However, despite their advantages, DEXs still face several challenges, including low liquidity, high fees, and slow transaction times. To address these challenges, a new approach to decentralized trading has emerged: zkLink.

What is zkLink?

zkLink is a layer-2 scaling solution for DEXs that uses zero-knowledge proofs (ZKPs) to enable fast and cheap trading without sacrificing security or decentralization. zkLink is built on top of the Ethereum blockchain and aims to provide a seamless and user-friendly experience for traders.

How Does zkLink Work?

zkLink works by creating a bridge between the Ethereum blockchain and a layer-2 scaling solution called zkRollups. zkRollups are a type of scaling solution that enables multiple transactions to be batched together and processed off-chain. The result is a significant reduction in transaction fees and an increase in transaction speed.

zkLink uses ZKPs to ensure the security and privacy of user transactions. ZKPs are cryptographic protocols that allow users to prove the correctness of a statement without revealing any additional information. In the case of zkLink, ZKPs are used to prove that transactions are valid and that funds have not been stolen or double-spent.

Benefits of zkLink

1. Increased Liquidity: By reducing transaction fees and increasing transaction speed, zkLink enables more traders to participate in decentralized trading, increasing liquidity for DEXs.

2. Enhanced Security: zkLink uses ZKPs to ensure the security and privacy of user transactions, providing a level of security that is not possible with traditional DEXs.

3. Seamless User Experience: zkLink aims to provide a seamless and user-friendly experience for traders, making it easier for users to access and use DEXs.

4. Scalability: By using zkRollups, zkLink can significantly increase the scalability of DEXs, enabling them to handle a large number of transactions without clogging up the Ethereum network.

Conclusion

zkLink represents a significant step forward for decentralized trading, offering a new approach that addresses many of the challenges facing traditional DEXs. With its use of ZKPs and zkRollups, zkLink provides a secure, scalable, and user-friendly platform that has the potential to transform the world of decentralized finance."

Hackers took advantage of a small flaw in smart contracts, combined with borrowing money from flash loans to rob nearly 200 million USD without any capital. On the afternoon of March 13, Euler Finance was hacked 200 million USD. This is the biggest hack since the beginning of 2023. Users face the risk of losing their assets without being able to do anything. The price of the Euler token has dropped by more than 60% and many DeFi projects have been affected as a result.

Euler Finance and the 200 million USD flash loan Euler Finance is a lending market on Ethereum. The project's TVL as of March 8, 2023 (before the hack) was $312 million and is still growing. The lending market on Euler is more diverse than Aave/Compound by allowing users to list any token that has a liquidity pair with WETH on Uniswap V3.

To understand how hackers attack, it is necessary to understand a few of the mechanisms of Euler Finance.

Tokenised Debt: The user's collateral and loan amount will be expressed as an ERC-20 token.

For example, when depositing DAI tokens into Euler, users will receive eDAI - representing collateral. When borrowing DAI tokens from Euler, users will receive dDai - representing the debt borrowed from Euler. Every time dToken exceeds eToken, users will face asset liquidation. Health Factor (HF): An index showing the safety of user assets compared to borrowed assets and the underlying value of that asset. The higher this number, the safer the loan. Euler encourages users to keep the HF level above 1.25.

Scroll is one of the market-focused Layer 2 solutions using zk-Rollup technology, competing directly with Starknet and zkSync. Scroll is allowing users to experience the testnet. Many investors question whether the project will have an airdrop for early users similar to previous projects like Optimism, Aptos or Arbitrum? Join Coin98 Insights to learn about Scroll and the opportunity to receive airdrop through the following article. Why does Scroll get attention? “Zk-Rollups could be the main Layer 2 solution for Ethereum,” said Vitalik Buterin, founder of Ethereum. This is a rapidly evolving technology and is expected to create buzz in the crypto market. Especially, as the demand for Ethereum scaling solutions is increasing.

Scroll is a project that has been developing ZK-rollups technology that is fully compatible with the Ethereum Virtual Machine (EVM) for the past 2 years. Scroll's system allows for fast and cost-effective transactions. In February 2023, Scroll launched the Alpha testnet on Goerli, the final phase before the mainnet launch. Besides, users can also experience using bridges, moving assets between layers with Scroll testnet.

Scroll Alpha testnet on Goerli. Source: Scroll blog Lens Protocol rolled out on Scroll's Pre Alpha test network. Scroll also collaborates with many prominent crypto projects such as Multichain, Hop Protocol and Orbiter Finance.

Scroll does not currently have a token, but the project is expected to issue the token when it launches the mainnet in Q2/2023. According to the roadmap published on Discord, Scroll mentions that they are creating an incentive mechanism to stimulate users to experience the project. Therefore, traders are expecting an airdrop similar to the previous Arbitrum, Optimism or Aptos.

Scroll potential token launch and token airdrop Usually, projects that already have tokens still have the ability to airdrop to users to promote products and attract new users. However, this requires the project to have strong financial potential to be able to implement this marketing campaign.

Projects that do not have a token but have stable financial potential, a large and stable user base, and are noticed by the media are more likely to launch tokens and airdrops for users. The reason is that this is a great opportunity for the project token to have the opportunity to be listed on major exchanges with minimal costs.

Scroll has attracted a certain number of potential users with the following outstanding numbers:

More than 15,400,000 transactions processed. Over 2 million transactions were made on Scroll Alpha. Over 300,000 transactions are made daily. Over 397,000 wallet addresses. Over 6,300 contracts deployed Over 600 Tokens Deployed The amount of transactions made on Scroll Alpha. Source: Scroll Twitter Besides, according to data from TweetScout, Scroll is a project that Vitalik Buterin is extremely interested in. The number of project followers has also increased dramatically over time, although the number of posts posted by the project on Twitter has not changed significantly.

Interest Scroll on Twitter. Source: TweetScout In April 2022, Scroll successfully raised $30 million in a Series A round. The round was led by Polychain Capital and Bain Capital Crypto, with participation from Robot Ventures and Geometry DAO. In March 2023, Scroll successfully raised $50 million at a valuation of $1.8 billion. Thus, it can be seen that Scroll has quite stable financial potential.

As of now, Scroll has at least 20 employees operating globally. Scroll employees are all experts in zero-knowledge cryptography and distributed systems on blockchain technology.

Owning a certain number of users and being financially stable is a great environment for Scroll to launch tokens and airdrops for users soon.

To have a chance to receive an airdrop from Scroll, users can experience the testnet version of the project by using a bridge on Scroll. In addition, to increase the likelihood of receiving the airdrop, users can swap or add liquidity in the Scroll Alpha network on Uniswap.

Details: https://scroll.io/alpha

Summary

Scroll's token launch and user airdrop is still speculative and uncertain. However, experiencing the project early can give users a chance to receive an airdrop.

When conducting project experience, users need to calculate the cost of implementation, the risk of losing money and time but not receiving the airdrop. Besides, users also need to pay attention to the transaction volume, transaction frequency as well as transaction time to have the highest chance of receiving the airdrop.