What is zkLink (ZKL)? Token details about to be sold on Coinlist

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19 Jan 2024

What is zkLink?

As the blockchain space undergoes rapid development, there is an increasing number of Layer 1 blockchains such as Ethereum, Solana, Avalanche, and Layer 2 scaling solutions for Ethereum, including ZK-Rollups and Optimistic Rollups. Therefore, in the context of multiple chains, complex layering has emerged as a present reality and is considered an inevitable future of the cryptocurrency ecosystem. Users navigate between various L1 chains and L2 rollups to meet their specific requirements, utilizing various types of cryptocurrency tokens.
While the benefits of a multi-chain environment are undeniable, it also brings unforeseen challenges. zkLink is created to address challenges related to interoperability and standardization in the blockchain space by constructing a cross-chain synthetic infrastructure protocol. Its aim is to simplify the deployment of multi-chain dApps and address the issue of liquidity fragmentation. Leveraging zero-knowledge proof technology, zkLink provides a high-throughput, low-cost solution for deploying Composite Applications.

Functions of zkLink:

1.Synthesis of Native Assets:

Applications utilizing zkLink rollup infrastructure will have the ability to access and list native tokens on connected L1 and L2 systems, including both FTs (fungible tokens) and NFTs (non-fungible tokens). This facilitates users in trading multi-chain assets through a unified user interface.
This process doesn't require asset bridging across multi-chain bridges, thereby avoiding risks and fees associated with asset bridging across chains. Additionally, the list of multi-chain tokens can be managed through a single wallet, enabling users to easily oversee their multi-chain token list with a user-friendly interface.

2.Aggregation and Uniformity of Liquidity:

Tokens issued on different L1 and L2 rollup chains by the same unit, such as USDT ERC20, USDT BEP20, USDT ARB, etc., will be consolidated into a single USDT token within the zkLink Rollups application and the L3 zkLink network.
Similarly, this applies to ETH. ETH, being the native asset for Ethereum and all Ethereum's layer 2 networks such as zkSync and Starknet, will be aggregated into a single ETH token, eliminating disparities across chains.
In summary, tokens of the same type but issued on different chains will be aggregated into a single token, enabling integration and standardization of liquidity.

3.Customizable Deployment of Synthetic Applications:

The zkLink protocol is modularized into 4 layers to provide a fast and customizable solution for deploying synthetic applications. zkLink focuses on developing the execution layer along with the resolution layer and will integrate third-party modular solutions for the DA (Data Availability) layer and the Sequential layer, allowing developers to customize key components to meet diverse use case needs.
The solution includes a network collection and resolution layer. Developers can choose the chains that the Synthetic Application can access, including but not limited to: ETH, BNB Chain, Avalanche, Polygon PoS, Solana, zkSync, Starknet, Scroll, Polygon zkEVM, Linea, Taiko, Arbitrum, Optimism, Base, etc.
Execution Environment: TS-zkVM.
Centralized Orderer: Espresso, Astria, Fairblock, etc.
DA Modular Solution: Besides Ethereum, developers can choose Celestia, EigenDA, Polygon Avail, DAC organized by zkLink, etc.

Ecosystem, partner of zkLink

There are three projects operating within the ecosystem infrastructure, including:

1.ZKEX:

ZKEX is a multi-chain decentralized exchange (DEX) that utilizes an order-book mechanism similar to centralized exchanges (CEX) such as Binance, OKX, and others.

2.zkJump:

zkJump is a cross-chain solution with high speed and low transaction fees. It serves as an infrastructure to connect and interact between different chains with high performance and low costs.

3.Open World:

Open World is a decentralized exchange integrated into the zkLink ecosystem. Built on the zkLink infrastructure, it provides decentralized trading services for users within this ecosystem.

Development roadmap

1. Q1/2024:

Complete the expansion of the TS-zkVM mobile circuit.
Integrate DA (Data Availability) modular solutions.
Support ZK social login, ZK Oracle.

2. Q2/2024:

Provide API for creating and trading NFTs.
Support proof-based auction markets.
Support modes: Automated Market Maker (AMM) + Centralized Limit Order Book (CLOB).

3. Q3/2024:

Activate interaction capabilities across rollups.
Develop new proof systems.
Support cross-chain liquidity sharing as a service.

4. Q4/2024:

Integrate hardware acceleration solutions.
Integrate decentralized sequencer services.
Deploy new proof systems.

Investors

22/09/2021:

zkLink successfully raised 8.5 million USD in a Seed funding round led by Republic Crypto, with participation from Huobi Ventures, GSR Ventures, Arrington XRP Capital, Skynet Trading, ZBS Capital, and others.

04/05/2023:

zkLink further secured a funding of 10 million USD, with contributions from Coinbase Ventures, Cypher Capital, Big Brain Holdings, among others.

Noteworthy investors in the project include Coinbase Ventures, Solana Ventures, Huobi Ventures, Polygon Ventures, and Cyber Capital. This is a positive aspect for those interested in exploring and evaluating the project.

1. Information about ZkLink Token (ZKL):
Public Sale Information on Coinlist:

Launch Date: 25/01/2024
Price and Lockup Terms: $0.15 per ZKL, with 30% unlocked on 31/03/2024 and gradually distributed over the next 9 months.
FDV (Fully Diluted Valuation): $150 million USD.
Percentage of Total Supply Sold: 3.125%
Quantity Sold: 31,250,000 ZKL (ERC-20 token)

2. Information about ZKL Token:

Token Name: zkLink
Symbol: ZKL
Developed on Blockchain: ERC-20
Contract: (To be updated...)
Total Supply: 1,000,000,000 ZKL
Circulating Supply: (To be updated...)

3. How ZKL Token Operates:

Payment: ZKL is used as the primary payment token for creating zero-knowledge proofs and for transactions within the zkLink App Rollup DApps.
Governance: ZKL serves as the governance token for the zkLink protocol, allowing owners to participate in protocol development by proposing and voting.
Rewards: ZKL is rewarded to Validators participating in ZKL staking.
Privileges: ZKL owners have access to unique privileges of DApps, such as transaction discounts and exclusive NFT minting. These privileges are managed by zkLink DAO and supported by eco DApps through DAO Vault.

In summary, ZKL protects the hierarchy of the protocol and encourages community participation, with a limited total supply of 1,000,000,000 tokens, maintaining a non-inflationary model in the long term.