SyncSwap Reaches $5 Million In TVL After Launching On zkSync Era

Key Points:

• DEX SyncSwap is now live on the zkSync Era.
• SyncSwap has also launched a Testing program for early participants.
• The DEX announced it reached $5 million TVL 3 days after launching.

SyncSwap, the decentralized exchange on zkSync 2.0 (now known as zkSync Era), has officially gone live.

SyncSwap is a decentralized hybrid exchange with Automatic Market Maker (AMM) on the zkSync Era, Ethereum’s next frontier.

This project, which was launched in April 2022, had a campaign seeking testnet participants, and it is anticipated that participating members would be airdropped. 

The DEX is EVM-compatible and offers a standard Web3 API, ensuring a consistent user experience.

SyncSwap claims that with its freshly designed interface and fantastic Layer 2 technology, consumers will have the smoothest trading experience ever while using even more functionality.

Several features are included in SyncSwap, including pool metering support, configurable charge structure, sophisticated routers, voting and governance escrow token architecture, and many more.

With a freshly developed interface and powerful Layer 2 technology, the floor is particularly focused on user experience. Users will have the smoothest trading experience ever, with maybe more features.

Layer-2 solution zkSync unexpectedly announced the launch of zkSync Era, the first zkEVM platform to open on Ethereum, on March 24.

According to Dune Analytics, zkSync has reached over 2 million transactions this week, with the 7-day average transaction volume reaching a record high. The total number of transactions has already crossed 20 million. This is a significant advancement with the release of the zkSync Era.

The DEX also reported a TVL of $5 million, which is a significant amount.

SyncSwap previously sponsored a Testing program, however, they did not make it clear what the benefit of participation would be. But, there are still many individuals taking part in Testing and giving to the project through the Gitcoin platform. As a result, there is a good chance that there will be prizes for people who participate early and give on Gitcoin.

The project is a new application that focuses on user experience and the still-young Zksync ecosystem. Needless to add, if SyncSwap requires significant investment funds, the airdrop contribution will almost probably be substantial. Unfortunately, no formal statement has yet been made by the development team.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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