Symbiosis integrates zkSync: ‘Natural evolution’ of scaling solutions
Cross-chain automated marker maker Symbiosis has onboarded layer-2 scaling protocol zkSync to improve speed and reduce fees of token swaps on its platform.
The decentralized exchange (DEX) was launched in March 2022. It provides single-sided stablecoin pools that deliver zero impermanent loss to liquid providers. It also facilitates “any-to-any” native asset swaps on its platform across Ethereum Virtual Machine (EVM) and non-EVM networks.
Nick Avramov, a co-founder of Symbiosis, told Cointelegraph that the integration of zkSync will provide one-click swaps from Ethereum, Polygon, Avalanche, BNB Chain, Telos and other blockchains to zkSync and back.
The additional functionality also removes the need for users to switch between different wallets and interfaces. Avramov also confirmed that the integration improves the variety of token swaps through its DEX, supporting any-to-any native swaps to and from zkSync.
Related: ConsenSys zkEVM set for public testnet to deliver secure settlements on Ethereum
The integration of zkSync is also aimed at making liquidity transition to and from zkSync “secure, fast and cheap.” Avramov highlighted the importance of layer-2 scaling protocols to various decentralized finance (DeFi) platforms and services.
The Symbiosis co-founder also highlighted his personal view that zero-knowledge rollups could outcompete Optimistic Rollup solutions like Arbitrum and Optimism. Avramov also believes it is crucial for cross-chain players and interoperability layers to support zero-knowledge solutions as soon as possible.
Symbiosis has processed over $100 million in total transaction volume in stablecoins, serves over 12,000 unique wallet addresses, and has an average of 3,000 daily transactions.
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