Lighter has issues for a user seekig rewards -- the product is not even close to Hyperliquid. So to use it you would be reward not product oriented.
1. The company pivoted into a DEX from a different startup and has two complete sets of investors and VCs with token interest claims.
This puts you the reward seeking user in a very deep hole. Astronomically bad odds for you.
2. The points distribution is enormously skewed to the first few weeks where the hand selected users got huge points for small activity -- tremendous multiples.
3. As most users are significant losers in perp trading you need a reward and these claims sets of claimaints are multitudes ahead of you.
Good luck and change my mind if you can.
Interested in viable exchanges but do not think Lighter will be it for a user showing up today.
r
Lighter vs Hyperliquid
Wassup frens! A lot of you probably noticed @Lighter_xyz popping up in your fav DEGENS feed lately - some are calling it HL 2.0. But let’s dig a bit deeper:
First off, it’s being built on ZK (Zero Knowledge). zkSync fumbled the bag, yeah… but the underlying tech is still GIGA BULLISH
In simple terms: lets you prove you know/have something, without revealing what exactly you know
Example: degen wants to send 1 BTC and is asked to prove he has it. ZK proves he have it without doxxing your wallet or full balance
This is where the massive difference from HL kicks in. Anyone can track wallets, and big position alerts (like James Wynn) spread in minutes
Bigger players want privacy and that’s where Lighter SHINES
Even @cz_binance tweeted recently he wants to launch a ZK based DEX. Maybe to rival HL after the jellyjelly beef, or maybe MMs hunter paranoia vibes
Anyway Lighter ain’t just another perp DEX. It’s something new, something kinda breakthrough!
LiGhTeR TrEnChEs WiTh:
@vnovakovski @cryptoyaos @0x_Swiper @babastianj @33lessons @manud_p @satoshiheist @mttbck17 @IPALAU1 @izebel_eth @hansolar21 @derteil00 @whitesocks256 @evadacat @0xTria @YippieDeGod
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PANews
Judging from the current results, after the gas fee of the Ethereum L1 mainnet has dropped to the lowest in 5 years, many projects feel that it seems that it is not impossible to deploy in L1, so many people will ask, what core problem is L2 solving now?
There's an age-old topic called the impossible triangle of blockchains, which, according to Vitalik, is the only choice between security, decentralization, and scalability.
Going back to the technical essentials, this is what L2 is supposed to solve:
First, the state summary is placed on L1 and is maintained by the mainnet [security];
Second, try to keep the sequencer as decentralized as possible;
Finally, scalability is achieved by L2 as cleverly as possible off-chain.
Different L2 solutions have their own advantages, and everyone is familiar with OP series rollups and ZK series rollups. Today I want to talk about something different, such as Based-Rollup.
The Based L2 solution was also proposed by V God first, and L2 for example, Taiko has been pushing the Based Rollup idea.
PS: Note that it is Based, which has nothing to do with Coinbase's Base, which is also OP-based.
As we all know, a standard OP system is an L2 system, and the sequencer has a lot of power, it can decide who trades first and who trades last, and can profit from MEV even if it is not evil. That's why Metis, for example, proposes a decentralized sequencer.
Different L2s also have different approaches to MEV: Arb, for example, advocates fair treatment of MEVs (strictly on a first-come, first-served basis), while OPs are more encouraging, believing that MEVs are free market practices and therefore taxing MEVs. Either way, the L2 sequencer is in a position where it stands out.
So Based-Rollup chooses to swing the knife at the sequencer - its idea is to directly let ETH L1 do the sorting, so as to limit the power of the L2 sequencer.
To quote a diagram from @taikoxyz documentation:
As you can see, it's a three-step process:
In the first step, the L2 searcher packages the L2 transaction and sends it to the L2 block builder.
In the second step, the L2 block builder builds the block;
In the third step, L1 searchers include the L2 block in the block they built in L1.
And here the L1 searcher and the L2 builder it can be the same person.
In fact, there is redundancy in the device performance of L1 searchers, and there is no pressure at all to build an extra Taiko L2 block.
To use an inappropriate analogy, if ETH and L2 are compared to the relationship between provinces and cities, then the idea of the Based Rollup is to have the mayor (L2 builder) also serve as the deputy governor (L1 searcher), which actually uses L1 resources to protect L2 security.
Taiko has been from TGE for exactly a whole year now, and Token Unlock is about to start, so Taiko has also brewed a new idea called Based Booster Rollup/BBR for a year.
The idea that Booster Rollup can also be used as a mirror image of L1 is also interesting, but due to space constraints, the analysis of Booster Rollup will be expanded on in the next article.
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Omar
There's a little easter egg at the bottom of the Prividium webpage...private atomic interop between two prividiums...
It's not just about a single private L2s for one institution. It's about connecting them all with privacy
ZKsync (∎, ∆)
1/ Introducing ZKsync Prividium: an enterprise-grade blockchain platform for secure, compliant onchain finance.
Private. Permissioned. Anchored to Ethereum.
In use by @Memento_Bc: an institutional entry point to the Elastic Network designed for compliant asset origination. 🧵
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Marco (∎, ∆) and reposted
Wei Dai
Prividium offers web3 security with web2 privacy.
Web3 security: chain is validated by Ethereum L1 w/ zk validity proofs, also offering censorship resistance (via L1 forced inbox) and self custody.
Web2 privacy: all data is private to external observers and only visible to the chain operator. RPCs are only visible to authenticated users.
This is probably the best approach to bring crypto w/ privacy to the masses in the short term, until we sort out decentralized or committee-based data custody.
ZKsync (∎, ∆)
1/ Introducing ZKsync Prividium: an enterprise-grade blockchain platform for secure, compliant onchain finance.
Private. Permissioned. Anchored to Ethereum.
In use by @Memento_Bc: an institutional entry point to the Elastic Network designed for compliant asset origination. 🧵
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_gabrielShapir0 reposted
porter | ZKsync ∎
There's a long history of projects trying to make custom chains for institutions. Most of these projects have tried to achieve interoperability by making everything completely public, which doesn't work for a lot of compliance use cases.
ZKsync Prividiums offer both interoperability and user confidentiality. Thanks to the power of ZK proofs, chains can keep their data to themselves, while proving to others that everything is working properly.
I'm very excited Zksync Prividiums are in production already. ZK really is the endgame 😁
ZKsync (∎, ∆)
1/ Introducing ZKsync Prividium: an enterprise-grade blockchain platform for secure, compliant onchain finance.
Private. Permissioned. Anchored to Ethereum.
In use by @Memento_Bc: an institutional entry point to the Elastic Network designed for compliant asset origination. 🧵
The current price of ZKsync is $0.054340. Over the last 24 hours, ZKsync has increased by +0.84%. It currently has a circulating supply of 3,675,000,000 ZK and a maximum supply of 21,000,000,000 ZK, giving it a fully diluted market cap of $199.37M. At present, ZKsync holds the 128 position in market cap rankings. The ZKsync/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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ZKsync is a Layer-2 zero-knowledge (ZK) rollup designed to scale the Ethereum network and reduce the cost of transacting on the blockchain. ZK rollup, which underpins the platform, is a trustless protocol that allows validators to confirm a transaction's authenticity without revealing any information about the transaction. As a result, the protocol preserves user privacy and security on the network while supporting faster and cheaper transaction processing.
Built by Matter Labs, ZKsync is the first zkEVM (Ethereum Virtual Machine) chain. It's designed to "look and feel like Ethereum," according to the project team, to help simplify adoption. Meanwhile, just like Ethereum, smart contracts are written using the Solidity and Vyper smart contract languages, and can be called via the same clients as other EVM-compatible chains.
How does ZKsync work?
ZKsync adopts ZK technology, a cryptographic method used to confirm the proof of a statement while obscuring any information about the statement itself. Think of the technology like an identity card that confirms you're an adult without revealing your actual age, name, or any other personal details.
ZK rollups help to improve the scalability of the Ethereum blockchain by performing computation and state offchain. The solution bundles transactions together at Layer-2 before they're posted on Layer-1. This method allows users to benefit from all the security advantages of Ethereum's base network but with higher throughput and lower fees.
ZKsync is compatible with EVM, and almost every smart contract written for EVM will be supported by the platform. That means most projects can be migrated over to the network with little to no modification.
Why is ZKsync significant?
ZKsync helps to address one of the most pressing limitations of the Ethereum network — scalability. Ethereum's relatively limited transaction throughput can lead to network congestion during periods of high demand, an issue that's only compounded as more users adopt the network. Meanwhile, congestion can lead to high gas fees, making transactions and interactions with decentralized applications costly. High latency is another challenge impacting the network's performance, as transactions are typically confirmed in a relatively slow 13 to 15 seconds.
ZKsync's use of ZK technology helps to ease these limitations while providing a platform that retains Ethereum's robust security and familiar usability. In theory, this should incentivize more developers to adopt Ethereum, strengthening the network's appeal at a time when competing solutions continue to launch.
ZK price and tokenomics
The ZK token has a total circulating supply of 21 billion. In June 2024, an airdrop was completed to distribute 17.5% of the token's supply to the project's community. Of the approximately 3.6 billion tokens reportedly airdropped to 695,232 wallets, 89% went to those who'd transacted on ZKsync — although the exact criteria wasn't announced — with 11% going to ecosystem contributors. This included ZKsync native projects, onchain communities, and builders. Meanwhile, 49.1% of the ZK supply will reportedly be distributed through "ecosystem initiatives", while 17.2% will go to investors and 16.1% will be allocated to Matter Labs members.
Due to a lack of liquidity, no ZK price was available as of the June 2024 ZK token airdrop. However, based on existing pre-launch futures available on Aevo, ZK perpetuals look to be trading at about $0.22.
About the ZKsync founders
ZKsync was developed by Berlin-based blockchain developer Matter Labs. The company was founded in 2018 by Alex Gluchowski and Alex Vlasov, and first deployed ZKsync to a closed testnet in December 2021. The platform was made publicly available on the mainnet on March 24, 2023.
The Matter Labs team, comprised of engineers, researchers, and technical experts, has made clear its focus on redrawing the limits of blockchain scalability through zk technology and open source developments. The organization is working towards the mainstream arrival of public blockchains, and is backed by numerous major players in the space, including the Ethereum Foundation.
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 1.7K new posts about ZKsync, driven by 1.1K contributors, and total online engagement reached 232K social interactions. The sentiment score for ZKsync currently stands at 79%. Compared to all cryptocurrencies, post volume for ZKsync currently ranks at 2363. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of ZKsync.
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1,728
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1,130
Interactions
232,339
Sentiment
79%
Volume rank
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Posts
1,572
Interactions
227,107
Sentiment
79%
ZKsync FAQ
How much is 1 ZKsync worth today?
Currently, one ZKsync is worth $0.054340. For answers and insight into ZKsync's price action, you're in the right place. Explore the latest ZKsync charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as ZKsync, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as ZKsync have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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