Zigzag Exchange is an Ethereum Layer 2 (L2) decentralized exchange (DEX) built on blockchains utilising Zero Knowledge (ZK) rollups.

ZK rollups quick primer

ZK rollups are a superior form of Ethereum scaling technology which will bundle transactions on Ethereum L2 leading to quicker transaction speeds and negligible fees.

As a recap, rollups are scaling solutions that perform transaction computation outside the main Ethereum chain (i.e. L2) but post transaction data on L1. As the data lives on L1, it is considered secured by L1, inheriting its security properties.

There are two forms of rollups with different security models, optimistic rollups and ZK rollups.

Compared to Optimistic rollups, ZK rollups are less vulnerable to economic attacks that Optimistic rollups are vulnerable towards since the state is instantly verified and sent to Layer 1.

They also do not require a challenge period and hence allow for fast withdrawals to Layer 1, meaning they are great for exchanges and other apps that require simple payments.

Ethereum explained — what is Ethereum and how it works

Ethereum is an open-source, public, blockchain-based distributed ledger featuring programming functionality.

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Zigzag Exchange

Zigzag Exchange is a decentralized exchange focused purely on being powered by ZK technology. It believes that ZK is the end-game layer 2 solution to Ethereum’s congestion on the mainnet.

Unlike many DEXes that you see today, it uses a decentralized order book model, instead of an AMM model like Uniswap — where slippage and front-running might be present — since scalability is resolved with ZK rollups.

Zigzag Exchange offers decentralized trading at scale without registration, fast transaction speeds and low slippage and fees.

They launched the dApp in October 2021 on zkSync 1.0 with 3 initial pairs — ETH/USDT, ETH/USDC, USDC/USDT, and currently offers a growing list of pairs on its exchange.

How to trade on Zigzag Exchange

Trading on Zigzag Exchange is not exactly the most straightforward process — it requires some setup given ZK infrastructure is currently in its initial stages and not many wallets and exchanges support this technology.

However, let’s walk through the process in detail:

Step 1: Setup wallet with ETH

You’d need an Ethereum wallet with ETH loaded. We recommend using trustworthy wallets like Metamask, Rainbow Wallet, Trust Wallet or Ledger X.

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You can fund your wallet with ETH from a centralized exchange like Binance, FTX, Gemini or Crypto.com.

Step 2: Bridge ETH to zkSync

The second step is to send ETH from the Ethereum mainnet to zkSync, you can use the official zkSync wallet to do so.

Head over to zkSync Wallet and connect your Ethereum wallet.

zkSync Wallet

Click + Add Funds and select ETH.

Enter an amount and click Add funds, this will send funds from ETH L1 to zkSync.

Once funds are sent to zkSync, you’d need to also activate your zkSync wallet to use it. The transaction fee to activate your zkSync account is roughly 0.003 ETH.

Step 3: Head over to Zigzag to trade

The final step is to head over to Zigzag, connect your wallet and sign the zkSync message.

Once completed, you can start trading on Zigzag — it functions similar to an order book exchange like Binance. However, as of this article, you can only place market orders on the exchange, limit orders are disabled.

Use the order form below to place buy and sell orders.

You can see the status of your order below.

To view your transaction, simply use the link on the order status column or view it on the zkScan explorer.

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