To celebrate the listing of ZKS on Coinstore, our CIO Isaac Lee attended the AMA session with Coinstore to share the latest updates and important information about ZKSpace with the community. During the session, we received thousands of questions from the community and we really appreciate your love and interest in ZKSpace. We distributed rewards of 5,600 ZKS in total to show our appreciation, and we would like to say congrats to all the winners. We will host more similar events in the future, so stay tuned! The following recap is prepared for your reference.
Q1. Can you briefly introduce ZKSpace? May you let us know what the team is working on right now and what we can anticipate coming up?
Answer: Sure. Seven months ago, we rebranded ZKSwap as ZKSpace, a fully-functional Layer 2 platform that incorporates DEX, NFT, and payment, i.e. ZKSwap, ZKSea, and ZKSquare. In order to give Layer 2 consumers a seamless product experience and reduce the barrier for users to access the Web 3.0 world, our team has been developing new products and functionalities. This includes the debut of the ZKSpace Mobile APP on iOS and Android, the addition of multi-language options for the ZKSpace Web APP to better serve ZK Astronauts around the world, improved UI and UX designs, and various reward-based campaigns to further educate users about Layer 2 goods, etc.
We are very excited to work with CoinStore for the listing of ZKS, I think this partnership is a wonderful opportunity to reach out to more users out there. Besides this, our team is also developing the revolutionary payment tool ZKSquare to provide everyone with a rapid and affordable batch payment tool, an NFT collection display feature on ZKSea that will allow users to showcase every item in their collections, and the ZKSpace x James Rodriguez NFT series. We also launched our partnership with Banxa to offer fiat onramp solutions for our users.
Q2. We noticed that ZKSpace has been actively promoting the James Rodríguez NFT collection, which brings us to our next point. Can you briefly describe the collection?
Answer: Sure. Our NFT Platform ZKSea has recently achieved a partnership with James Rodríguez, a legendary Colombian football player, to launch his NFT collection. Mr. Rodríguez is considered as one of the most remarkable players in football history. He scored a list of honors including two Champions Leagues, two FIFA Club World Cups, and a World Cup Golden Boot. He’s also a sports influencer on Instagram, with roughly 50 million followers.
The collection is called Zurda, which means left foot in Spanish, and is one of the reasons Rodríguez has become well-known in recent years.
Zurda NFTs are digitally hand-painted by professional artists based on exquisite artwork. The NFT collection will consist of 4 different rarities: 1 Platinum, 10 Gold, 400 Silver, and 1,089 Bronze, with each piece entitling the owner to a commemorative moment in Rodríguez’s career and top-ranking pieces receiving signed memorabilia, whitelist spots for future NFTs issued on ZKSea, stake-to-earn bonuses, and even the chance to have a video call with James Rodríguez himself. I will share with you some of the benefits for the holders of this NFT collection. Regarding the release date, please follow our Twitter and join our Discord channel to get the latest updates.
Q3. You also mentioned the Batch Payment and the Banxa fiat onramp solution? Can you briefly introduce those features as well, is there any special rewards for the community?
Answer: Yes no problem! Besides the NFT collection, we just launched the Batch Payment feature and Banxa fiat onramp solution.
Basically, the Batch Payment tool allows you to send funds to multiple addresses at once. It would be an efficient tool, and it is worth mentioning that there is no such product on the market for Batch Payment and issuing airdrops currently. We are developing this feature to solve the problem of high cost and slow confirmation of Layer 1 transfer, showcase the Layer 2 advantage of instant confirmation and low gas fees, and offer an option for batch payment and airdrop distribution. With Batch Payment, you can transfer funds to up to 60 addresses with only one signature. ZK-Rollup technology ensures that our Batch Payment fees are extremely low.
In addition, with Banxa fiat onramp solution, users can now purchase ETH, USDT, and ZKS tokens through a wide range of fiat currencies with both credit and debit cards. We are also hosting an event to encourage everyone to try out this new channel, and users who qualify will earn ZKS Rewards and win a Limited WL of James Rodríguez NFT Collection. The event is open until August 1st, don’t forget to join us! I will share all the useful links later, you can check out more details of the event through those links. In addition, we are also looking forward to launching World Cup-themed series of events by holding ETH, USDT and ZKS on ZKSpace. Details will be announced later so stay tuned.
Answer: For ZKSpace, there are several things that differentiate us from other platforms, including low gas fees, extremely fast transactions, trust-free and unlimited scalability.
Low gas fee and fast transaction: ZKSwap, one of the products of ZKSpace ecosystem, is the first ETH Layer 2 DEX based on ZK-Rollups. It implements all the functions of Uniswap on Layer 2 and solves the problems of slow transaction speed and high gas fees on the ETH mainnet. Currently, ZKSpace is able to lower the transaction fees by 70% - 90% compared to the Ethereum mainnet.
Trust-free: ZKSwap has been audited by many top-of-the-line blockchain security firms, such as SlowMist and Certik, and is ensured to provide the same security level as the ETH mainnet does. So far, ZKSwap has gone through 3 major version iterations (ZKSwap was rebranded and upgraded to ZKSpace at the end of 2021) and has carried out hundreds of function iterations and optimizations without any security incidents.
Unlimited Scalability: The theoretical TPS can reach 10000+, and ZKSpace team will continue to explore the field of Ethereum scaling solutions and iterate products with the highest user experience.
In the near future, ZKSpace aims to implement EVM-compatible ZK-Rollups and bring the community more Layer 2-based products, for example, Layer 2 Domain Name service
To learn more about our products and services, you can visit our website and subscribe to our newsletter to keep yourself updated.
Q5. How important is the community to your project? And how can we collaborate or help share tokens for the development of the project?
Answer: I would say that community is very important for the following reasons:
The incentive for us to create Lay 2 products for the blockchain community is to provide a better overall blockchain user experience for everyone. This will always be our No.1 goal and priority.
For Layer 2 ecosystem, the user base will control its development, and the more users that use Layer 2, the lower the transaction fee will be. So users are very essential to us.
We would love to distribute our tokens to users and development teams who are interested in Layer 2 ecosystem and it can also be directly transferred to Layer 2 Wallet Addresses to encourage more users to use ZKSpace.
Answer: I would like to mention some of the other things you can do with ZKS:
Pay fees for minting (with a cost equivalent to 2U), listing (for free), and purchasing/selling NFTs on one of the Top Layer 2 NFT marketplaces, ZKSea As of now, 44k+ NFTs were minted on ZKSea, and the transaction volume has reached 303K+.
Exchange tokens, such as ZKS/USDT, ZKS/ETH. You can also participate in Proof-of-liquidity mining and Proof-of-transaction mining to earn yield on your assets. In comparison to the popular Layer 1 platform Uniswap, ZKSwap offers a much faster confirmation process and lower processing fees (0.5U + 0.3% * Trading Volume).
Also, we have prepared some useful links to share with the community for your convenience:
ZKSpace Official Website: https://zks.org/
ZKSpace Fee Structure: ZKSpace
ZKSpace x James Rodriguez NFT Collection: ZKSpace
ZKSea Market Place: ZKSpace - Layer-2 FOR ALL
Banxa Fiat Deposit Event (until August 1st): ZKSpace
Batch Payment Tool tutorial: Batch payment tutorial - YouTube
Follow Us on Twitter: https://twitter.com/ZKSpaceOfficial
Join Our Discord: discord.gg/WpdcVcVTf7
Answer: ZKSpace launched a Layer 2 NFT marketplace called ZKSea earlier this year to solve the high gas cost and slow transaction problems of NFTs. And the James Rodríguez NFT is also coming soon. Visit our website and take a look!
ZKSea Market Place: ZKSpace - Layer-2 FOR ALL
ZKSpace x James Rodriguez NFT Collection: ZKSpace
Answer: Good question! ZKS is currently listed on several exchanges! Of course, it is also listed on the CoinStore! Since you are a member of the CoinStore community, so please feel free to purchase ZKS from the CoinStore!
Answer: As a layer 2 project, ZKSpace is going to solve the scalability problem. Currently, ZKSpace consists of three major products - AMM DEX ZKSwap and an NFT marketplace ZKSea, and layer two-based payment service ZKSquare is around the corner. And these products will provide users with a better user experience and lower gas fees.
Q10. These days, being a Multi-chain platform is an obligation to be considered a competitive project, so can you explain how many chains are you able to support?
Answer: That’s a good question. As a Layer 2 project, we are trying to solve the scalability problem of a heavily loaded Layer 1 network. I understand that Ethereum is currently under a lot of load, followed by BSC. So we are supporting layer 2 solutions of Ethereum and BSC networks. And in the future, we plan to provide scalability solutions to more diverse networks.
Answer: Our goal is to become the most influential Layer 2 project and provide users with a good blockchain experience. To this end, we introduced various products such as Layer 2 DEX, NFT marketplace, and payment solutions. Currently, we are focusing on researching ZK-rollup technology, and we plan to introduce more various Layer 2 products such as Layer 2 Name Service in the future. In the near future, ZKSpace aims to implement EVM-compatible ZK-Rollups and onboard more Layer 2 projects into ZKSpace ecosystem.
The ZKSpace (formerly ZKSwap) platform consists of three main parts: ZKSwap, the first Layer 2 AMM DEX utilizing ZK-Rollups technology, payment service ZKSquare supporting fast and cheap Batch Transfer, and an NFT minting center and marketplace ZKSea. ZKSpace has been running since February 2021 with hundreds of function iterations, and no security incidents have ever occurred. With innovative NFT L1-L2 transfer, unlimited token listing, cheap and smooth deposit & withdrawal and optimized efficiency, ZKSpace aims to implement EVM-compatible ZK-Rollups and bring the community more Layer 2-based products in the near future.