No Regulation

Score

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/10

zkSwap

China

|

1-2 years

Suspicious Regulatory License|

Medium potential risk

https://zkswap.finance/swap

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zkSwap
https://zkswap.finance/swap
Influence
E

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No effective regulatory information has been founded yet, please pay attention to the risks!

WikiBit Risk Alerts

1
Previous Detection 2024-11-12

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

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New Arrival

Company Name
zkSwap
Regulatory Status
No Regulation
Abbreviation
zkSwap
Platform registered country and region
China
Phone of the company
--

User Reviews

More

12 ratings

Participate in evaluation
Romain
Disappointing content on compliance, lacks depth and clarity. Regulatory concerns remain unaddressed. Emotional response: Underwhelming compliance info, leaves much to be desired.
2024-09-21 11:58
0
Ifty A
Lacks innovation, weak market demand, limited potential, disappointing performance, questionable team credibility.
2024-06-22 19:16
0
Sanam
Lack of transparency and security concerns in zkSwap Funding. Disappointed with the level of transaction security. #disappointed #concerned
2024-06-08 13:08
0
Immaculate Linda Qoz
Regulatory challenges impacting operations. Emotionally charged summary: Navigating complex policies requires strategic agility.
2024-05-14 21:38
0
Thomas Goff
Innovative and promising platform for contract trading.
2024-08-17 23:19
0
thamnguyen
Interesting selection of trading varieties, but room for improvement. Exciting potential but needs more depth.
2024-07-18 22:08
0
cahaya langit
Exciting update on funding security in the crypto space, impressive transaction transparency! 💰🔒
2024-08-21 16:12
0
mike555
Efficient and cost-effective transaction fees with zkSwap, improving user experience and boosting overall satisfaction. Great value for money.
2024-05-21 23:26
0
Zohaib Niazi
Exciting potential and strong technical foundation. Bursting with innovation and promise.
2024-08-25 14:16
0
Ylrebamm
Exciting feedback on zkSwap's excellent security against hackers! So reassuring!
2024-07-25 00:15
0
ychill
Regulatory policies vary by region, impacting operational practices. Summary: Interactive and emotionally engaging analysis.
2024-06-29 21:45
0
Howard G.
Exciting insights on regulatory policies across regions, sparking curiosity and passion. Amazing perspectives shaping the future!
2024-05-19 00:56
0
AspectDetails
Company NamezkSwap
Registered Country/AreaChina
Founded Year1-2 years ago
RegulationUnregulated
Cryptocurrencies AvailableWide range including WETH, USDT, MAV, HOLD, etc.
Trading FeesGenerally 0.04% for most pairs, 0.5% for some tokens like LONG
Payment MethodCryptocurrency only
Customer SupportOnline support via website and community channels

Overview of zkSwap

zkSwap, a decentralized exchange (DEX) based in China, launched 1-2 years ago, operates without regulatory oversight.

It offers a wide array of cryptocurrencies including WETH, USDT, MAV, and HOLD, facilitating efficient trading with minimal fees—typically 0.04% for most pairs and 0.5% for select tokens like LONG.

Advantages include high transaction throughput, real-time transactions on Layer-2, and unlimited token listings. Users benefit from a user-friendly platform and various DeFi services such as swapping and liquidity provision.

Overview of zkSwap

Pros and Cons

ProsCons
High transaction throughputUnregulated
Wide range of available cryptocurrenciesNew established platform in 1-2 years
Various services including swap, earn, pools etc.
Real-time transactions
User-friendly mobile app

Pros:

  • High transaction throughput: zkSwap supports high transaction speeds, capable of handling hundreds to potentially over 10,000 transactions per second (TPS) on Layer-2, ensuring efficient trading experiences.
  • Wide range of available cryptocurrencies: Users have access to a various selection of cryptocurrencies for trading, including established tokens and newer projects, enhancing liquidity and investment opportunities.
  • Various services including swap, earn, pools etc.: zkSwap offers various DeFi services such as swapping, liquidity pools, and yield farming, providing users with multiple ways to engage and earn rewards within the platform.
  • Real-time transactions: All transactions on zkSwap are processed in real-time on Layer-2, eliminating the need for users to wait for block confirmations, thus enabling swift and seamless transactions.
  • User-friendly mobile app: zkSwap provides a mobile-friendly interface or app, making it convenient for users to manage their crypto assets, execute trades, and access DeFi services on the go.

Cons:

  • Unregulated: As zkSwap operates without regulatory oversight, users face higher risks such as potential lack of investor protection and uncertainties in legal compliance.
  • New established platform in 1-2 years: Being a relatively new platform, zkSwap may encounter challenges related to establishing trust, building a track record, and competing with more established decentralized exchanges.

Regulatory Authority

zkSwap operates without regulatory oversight.

The lack of supervision poses potential risks such as heightened vulnerability to scams, lack of investor protection, and uncertainty in legal frameworks.

Security

zkSwap employs a robust security framework through various audit processes conducted by reputable firms. These audits include Certik, Vital Block, Cyberscope, MythX, SOLID Proof, and Bail Security.

Each audit firm specializes in different aspects of blockchain security, conducting thorough assessments to identify vulnerabilities and ensure the integrity and safety of zkSwap's smart contracts and overall platform.

Security

Cryptocurrencies Available

zkSwap features a wide array of cryptocurrencies available for trading, including well-known tokens like Wrapped Ethereum (WETH) and Tether USD (USDT), alongside emerging projects such as Maverick Protocol (MAV), Holdstation (HOLD), and Koi Finance (KOI).

This variety enables users to explore different sectors of the decentralized finance (DeFi) ecosystem, from stablecoins to niche utility tokens.

Cryptocurrencies Available

Trading Market

zkSwap offers a range of trading assets including established tokens like Wrapped Ethereum (WETH), Tether USD (USDT), and newer projects such as Maverick Protocol (MAV) and Holdstation (HOLD). This wide selection accommodates various investment strategies and provides opportunities for users to engage in decentralized finance (DeFi) activities.

RankTokenTrading PairPrice USD1h Change24h Change24h Txns24h VolumeLiquidityFully Diluted Valuation (FDV)
1zkSwap Finance (ZF)ZF/WETH¥0.13450.27%13.84%4,489¥21,184,515.86¥14,018,210.30¥82,493,369.10
2WETHWETH/USDC¥25,402.440.11%0.10%2,622¥1,563,504.33¥27,695,794.76¥326,867,061.73
3WETHWETH/ZK¥25,400.230.10%0.15%1,646¥1,913,356.52¥2,786,027.48¥326,838,674.22
4zkSwap Finance (ZF)ZF/ZK¥0.13430.42%13.73%1,304¥2,021,188.51¥4,607,373.96¥82,427,288.82
5Maverick Protocol (MAV)MAV/WETH¥2.160.48%3.13%1,168¥133,217.11¥473,289.98¥26,938,115.93
6Holdstation (HOLD)HOLD/WETH¥16.830.25%3.65%1,075¥132,993.59¥359,672.04¥110,584,088.77
7Koi Finance (KOI)KOI/WETH¥0.19270.35%0.20%1,004¥112,043.97¥466,389.27¥192,206,465.64
8eZKalibur (SWORD)SWORD/WETH¥0.51320.19%0.76%930¥60,399.58¥91,004.97¥3,461,503.42
9Tether USD (USDT)USDT/WETH¥7.270.17%0.02%538¥34,559.80¥182,180.20¥113,015,633.59
10ZKPEPE (ZKPEPE)ZKPEPE/WETH¥0.000031195.00%10.11%255¥24,034.34¥68,072.44¥3,058,703.55

Fees

zkSwap charges trading fees consisting of rewards for liquidity providers and a protocol fee.

For most pools like ETH/USDC, ZF/ETH, USDC/USDT, and WBTC/ETH, both components are set at 0.04% each.

However, pools involving LONG tokens, such as LONG/ETH and LONG/ZF, incur higher fees of 0.5% for both liquidity provider rewards and the protocol fee.

All other pools not specified maintain a standard fee structure of 0.04% for both rewards and protocol fees.

Fees

Payment Method

zkSwap, like most DEXes, doesn't accept traditional payment methods like credit cards or fiat currency (USD, EUR) due to its decentralized nature. To trade on zkSwap, you'll need to have existing cryptocurrency beforehand. Popular options include Ethereum (ETH), stablecoins like Tether (USDT), or any other tokens supported by zkSwap.

How to Buy Cryptos?

  • Acquire Existing Crypto: zkSwap, like most DEXes, doesn't directly accept fiat currency. You'll need to have some cryptocurrency already to trade. Popular options include Ethereum (ETH), stablecoins like Tether (USDT), or other tokens supported by zkSwap.
  • Choose a Wallet: zkSwap operates on the Ethereum network, so ensure your crypto wallet is compatible. Popular choices include MetaMask or a dedicated Ethereum wallet.
  • How to Buy Cryptos?
    • Transfer Crypto to your Wallet: Send your chosen crypto from your original exchange or wallet to your Ethereum-compatible wallet address. Carefully review network compatibility before initiating the transfer.
    • Connect your Wallet to zkSwap: Visit the zkSwap website and locate the “Connect Wallet” option. Follow the on-screen instructions to establish a connection between your wallet and the exchange.
    • Navigate to the Trading Interface: Once connected, zkSwap will display its trading interface. Select the crypto you want to buy and the crypto you'll use for payment (e.g., USDT to buy ZKS).
    • Initiate the Trade: Enter the amount you wish to purchase and review the trade details, including estimated gas fees (network fees on Ethereum). Confirm the transaction if everything looks accurate. The crypto you bought will be deposited into your connected wallet.
    • Services

      zkSwap offers a variety of Decentralized Exchange (DEX) services built on the Ethereum network:

      Swap: Allows users to exchange cryptocurrencies efficiently.

      Pools: Provides liquidity pools for users to deposit funds and earn rewards.

      Earn: Offers opportunities for users to earn passive income through staking and yield farming.

      Services

      SwapBoard: Facilitates community governance and decision-making processes.

      zkAggregator: Aggregates liquidity from various sources to provide users with the best trading prices.

      zkBridge: Connects zkSwap with other blockchain networks for interoperability.

      Paymaster: This feature allows users to pay for gas fees with the platform's native token, $ZF, and a multitude of other tokens, instead of ETH.

      Services

      zkSwap APP

      The zkSwap app is a decentralized exchange (DEX) operating on Layer-2, providing a secure platform for managing cryptocurrencies. Users can easily deposit, withdraw, transfer, and swap assets without incurring gas fees, thanks to ZK-Rollups technology. This Layer-2 approach ensures transactions are processed swiftly and cost-effectively, contrasting with traditional DEXs on Ethereum plagued by high gas fees and slower transaction speeds.

      The app supports high transaction throughput (TPS), offering a potentially scalable environment with real-time transaction capabilities. Users can list tokens freely and create trading pairs, enhancing liquidity and facilitating a seamless trading experience with features like zero gas fee airdrops and instant payments.

      zkSwap APP

      Is zkSwap a Good Exchange for You?

      zkSwap is the best exchange for cost-conscious Ethereum traders seeking efficiency. Its focus on liquidity pools (Swap Pools) suggests it prioritizes minimizing slippage. This can be attractive on the Ethereum network, where gas fees can be high. However, it's vital to compare fees with other DEXes before each trade.

      Here are 2-3 target groups that might find zkSwap suitable:

      • Advanced DeFi users familiar with DEX mechanics: zkSwap serves users comfortable with navigating decentralized exchanges and potentially interested in functionalities beyond just swapping tokens. Features like staking or zkSwap's zkBridge for cross-chain transfers suggest it serves to those who want to explore advanced DeFi options.
      • Cost-conscious traders seeking efficiency: While zkSwap uses the Ethereum network, known for potentially high gas fees, its focus on liquidity pools through its Swap Pools service could appeal to traders seeking efficient trade execution. Deep liquidity pools can help minimize slippage, the difference between the expected price and the actual price obtained during a trade. However, it's important to stay informed about current gas fees before trading.
      • Customer Support

        zkSwap offers customer support primarily through Twitter, Telegram, Discord, and online chat services. Users can engage with zkSwap's support team via these platforms to seek assistance, resolve queries, and stay updated on platform developments, ensuring a responsive and accessible support experience for its community.

        Customer Support

        FAQ

        How does zkSwap ensure transaction security?

        zkSwap employs multiple security audits by firms like Certik, Vital Block, and Cyberscope to identify and address vulnerabilities in its smart contracts.

        What cryptocurrencies can be traded on zkSwap?

        zkSwap supports a wide range of cryptocurrencies including WETH, USDT, MAV, HOLD, and others, providing users with extensive trading options.

        What are the trading fees on zkSwap?

        Trading fees typically range from 0.04% for most pairs to 0.5% for specific tokens like LONG, ensuring cost-effective trading for users.

        Is zkSwap regulated?

        No, zkSwap operates without regulatory oversight, allowing for flexibility in decentralized finance (DeFi) operations and innovation.

        Risk Warning

        Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.