Path to Mainnet Update and Community Activities

Community Newsletter #21: July 2023

This month’s newsletter came a bit early! We’re going to look ahead into the month of July in this month’s edition, which will be filled with exciting developments and activities.

Path to Mainnet Update

First things first, the question “Wen Mainnet?” is surely on everyone’s mind, so in the following section let’s sync up on some updates.

It has been 3 months since zkSync Era launched on mainnet, but we have not seen the likes of Uniswap, Curve, Aave, etc deploy onto the network yet, why is that? 

One of the main reasons is due to the current method of how block timestamps numbers are returned on Era. Currently, timestamps on Era (L2) are based on when transactions are batched and settled on L1, which is at quite arbitrary times compared to when transactions actually occur on the L2. This can cause potential problems and time discrepancies in oracles, liquidations, etc for many DeFi protocols and for Increment specifically, funding rates as well.

Just 2 weeks ago, zkSync announced an upcoming change to the method of how timestamps are calculated which will fix this issue. Instead of returning the timestamp number of the L1 batch, they will return the number, timestamp and hash of the L2 block. Please see: https://github.com/zkSync-Community-Hub/zkync-developers/discussions/32

As it states in the announcement, the ETA for implementing this change is around July and August. After the timestamp issue is resolved, we should see more DeFi protocols enter the zkSync Era ecosystem. Curve V2 and Chainlink are at the top of our list, so we can get Increment live and running!

The pieces are slowly coming together, expect an exciting Q3 ahead!

Community Activities

Summer is a time for activities! We’ve got a few things happening right now and more activities planned, stay tuned.

• Trader’s Handbook: Arbitrage 101 if you would like to participate, please answer these 7 questions to the best of your ability: https://tally.so/r/mRd1EQ

  Writers of the best answers will also receive the Elite Profitmaxi role!

• Testnet App is available to try out: https://testnet.increment.finance/

  Faucet: https://goerli.portal.zksync.io/

  Guide: https://docs.increment.finance/increment/protocol/user-guide

• Upcoming updates to testnet include additional markets to try out and a leaderboard

• Translation bounties will also be issued to make the app available in multiple languages

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Increment is a decentralized, algorithmic perpetual swaps protocol building on zkSync Era, featuring automatically concentrated liquidity, dynamic fees and parametrizable pools.

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