ZKSync Era is a general-purpose zk-rollup platform from Matter Labs aiming at implementing nearly full EVM compatibility in its zk-friendly custom virtual machine. It implements standard Web3 API and it preserves key EVM features such as smart contract composability while introducing some new concept such as native account abstraction.
This proposal asks that Synapse deploy a bridge to connect ZKSync Era to the rest of the EVM chains we interconnect. Synapse can enable this connection by launching a new liquidity pool on ZKSync comprised of nUSD and USDC, the leading stablecoin on ZKSync currently. Assuming a passed proposal and successful integration, there will be ways to further integrate Synapse into the ZKSync ecosystem.
Developers, projects, and users can now build on and bridge funds to experience the power of ZKSync’s long awaited zkEVM Mainnet, which uses succinct zero-knowledge (ZK) proofs capable of enforcing the integrity of arbitrarily large computations, verifiable by anyone with no more than the power of a smartphone.
After Arbitrum’s successful airdrop campaign, which saw Synapse bridge close to 150 million $ in a single day, the next most eagerly awaited confirmed airdrop will be of ZKSync, announced as an effort to decentralize its ecosystem. ZKSync has raised roughly 4 times as much as Arbitrum and on chain natives are looking for easier ways to bridge there and conduct activity, in hopes being included in the airdrop.
According to Defillama , since March 23 stablecoins TVL on ZKSync has grown by 24 million dollars, with a lot more near term inflow expected.
Synapse can connect the ZKSync ecosystem to the remainder of the multi-chain EVM ecosystem, enabling users to bridge assets that exist on chains like Arbitrum, Optimism, Avalanche, BNB Chain, and more. Increased users and assets will help accelerate ZKSync’s growth plans, introducing Synapse’s unique user base to the new blockchain ecosystem. In tandem, increased volume through Synapse grows the protocol and expands Synapse to a new suite of ZK enthusiasts.
To connect ZKSync with other blockchains, this proposal calls for deploying Synapse on ZKSync, specifically deploying a new liquidity pool on the ZKSync Era comprised of nUSD and USDC. This new pool would allow users to directly swap their stablecoins on one blockchain to USDC on ZKSync. Similarly, this new pool would allow users to directly bridge their USDC from ZKSync into stablecoins on any of the blockchains supported by Synapse.
The target TVL for the new pool will be $1 million USD. In order to achieve this, the proposal requests the Synapse DAO incentivize this new pool with a 3k SYN per week, to target 15% APR
The fee structure for the new pool will be 5bps for bridge and 1bps for swap.