SyncSwap

Market Making

SyncSwap is a decentralized exchange built on zkSync Era.

Risk Rating
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
SyncSwap is the main liquidity hub on zksync Era with its decentralized exchange (DEX) that is user-friendly and cost-effective.
What we like less
SyncSwap governance is planned but not yet implemented as the team has significant control of core contracts.
What it means for you
SyncSwap aims to democratize access to DeFi by providing an intuitive platform that simplifies trading across various asset classes.

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Information
Exploit/Hacks
None
Info
Key Metrics
  • TVL: $83.4M (Rank #79)
  • TVL Ranking by Market Making: #0
  • Blockchain: zkSync Era, Linea, Scroll
  • Chain TVL
    • zkSync Era: $35.06M
    • Linea: $29.67M
    • Scroll: $18.72M
Risk Assessment
Watch Out
Protocol Code Quality
  • Code reviewed by at least one experienced auditor; Zellic audited in May 2023
  • Anonymous team reduces transparency
  • No documented protocol hacks since launch
Protocol Maturity
  • Latest protocol version launched in 2023; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 5% by total value locked reduces risk
  • Core contracts can be upgraded with just an EOA wallet
  • No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
  • No governance token and/or contracts are fully immutable
Protocol Design
  • No death spiral concerns
  • This protocol is susceptible to risks related to decentralized exchanges (DEXs), such as impermanent loss
Things to know about SyncSwap

What is SyncSwap

SyncSwap is positioned as the primary DEX on the zkSync Era, offering a future-proof design that is highly customizable and ready to evolve over time. The protocol's Multi-Pool Design allows it to integrate a variety of pool models, each optimized for specific trading strategies, enhancing capital efficiency and providing liquidity providers with greater flexibility. SyncSwap is an automated market maker (AMM). which relies on liquidity pools rather than traditional order books to execute decentralized trades. The liquidity pools are funded by users who deposit two tokens in equal proportion in exchange for a liquidity provider (LP) token that represents their claims to their share of the total pool, plus a portion of trading fees.

How SyncSwap makes money

SyncSwap may generate revenue through trading fees collected across its platform. The dynamic fee structure enables SyncSwap to optimize its revenue by adapting fees according to trading volume, market conditions, or specific community governance decisions.

How you make money on SyncSwap

As a participant in SyncSwap, you can earn by providing liquidity. Liquidity providers benefit from the platform's efficient multi-pool technology and can earn trading fees from the pools they contribute

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