \u043f\u0440\u043e\u0435\u043a\u0442 \u0438\u0441\u043f\u043e\u043b\u044c\u0437\u0443\u0435\u0442 \u0442\u0435\u0445\u043d\u043e\u043b\u043e\u0433\u0438\u044e ZK-Rollup?\" class=\"wp-image-131506\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-415.png 780w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-415-300x147.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-415-768x375.png 768w\" sizes=\"auto, (max-width: 780px) 100vw, 780px\" \/><\/figure>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">How is ZKSwap developing?<\/h2>\n<p>The exchange began operating on 15 February 2021. A month after launch, the value locked on ZKSwap <a class=\"tracking_link\" href=\"https:\/\/zkswap.info\/en\" target=\"_blank\" rel=\"noopener noreferrer\">surpassed<\/a> $1bn.<\/p>\n<p>In March, the exchange distributed 9m ZKS under Proof-of-Liquidity and Proof-of-TransFee.<\/p>\n<p>In the second quarter, <a class=\"tracking_link\" href=\"https:\/\/zkswapofficial.medium.com\/zkswap-sets-out-roadmap-for-2021-1fb39be999b3\" target=\"_blank\" rel=\"noopener noreferrer\">ZKSwap V2<\/a> is slated to launch. The new version will support user listings and non-fungible tokens (<a href=\"\/\/forklog.com\/chto-takoe-nft\/\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnoopener noopener\">NFT<\/a>).<\/p>\n<p>In the third quarter of 2021, the exchange will release an SDK for payment applications and services built on ZKSwap.<\/p>\n<\/div>\n<p>Follow ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full newswire, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ZKSwap is a protocol and decentralised exchange built on ZK-Rollup technology.<\/p>\n","protected":false},"author":1,"featured_media":37379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"2","news_style_id":"1","cryptorium_level":"2","_short_excerpt_text":"ZKSwap is a ZK-Rollup-based DEX with community mining and governance.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[2113],"tags":[2119,2118,1179,2105],"class_list":["post-37378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptorium","tag-101-defi","tag-101-trading-and-investing","tag-layer-2-solutions","tag-zkswap"],"aioseo_notices":[],"amp_enabled":true,"views":"42","promo_type":"2","layout_type":"1","short_excerpt":"ZKSwap is a ZK-Rollup-based DEX with community mining and governance.","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=37378"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37378\/revisions"}],"predecessor-version":[{"id":37380,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37378\/revisions\/37380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/37379"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=37378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=37378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=37378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}