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Thread Contest, Public Testnet and More
Community Newsletter #20: May & June 2023
It has been a little over 2 months since zkSync Era launched and here are some astonishing statistics. According to DeFiLlama, as of June 14th 2023, zkSync Era has a $175 million TVL making it the third largest Ethereum Rollup in terms of TVL, ahead of Metis and Polygon zkEVM, and just behind Arbitrum and Optimism. It is also the third largest L2 in terms of 24h volume, coming in at approximately $11 million.
zkSync Era is off to a great start. We are witnessing history being made as one of the first major zkEVMs is brought into reality. The zkEVM will help scale the adoption of on-chain activities and we are excited for the tremendous potential ahead.
Increment’s launch on zkSync Era is conducted in incremental (no pun intended) steps. In May, we released the latest technical documentation and successfully held a Twitter Thread contest with our community. In June, we also launched the Increment public testnet on zkSync Era Goerli for anyone who is interested to try out, more details will be shared below.
Technical Docs and Threads
At Increment, we strive to provide transparent and detailed explanations for all functionalities as well as limitations of the Increment smart contract system. Hence, we released our latest technical documentation, which takes a deep dive into all system workflows, smart contract design, economic parameters, and more. We aim to uphold the same market standard as other leading DeFi protocols in being open and transparent with all system components and potential risks.
In order to spread the word and provide more educational resources on the Increment system, we announced the Increment Twitter Thread Contest. It was great to see community members from around the world speaking in different languages participating, and at the end of the two week contest period, we had 12 winning threads. Here’s a peak into one of them:
Congratulations to all winners 🎉
realredsteel, vammac, BOBOBOI, Dmytro Kot, adityapratama.era, tuya, Krisna, HAPPYJACK, hakuna, puddington, user209, bugwizha
The Increment public testnet is open to everyone! Just grab your browser extension or mobile wallet, claim some test USDC from the official zkSync Era faucet, and you can try out Increment!
The source cred system has now been terminated since we have on-chain governance. Cred holders will continue to hold their role but in the future, it may be replaced by active on-chain governance participants.
Increment is a decentralized, algorithmic perpetual swaps protocol building on zkSync Era, featuring automatically concentrated liquidity, dynamic fees and parametrizable pools.