ZkLink (ZKL)
Froma commissioned Messari report (26-7-2024):
"zkLink is a blockchain infrastructure that streamlines dApp deployment across multiple blockchains by integrating Layer-1 (L1) and Layer-2 (L2) networks. Utilizing zero-knowledge (ZK) proof technology, zkLink ensures high throughput, low-cost transactions, and robust security. Its aggregated rollup infrastructure, secured by zk-SNARKS, integrates native cryptoassets from different blockchains into a single platform. zkLink main products include:
- zkLink Nova: A universal Layer-3 rollup network addressing Ethereum's liquidity and asset fragmentation. Built on Ethereum and its L2s, it supports EVM compatibility and Solidity smart contracts. zkLink Nova aggregates liquidity from Ethereum, Arbitrum, zkSync, and Linea, among others, synchronizing states via Ethereum smart contracts. Its architecture includes sequencing, multichain settlement, execution, and offchain data availability layers.
- zkLink X: An application-specific scaling engine for customized multichain dApp development, connecting L1 and L2 networks. This aggregated rollup infrastructure simplifies multichain deployment, enabling developers to more easily build high-performance applications. Its modular architecture supports customizable data availability solutions and multichain settlement schemes.
Basics
- Based in:
- Started in / Announced on:
- Testnet release:
- "On March 12, 2024, zkLink Nova's Layer-3 public mainnet launched, supporting nine networks, including Ethereum."
Audits & Exploits
- Bug bounty program can be found [insert here].
Bugs/Exploits
"In early June 2024, zkLink Nova’s revenue and transaction volumes declined, likely due to a network outage caused by a bug in the sequencing layer. This bug disrupted transaction processing, causing delays and temporarily halting confirmations."
Revenue
"zkLink Nova generates revenue through its centralized sequencer, which collects transaction gas fees. The sequencer then accrues these to the zkLink DAO vault. In Q2, zkLink Nova’s revenue increased by 3,934%, from $19,000 to $728,000, with average daily transactions rising by 1,740% QoQ, from 8,900 to 163,300. Since zkLink Nova launched on March 11, 2024, this jump QoQ was anticipated due to its limited operation time in Q1."
Usage
"The TVL on zkLink Nova reached an all-time high of $870 million on May 12, 2024. This surge was primarily driven by the partnership with Solv Protocol and Free Bridge, which allowed SolvBTC holders on Merlin Chain to participate in the Aggregation Yield Parade."
