• 13 July, 2024
News

SyncSwap Era Testnet is Live on zkSync Era

SyncSwap Era testnet is reportedly live on zkSync Era testnet. With the development, SyncSwap now features a powerful multi-pool technology that enables seamless and efficient trading.

The multi-pool technology enables SyncSwap to agglomerate numerous pool models (with optimal scenarios) to boost trading efficiency. The pool model that would debut is the Stable Pool.

Making the announcement, SyncSwap tweeted:

https://twitter.com/syncswap/status/1630794951595556864

The Smart Pool tends to support enhanced stablecoin trading as against the Classic Pool. With this, SyncSwap ventures into the burgeoning stablecoin markets. 

SyncSwap states on its Mirror.xyz blog, As a member of the forefront of the crypto world, we made future-proofing one of our core ideas when building SyncSwap.

Multi-pool is a next-generation design towards the future. Unlike designs that are conservative to change, multi-pool is infinitely scalable and will become more powerful as the model expands over time.

SyncSwap’s core architecture has been “overhauled” to boost its scalability and composability. A number of fresh features have been added to SyncSwap to make it even more powerful. SyncSwap has also initiated in-depth “UI upgrades to optimize the UX.” 

The development brings new features to SyncSwap, such as multi-pool, pool wizard, vaults, smart router, zap, dashboard, permit, and WETH. “SyncSwap now aligns with the mission of zkSync to accelerate the mass adoption of crypto and Ethereum,” states SyncSwap.

With the vault, storing of funds is now done via a “permissions-less vault for unified escrow of funds.” It now supports flash loans (to enable additional revenue streams for the protocol). Now token transfers with lower gas costs can be done even with no transfer taxes.

With the new Smart Router, searching for the most efficient pool model is possible with the support for multi hops and route splitting. Users can now easily get the best price with efficient trades. SyncSwap has built a “new generation of WETH for zkSync Era” to initiate “gasless approval via signatures with Account Abstraction (AA) support.”

SyncSwap is a seamless decentralized exchange (DEX) on zkSync Era (by MatterLabs). SyncSwap is a zero-knowledge technology-powered DEX that offers simplified and low-cost DeFi having the security of Ethereum.

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