What is ZKEX? ZKEX is a DEX that allows users to trade tokens between blockchains. So what’s special about this project? Let’s find out through the article below.
Project Overview
What is ZKEX?
ZKEX is a DEX that allows users to trade tokens between blockchains. Unlike current DEX exchanges that use the AMM mechanism, ZKEX uses an order-book mechanism to bring an identical experience to current CEX exchanges such as: Binance, CoinBase… ZKEX is currently built on platforms Leading platform in zero-knowledge technology such as Starkware, zkLink, zkSync.
Mechanism of action
To start trading, users need to deposit money into their ZKEX account and they can withdraw at any time with the security of Zero-knowledge Proofs technology.
- Step 1: User deposits money into ZKEX account.
- Step 2: They can trade coins that ZKEX supports.
Highlights of ZKEX
- Multi-chain trade: Users can easily trade spot or derivatives with the order book mechanism. It is quite similar to dYdX but ZKEX is multi-chain.
- Cheap fees: The protocol will charge 0.2% to order takers and 0.1% to order placers. Additionally, the only fee you have to pay if you use ZKEX is the gas fee paid to the Blockchain when depositing and withdrawing from Metamask to the ZKEX wallet.
- Security: With zero-knowledge technology, potentially dangerous behaviors (even from the ZKEX team) are eliminated.
- No detention: The user’s assets will be held entirely by the user.
- Sure: With the order book mechanism like the current CEX exchanges, traders can control the price to avoid MEV attacks and the risk of price slippage in trading pools.
- Flexible: Supports multiple chains, especially new chains, trading options can be added.
Users can also use Stablecoins, LP tokens as collateral to borrow out other Stablecoins for many trading purposes in ZKEX.
Besides, ZKEX also provides a number of features for traders such as:
- Limit Order (ready)
- Market Order (ready)
- Stop Market
- Stop Limit
- TrailingStop
- Take Profit
- Take Profit Limit
Loving Development
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Core Team
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Investor
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Tokenomics
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Exchanges
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Project Information Channel
- Twitter: https://twitter.com/ZKEX_Official
- Website: https://zkex.com/
- Telegram:
Summary
The battle of DEXs in the layer 2 ecosystem is becoming more exciting. Hopefully through the article, everyone has an answer about what ZKEX is.
