I am a huge fan of ZKSwap and have been very interested in what they’ve been doing for quite some time. This team really is offering a great product and I feel this is just the start of something much bigger, easing cross chain friction. If ZKSwap can knock this one out of the park then the sky is the limit for them, i feel.
BSC Questions and Feedback
- Should the BSC version of ZKSwap issue an independent governance token, dubbed BZKS?
The reason for separate governance token makes sense if there are governance issues related to that specific chain. For example I could see situations where there might be Ethereum specific issues that have no effect for BSC users and thus it would make sense in those instances. The downside though is that It sets a precedence for then creating a separate governance token for each chain.
I was originally against the idea of separate governance tokens but after thinking through a few scenario and also that governance is generally proportional to liquidity provided it makes sense for each chain to have it’s own governance token. Therefore I would suggest that BSC get it’s own governance token “bZKS”.
- What coins should be listed on the BSC version of ZKSwap?
This question seems a bit strange as my thought is “all”. Since BSC and Ethereum behave in similar manners I dont understand why there would be coins not listed. My feeling is if people are willing to provide liquidity for the token then it can be traded.
Why wouldnt the same system used with Ethereum network work? Have major tokens loaded into ZKSwap and then allow users to add what they feel is “missing”. Eventually ZKSwap could act as a launchpad for projects as well with the unlimited token listing feature.
- What fee tokens should be added to the BSC version of ZKSwap?
I personally really like being able to use ZKS as my fee token. Why not keep things simple and offer BNB, ZKS, BUSD or whatever stable coin equivalent is popular on BSC?
I like the idea of eventually being able to use any token in my wallet for fees and feel that would eventually be the next logical step, creating more flexibility for end users.
- What are your expectations for the first Layer2 product on the BSC?
My expectations for the first layer2 product on BSC are that it function essentially the same as the ZKSwap v2 app on ethereum. Users should be able to deposit, withdraw, swap and provide liqudity with ease and for virtually no fees.
Honestly this is but just a stepping stone for ZKSwap. The end goal should be a way to swap and move liquidity cross chain. If ZKSwap can manage to reduce cross chain friction by offering that, coupled with it’s incredibly low transaction fees, it will stay relevant in this space for quite a while.