zkSync Leads the Airdrop Hype After Arbitrum’s

The total deposits to zkSync goes past 150 Million in TVL within two weeks of its Alpha Launch, according to L2Beat.

An aspect favorable for the recent surge in deposits could be the hype surrounding its upcoming airdrop. On March 24, the Mainnet for the zkSync era was launched following the Arbitrum airdrop. 

In a rush to farm the next airdrop, zkSync has emerged as one of the most popular options.

Furthermore, ZK-rollups are one of the popular trends in crypto now, and tokens of projects implementing them are soaring. As a ZK-rollup project, ZkSync is one of the most backed-up projects, with over $480 million raised. The roll-up mechanism allows Ethereum to scale by offloading transactions from the Mainnet to a layer-2 network like zkSync. 

The network has seen more than 4.81 million transactions since March 24. In a single second, the network is capable of processing 4.52 transactions.

Furthermore, deposits in decentralized exchanges and derivatives trading platforms on zk-Sync Era increased the total value locked in DeFi applications to $71.12 million on April 7.

The top four Decentralized Exchanges (DEXs) comprise 95% of the total DeFi TVL of the zkSynch era. In terms of total liquidity locked (TVL), SyncSwap represents 48.5% of the total value of DeFi protocols. Mute, SpaceFi, and GemSwap are the following three largest DeFi protocols, each with a TVL of $14.7 million, $9.034 million, and $5.966 million, respectively.

Further, the DEXScreener data indicates that recent launches of meme coins like ZKDoge, ZKInu, and ZkSync SHIB have attracted millions of dollars in trading volumes.

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What is zkSync:

zkSync is an Ether and ERC20 token transfer layer 2 solutions. The L2 protocol positions itself as an Ethereum scaling and privacy engine. The project is based on a zero-knowledge (ZK) rollup architecture that allows for "unlimited" Ethereum scaling.

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Learn more about zkSync:

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