ZKSpace Decentralized Exchange Review

ZKSpace is a decentralized exchange that is based on the ZK-Rollups technology. It’s a Layer-2 full-featured protocol. We can work with NFT and ERC-20 tokens. We can work with low gas fees. The devs can guarantee assets security to us. ZKSwap suggests we use the swap infrastructure and transactions.

ZKSpace overview

• The total value of assets locked in ZKSwap is $16,434,783.
• The total number of accounts is 6310.
• The swap amount is $3,783,991.
• We have rewards of 0.25% for liquidity providers from all trades.

How does ZKSpace work?

• The devs add rewards to the pools from swapping consistently.
• It’s based on  ZK-Rollups under the ZKSpace protocol.
• It implemented Uniswap functions on Layer 2.
• This allows them to reduce fees significantly.
• The DEXes can provide traders with highly secured and confidential transactions.
• Layer-2 allows to decrease fees and increases execution speed significantly.
• Instead of generating Gas Fee from transactions on traditional Dex, ZKSwap transactions on Layer-2 require low Gas Fee, which greatly reduces transaction cost for users.
• The exchange has a high transaction per second rate–6000.
• This is because the users don’t need to wait for confirmation from the blocks.
• It greatly increases user experience.
• An NFT minting interface was opened to all NFT platforms.
• We can mine NFT with zero Gas fee on the Layer-2 network.
• We can trade with almost zero gas fees on Layer-2.
• NFT can be deposited and withdrawn between Ethereum Layer-1 and Layer-2 networks.
• An NFT storefront allows free transactions between users on the Layer-2 network.
• There are mining activities: Proof-of-Stake Mining, Proof-of-Gas Mining, NFT Proof-of-Liquidity Mining, NFT Proof-of-Transaction Mining.
• Any user can participate in community governance with gZKS.
• Tokens allow us to have the rights of voting and proposing.
• Everyone with 1 gZKS can vote.
• gZKS is generated by a 360-day ZKS Proof-of-Staking contract. 
• Any user who participates in the ZKS 360-day PoS mining will receive the corresponding amount of gZKS airdrops at the L2 address weekly.
• The must period of gZKS generated by the existing ZKS360-day PoS contract is 720 days.
• We can govern the system.
• The first step is discussing within the community.
• The proposal can be applied by the person who pledges 50,000 gZKS
• The next step is reviewing in general.
• The pre last step is voting by every gZKS owner.
• Then, the developing and implementation process is going on.

What can you buy on ZKSpace?

• We can purchase gZKS tokens.
• We are allowed to swap our tokens paying pretty low commissions.

Is ZKSpace safe?

ZKSpace is as safe as any decentralized exchange. It means that there are risks involved.

ZKSpace fees, compatible wallets, and transactions  

• The developers charge transaction fees of 0.3% for each Layer2 Swap transaction.
• 0.25% will be automatically delivered to the liquidity provider.
• 0.05% is the protocol fee. All protocol fees (100%) will be used as long-term incentive for the project. We can’t check this claim.
• Each Swap transaction needs to pay a $1 equivalent Gas fee, which is used to amortize the cost of aggregating and packaging the results of multiple transactions on the platform and putting data on ETH blockchain. So, it’s not high.
• We can work with ERC20 Wallet: MetaMask, WalletConnect, imToken, TokenPocket, MathWallet, TrustWallet and NFT Wallet.

What are the ways to trade on ZKSpace?

We can swap tokens as we want. Also, it’s possible to purchase any NFT work.

Customer support

The devs provide average support within Discord and Telegram functionality. 

Should you trade with ZKSpace?