Increment continues to evolve, with significant updates and milestones being achieved in May. In this newsletter, we dive into the recent integration of Zyfi Paymaster, insights from the latest protocol data report, the results of the ETH ETF trading competition, notable honor achievements, and the latest governance and development updates.
Protocol Data Report
Cumulative trading volume of over $550,000
499 in all-time users
Generated over $1852 fees for ETH market LPs
Source: Dune Analytics
Zyfi Paymaster Integration: Gasless Transactions on Increment
Zyfi is a set of tools that leverages zkSync's native account abstraction (AA) to provide a seamless on-chain experience to users. They offer a full-stack solution ranging from a front-end to an API that lets any dApp propose gasless transactions (e.g. Hold an NFT = gasless txs) and enabling users to pay with any ERC-20 tokens.
This integration has enabled completely gasless transactions for Increment users! Thanks to its exceptional user experience, the gas sponsorship will continue indefinitely.
Keep taking advantage of the Zyfi Paymaster for your transactions!
Ethereum ETF Decision Month: Trading Tournament Winners
After an intense competition, the following participants have emerged victorious, showcasing exceptional trading skills and strategy:
Winner of 250 USDC: 0x2b786bd7af48d41263388c63e6613dfe9c6a27e1
Winner of 250 USDC: 0x7818eb7f7fb0de3e01c67784ad868e8987d2e75d
Winner of 1000 USDC: 0x2b5b64df5e31a31d2e48de94b15c2093bc4cc09c
Winner of 1000 USDC: 0x7328581644054052cfc3f455f8a336285b51860a
You will see the prizes deposited into your account within the next week.
Ranked and Honors
The Increment Season 2024: Ranked and Honors program is still ongoing, with currently 54 ranked users on the leaderboard. The top spot is currently held by 0x2b5b64df5e31a31d2e48de94b15c2093bc4cc09c.
Users will be ranked based on their interactions with the Increment protocol. At the conclusion of each corresponding time frame, the following honors will be rewarded:
Elite Profitmaxi: Top 8 ranked traders based on weekly Realized Percent PnL
Max Bidder: Top 8 ranked traders based on weekly Volume
Yield Milker: Top 8 ranked LPs based on monthly Realized Dollar PnL
Cred Star: Top 5 ranked governance participants based on the number of times they voted multiplied by their voting power each month. Excludes all token vested addresses.
Safu Angel: Top 5 ranked liquidators based on number of liquidations executed each month. In the case of a tie, liquidator with the higher safety module staking multiplier will prevail.
Development Updates
The primary focus at this moment revolves around two critical initiatives aimed at enhancing Increment’s functionality and governance:
1. Setting Up the Staking Module and LP Rewards Interface on Testnet
We are diligently working on establishing a comprehensive staking interface as part of our safety module. This interface is designed to allow users to stake their tokens, thereby safeguarding the protocol while earning rewards in return. Additionally, the module will feature an intuitive interface for liquidity provider (LP) rewards as well.
2. Completing the Increment Governance Migration from Ethereum Mainnet to zkSync Mainnet
We are in the process of finalizing the migration of Increment's governance framework from the Ethereum mainnet to the zkSync Era mainnet. This migration aims to leverage zkSync's advanced scalability and lower transaction costs, offering a more efficient and cost-effective governance solution.
Please see Tally for the latest proposals on this migration process.
Increment is a decentralized, algorithmic perpetual swaps protocol building on zkSync Era, featuring automatically concentrated liquidity, dynamic fees and parametrizable pools.
To learn more, visit our Docs
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