Immutable’s zkEVM Marches Towards Mainnet with a Series of Milestones

According to official Twitter account, Immutable has set the stage for gaming on the Ethereum blockchain with its recently launched zkEVM Testnet, accentuated by the involvement of @0xPolygonLabs. The progress is underscored by over 50 games that have earmarked their development on the Immutable zkEVM platform, showcasing a growing ecosystem even before its Mainnet launch.

The journey towards a fully functional Mainnet is highlighted by a series of methodical steps:

1. Testnet Launch (August): The initial phase saw the launch of the Immutable zkEVM Testnet which witnessed over 20,000 active addresses engaging in more than 100,000 transactions as developers started the groundwork for their gaming projects.

2. Testnet Re-Genesis (November): A significant transition was the re-genesis of the Testnet, upgrading the chain’s inaugural EVM client from Polygon Edge to Geth. This strategic move is aimed at aligning Immutable zkEVM closely with Ethereum, ensuring full compatibility with Ethereum’s extensive tooling ecosystem.

3. Mainnet Launch (December – January): The subsequent phase will unveil the Immutable zkEVM Mainnet, with an initial invitation to developers to explore the new chain in groups, prior to a public launch.

4. Dedicated App Chains (2024): Looking ahead, 2024 will see the introduction of dedicated app chains, offering a similar tech stack and capabilities as Immutable zkEVM but with distinct customization options. The transition to Geth is highlighted as a pivotal step towards ensuring optimal liquidity, accessibility, and security for each app chain.

5. Prover Integration (2024): A crucial milestone will be the incorporation of the zk-prover, embodying the essence of “zk” in zkEVM, and facilitating a trustless bridge between Ethereum and Immutable zkEVM.

Immutable’s vision is not just about creating a new blockchain but fostering a burgeoning ecosystem. The over 50 games committing to build on Immutable zkEVM is a testament to the platform’s potential to be the nexus of blockchain gaming on Ethereum.

Developers are urged to commence building on the live zkEVM Testnet to gear up for the upcoming Mainnet launch, as indicated on Immutable’s official developer portal.

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API3 Unveils Enhanced Data Feed Service to Bolster TVL on Polygon zkEVM

API3, a pioneering blockchain oracle provider championing the shift from conventional third-party oracle networks to first-party oracle solutions, has rolled out its managed data feed service. This service is designed to support the growth of Total Value Locked (TVL) on Polygon zkEVM, an initiative by Polygon Labs, a leader in developing Ethereum scaling solutions for Polygon protocols.

This development comes in the wake of Polygon zkEVM’s launch earlier this year, which aimed to harness the capabilities of zero-knowledge proofs while ensuring EVM equivalence. Since April 2023, API3 has been at the forefront, offering first-party oracle services to Polygon zkEVM. The recent unveiling of managed dAPIs on the API3 Market now empowers builders with access to multi-source, decentralized data feeds (dAPIs) delivered by first-party oracle nodes, complete with native-chain aggregation.

The DeFi landscape, with lending protocols and perpetual DEXs at its core, hinges on real-time market data. This data necessitates on-chain integration via an oracle. A significant portion of DeFi applications, representing tens of billions in TVL, predominantly rely on push-type oracles. However, existing blockchain oracles often come with high fees and limited source transparency, sometimes introducing vulnerabilities.

Addressing these challenges, API3 has crafted a novel push oracle solution centered around first-party architecture. This innovation facilitates DeFi protocols, currently using push oracles on other EVM chains, to seamlessly transition to Polygon zkEVM. The move is poised to accelerate the adoption and scaling of DeFi, potentially reaching the next billion users.

API3’s groundbreaking push oracle is constructed around the Airnode first-party oracle node. This design eliminates the need for intermediaries, paving the way for a safer and more efficient method to bring real-time market data on-chain. With features like native-chain aggregation and multi-source data feeds, developers can tap into more dependable data, minimizing downtime and enhancing data accuracy.

In a departure from traditional oracle designs that involve third-party node operators, API3’s first-party push oracle sources data directly from the origin. These oracle nodes, managed by the data providers themselves, ensure that cryptographically signed data is integrated onto the blockchain. This approach offers unparalleled data source transparency, setting a new industry benchmark.

Prominent DeFi platforms like Aave, Compound, and various DEXs have historically depended on push oracles. But API3’s innovative push oracle is set to redefine the playing field. This model harmonizes the interests of data providers, networks, and dApps. The introduction of API3’s managed dAPIs heralds a new industry standard, granting direct access to a diverse range of real-world data, encompassing crypto, forex, equities, and commodities.

The DeFi ecosystem is already benefiting from the DAO-managed oracle service of API3. Platforms like QuickSwap Perps and Dovish, a perpetual swap protocol, are leveraging dAPIs for precise pricing. MantisSwap, a DEX focusing on stable assets trading, employs dAPIs to bolster their protection mechanism against stablecoin depegging, highlighting the enhanced security features of dAPIs for DeFi applications.

Tropykus, a lending and borrowing dApp that branched out from AAVE V2, utilized self-funded dAPIs for a swift launch on Polygon zkEVM. With dAPIs requiring minimal alterations to tried-and-tested code, developers gain a competitive edge, potentially enabling rapid deployment on emerging networks.

API3’s collaboration with Polygon zkEVM underscores the pivotal role oracles play in scaling Ethereum. The upcoming generation of blockchain oracles promises heightened security and transparency through first-party oracle solutions. API3 DAO remains enthusiastic about exploring the vast potential of decentralized finance as the capabilities of smart contracts come to fruition.

Jack Melnick, Head of DeFi BD at Polygon Labs, remarked, “It’s very exciting to see API3 deploying on Polygon zkEVM, enhancing the DeFi ecosystem with an innovative push oracle solution. The integration of managed dAPIs with Polygon’s scalable infrastructure marks a significant step towards a more transparent and secure future for decentralized finance.”

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Klaytn Foundation and Matter Labs Collaborate to Advance Layer 2 Technology Integration

Klaytn Foundation, the organization behind South Korea’s prominent Layer 1 blockchain Klaytn (symbol: KLAY), has entered into a memorandum of understanding (MOU) with Matter Labs, the team responsible for developing Ethereum Layer 2 scaling solution zkSync Era. This collaboration aims to advance the integration of zkSync Era’s Hyperchain implementations on Klaytn, marking a significant technological endeavor to incorporate a Hyperchain Layer powered by ZK-Rollups on a blockchain outside of Ethereum. The partnership will focus on the following areas of exploration:

  • Research and development efforts to enhance the connectivity between the Klaytn mainnet and Matter Labs’ zkSync Era Layer 2 blockchain, which leverages Zero-Knowledge Proof technology.
  • Development of new Layer 2 blockchain technology for Klaytn based on zkSync Era.
  • Establishing Klaytn as a Hyperchain infrastructure through the implementation of Matter Labs’ ZK Stack.

By establishing this partnership, Klaytn Foundation and Matter Labs are paving the way for technical cooperation. The collaboration is poised to accelerate the growth of the Klaytn ecosystem infrastructure, as both entities work together to develop Layer 2 and Layer 3 implementations.

Matter Labs has been at the forefront of Zero-Knowledge Proof rollup technology, having deployed zkSync version 1 in 2021. Recently, the company introduced zkSync Era, the second version of their platform that supports EVM compatibility. It is noteworthy as the first zkEVM to launch on the mainnet and is accessible to the public. On June 26th, Matter Labs announced the release of the ZK Stack, a modular and open-source framework enabling the construction of custom ZK-powered L2s and L3s, also known as Hyperchains. These advancements contribute to the scalable throughput, trustless security, and resilience offered by zkSync Era, characteristics that both Klaytn Foundation and Matter Labs deem essential for Layer 2 and 3 protocols.

Dr. Sam Seo, the Representative Director of Klaytn Foundation, acknowledged the scalability challenges that lie ahead with the mass adoption of Klaytn. He expressed optimism about the partnership with Matter Labs, stating that it will expedite the development of Zero-Knowledge Layer 2 technology for the Klaytn mainnet. Dr. Seo emphasized the importance of maximizing scalability on Klaytn, a blockchain already known for its fast transaction processing time and low gas fees.

Marco Cora, the senior vice president of business and ecosystem at Matter Labs, highlighted the significance of working with Klaytn Foundation to explore Hyperchain use cases. He described ZK rollups as the future of Ethereum scaling and emphasized the need to establish the right architectural foundations from the outset. Cora stated that building on the ZK Stack will grant established Layer 1 blockchains like Klaytn two crucial features: sovereignty and seamless connectivity to the Ethereum ecosystem. This connectivity will be achieved in a trustless, fast, cost-effective, and secure manner, opening up new opportunities for builders and users.

The deployment of Layer 2 and Layer 3 hyperchains based on zkSync Era’s ZK Stack will enable Klaytn builders and ecosystem participants to enjoy lower fees and higher throughput. They can process transactions on these layers while benefiting from the full security provided by Klaytn through the submission of zero-knowledge proofs to the mainnet.

As the partnership progresses, Klaytn Foundation and Matter Labs will share their joint project plans and research and development achievements through their respective social channels and communities.


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Polygon(Matic) to Slash zkEVM Transaction Fees by 20%

Polygon, the scalable Ethereum layer-2 solution, has announced its intent to optimize its zkEVM (Zero-Knowledge Ethereum Virtual Machine) in the coming weeks. These enhancements are predicted to decrease transaction fees by around 20%, according to the company’s official Twitter account. Interestingly, these improvements will be achieved without the need for any data compression techniques.

Transaction fees within the Polygon zkEVM serve to cover the costs associated with data availability and posting proof to the Ethereum network. Each transaction that gets processed requires the publication of state data. Additionally, fees cover the operational costs of running the servers that generate the proofs. Currently, around 80% of a transaction fee is dedicated to data availability, a resource that is not currently being compressed.

In a roadmap soon to be released, Polygon will detail upcoming upgrades on data compression, as well as the Ethereum Improvement Proposal (EIP) 4844. These developments are expected to improve the efficiency and cost-effectiveness of transactions on the platform.

The company also shared advice on how users can optimize fees in the current ecosystem. One major suggestion is to time on-network transactions to periods when Ethereum is the cheapest, thus minimizing the L1 interaction cost. 

Interestingly, Polygon advises users to conduct transactions when network activity on zkEVM is high. This approach may seem counterintuitive, but due to the cost of proof generation being distributed across all transactions, fees on a rollup decrease as activity increases.

For users wishing to bridge assets from Ethereum, the fees can be notably high. However, alternatives do exist. Transak, for example, can transfer tokens directly to the layer-2 solution, bypassing Mainnet fees completely.

Moreover, users with assets on a different blockchain can utilize a third-party bridge instead of first bridging to the Mainnet. For PoS (Proof of Stake) to Polygon zkEVM, LayerSwap offers a solution. For other layer-2 solutions to Polygon zkEVM, users can consider options like Orbiter Finance and Multichain.

The forthcoming updates, along with the existing strategies for optimizing transaction fees, point towards Polygon’s ongoing commitment to enhancing user experience and making blockchain technology more accessible and cost-effective.


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Uniswap to Launch on Polygon’s zkEVM

Polygon’s zero-knowledge Ethereum Virtual Machine (zkEVM) roll-up solution is going to be used for the launch of Uniswap, which is one of the most well-known decentralized exchanges (DEX) built on the Ethereum blockchain. All 191 Ethereum addresses cast their ballots in support of the integration, which means that the proposal has already surpassed the barrier of 40 million votes that was needed for acceptance.

Polygon is a scaling solution provider that was originally known as Matic Network. Their mission is to make it simpler for developers to construct decentralized apps (dApps) on the Ethereum network using their technology. Its zkEVM roll-up approach aims to increase Ethereum’s scalability, security, and usability, while also lowering the prices of transactions.

It is anticipated that the incorporation of Uniswap onto Polygon’s zkEVM will confer major advantages onto both of those platforms. Uniswap, which has been experiencing difficulties on the Ethereum mainnet due to high gas prices and poor transaction times, will be able to use Polygon’s scaling solution in order to provide its customers with transactions that are both quicker and less expensive. In the meanwhile, Polygon will profit from the increased adoption and liquidity that Uniswap delivers to its network thanks to the addition of Uniswap.

The Uniswap proposal to launch on Polygon’s zkEVM was first presented in March 2021, and tokenholders were given until April 14 at 9:05 pm UTC to vote on the proposal. Uniswap is a decentralized exchange (DEX) that allows users to buy and sell digital assets. However, the need for approval, which was 40 million votes, was already met long before the deadline, and over 42.4 million votes were registered in support of the merger.

According to Tally, a voting dashboard for decentralized finance projects, the Ethereum infrastructure provider ConsenSys and the financial modeling platform Gauntlet were among the top donors to the vote, both with over 7 million votes.

It is anticipated that the successful integration of Uniswap on Polygon’s zkEVM would further accelerate the expansion of decentralized finance (DeFi) on both platforms, in addition to the expansion of the Ethereum ecosystem as a whole. Ethereum is positioned to emerge as a more feasible and appealing platform for the development of decentralized apps in the years to come as a result of the proliferation of blockchain scaling solutions such as Polygon.


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