zkSync 2.0 Baby Alpha Mainnet, Account Abstraction, Battle Royale Trading Tournament

Community Newsletter #14: October 2022

The zkSync 2.0 mainnet is almost here! It will be rolled out in 3 phases. First up, the Baby Alpha mainnet will be released on Friday Oct 28th, 2022 where only the Matter Labs team will be able to access it upon launch. The idea here is that Matter Labs will first battle test the infrastructure and ensure everything is working as intended before moving forward to the next stage.

Next up is the Fair Launch Alpha where external teams can deploy their contracts on zkSync 2.0 mainnet. Users will still be unable to access the network at this point - only Matter Labs and external developers will be testing. We will be participating during this phase of mainnet and have received confirmation from Matter Labs.

The final stage of mainnet is called Full Alpha, and this is where users will be able to gain access to zkSync 2.0 and starting trading or earning on Increment - a decentralized, algorithmic perpetual futures protocol that empowers on-chain global exchange rate and crypto derivatives.

Account Abstraction

A major feature on zkSync 2.0 that we are excited about is Account Abstraction (AA), see the thread below from Argent for an explanation on AA:

Argent @argentHQ

What is Account Abstraction? AA turns every account into a smart contract with its own logic. This is huge because it enables everyone to have an account adapted to their needs, with seamless compatibility!

Argent @argentHQ

Account abstraction (AA) is one of the hottest topics being discussed at the moment. Leading L2s like @zkSync and #StarkNet support it. But what is AA? And why should you care? Let us explain...

As described by Argent, account abstraction moves Ethereum from having two types of accounts, Externally Owned Accounts (EOA) and Contract Accounts to just one - Contract Accounts. These Contract accounts can initiate transactions and pay transaction fees, and be customized to users’ needs.

Not only does this have the potential to boost the UX of on-chain transactions in order to compete with that of centralized counterparts, but also offers a path to mass adoption for decentralized, on-chain applications all around.

Here at Increment, we have plans to leverage AA, especially the Multicall feature, for a variety of ways to enhance the trading experience of our perpetual futures. These include limit/stop-loss orders, collateral spot swaps, and much more in the pipeline!

Battle Royale Trading Tournament

Currently, we have over 2000 traders signed up for the Battle Royale trading tournament and we are excited to begin the event on November 2nd (tentatively) when we are able to redeploy our smart contracts to zkSync 2.0 testnet. The reason for saying “tentatively” is because we have yet to successfully redeploy our contracts to the network since its regenesis. It has been largely due to an issue with Vyper support on zkSync 2.0 testnet and we are actively communicating with the Matter Labs team to resolve this issue.

We will keep you posted on the progress and we are still hopeful for a start date on November 2nd! Appreciate your understanding and patience.

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Increment is a decentralized, algorithmic perpetual swaps protocol building on zkSync 2.0, featuring automatically concentrated liquidity, dynamic fees and parametrizable pools.

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