What is ZKX? Complete set of ZKX cryptocurrency
Description of What is ZKX? Complete set of ZKX cryptocurrency
Derivatives trading in crypto allows retail investors and large institutions to insulate themselves from any bearish volatility. Therefore, these are the must-have tools in the crypto ecosystem. With the goal of breaking the barrier of joining DeFi, providing tools to help users trade derivatives safely and effectively, ZKX was born.
What is ZKX?
ZKX is a permissionless protocol for derivatives, developed on StarkNet and StarkWare's ZK Rollup technology . ZKX offers a wide range of features from decentralized limit order books, liquidity management, to complex trading strategies in the form of simple perpetual swaps.
With a liquidity mining swap architecture, decentralized node networks, and asset governance support, ZKX helps developers incentivize the community to trade their tokens in a whole new way.
Highlights of ZKX
Decentralized node network
The ZKX protocol works with a unique node network , providing scalability, speed, and reliability through the ZK rollup. The node network also provides a direct source of price data to the exchange, helping investors to trade efficiently even with high frequency. The consensus algorithm allows for trust and security in the network while the right to manage funds belongs to the user (completely unattended).
In addition, the use of a decentralized order book that includes a network of nodes also helps to scale up derivatives transactions.
Administered by DAO
ZKX allows DAOs and projects to list tokens on the derivatives market, and provides rewards to users for trading their tokens. The protocol also offers algorithmic trading strategies in the form of simple perpetual swaps. As a result, the community can trade perpetual swaps with any ERC-20 pair they want.
ZKX's liquidity governance model offers Virtual Governance Shares (VGS), which separates "voting rights" and "token holdings". This allows users to participate in governance fairly and equally.
StarkNet L2 Scaling Solution
StarkNet is Ethereum's layer 2 solution in the form of a ZK-Rollup solution. The ZKX interface is supported by StarkNet and StarkWare's ZK Rollup. This helps to increase the scalability of ZKX, allowing transactions to be performed quickly and at low costs, and supports the development of the StarkWare ecosystem.
User incentive mechanism
ZKX allows users to trade derivatives on StarkNet with a built-in reward mechanism, which incentivizes users to make multiple trades. Funding rates are varied according to the volatility of the underlying asset, providing a premium on riskier assets to incentivize stakeholders to maintain balance in the order book.
The better a user trades, the more stakes and rewards they get. Top traders will be able to unlock premium trading features and have better admin rights.
Benefits of holding ZKX token
ZKX has not announced a token launch yet. Coin98 Insights team will update information as soon as there is an announcement from the project.
Project team, investors & partners
Project team
ZKX was established in 2021. ZKX project team has 30 people who have worked at Flipkart, PayTM, Byju's… in the field of joint ventures, scaling technology and financial derivatives in more than 8 countries family. In there:
- Founder - Eduard Jubany Tur: He used to be a project manager at SOSV, one of the largest VCs in the world with over 1.2 billion AUM.
- Co-Founder - Naman S : He has over 10 years of experience in business strategy development, partnerships, consulting and fundraising. Previously, he served as director of SOSV.
- Chief Technology Officer - Vitaly Yakovlev : He has held the position of chief technology officer since 2012 in many different companies.
Investors
In July 2022, ZKX successfully raised $ 4.5 million in a seed round with the participation of investors who believe in the development of Web3 including Alameda Research, Huobi Global, Hashkey Capital, StarkWare … The fundraising round also had the participation of angel investors:
- Sandeep Nailwal: Co-founder of Polygon.
- Ashwin Ramachandran: Partner of DragonFly Capital.
The funds will be used to further develop ZKX's core services, including open source, DAO, and the ZXK ecosystem.
Partner
ZKX partnered with Nethermind to audit the smart contract in July 2022.
Roadmaps & Updates
ZKX's upcoming plans include:
- Release concepts around financial innovation like ABR, High Tide, T-Swaps.
- Prepare for Testnet, token release.
- Launch of Community Incentive Program and Partner Program.
- Mainnet in Q4/2022.
- Decentralize the node network in 2023.
Token Information ZKX
- Token Name: ZKX
- Ticker: Updating…
- Blockchain:
- Standard Tokens:
- Contract: Updating…
- Token type: Updating…
- Total Supply: Updating…
- Circulating Supply: Updating…
How to earn and own ZKX Token
Updating…
ZKX Token exchange & storage wallet
Updating…
Information channels of ZKX
- Twitter: https://twitter.com/zkxprotocol
- Telegram: https://t.me/zkxcommunity
- Discord: https://discord.com/invite/7YrNHdwNyu
- Medium: https://zkxprotocol.medium.com
- LinkedIn: https://www.linkedin.com/company/zkx
Similar projects
Updating…
