{"id":54848,"date":"2023-07-20T10:06:15","date_gmt":"2023-07-20T14:06:15","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=54848"},"modified":"2023-07-20T10:06:18","modified_gmt":"2023-07-20T14:06:18","slug":"defi-liquidity-protocol-symbiosis-adds-support-for-zkevm-rollup-linea","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/defi-liquidity-protocol-symbiosis-adds-support-for-zkevm-rollup-linea\/","title":{"rendered":"DeFi Liquidity Protocol Symbiosis adds Support for zkEVM rollup Linea"},"content":{"rendered":"\n

Decentralized finance liquidity protocol<\/a> has added support for Linea, a Consensys-developed zkEVM-based scalable solution for cross-chain swaps.<\/p>\n\n\n\n

\"DeFi
DeFi Liquidity Protocol Symbiosis adds Support for zkEVM rollup Linea<\/figcaption><\/figure>\n\n\n\n

Linea is a developer-ready zkEVM roll-up type, according to a statement from Symbiosis. This means it is Ethereum-compatible and allows developers to reuse a significant amount of existing infrastructure when constructing multi-asset-based solutions.<\/p>\n\n\n\n

Linea includes over 100 protocols, developer tools, and decentralized applications (Dapps), making it a practical, scalable tool for Ethereum ecosystem developers.<\/p>\n\n\n\n

In March 2022, Symbiosis Finance's stablecoin liquidity solution was introduced into the mainstream. Since then, the cross-chain liquidity provider has implemented several additional scalable layer-2 solutions<\/a>.<\/p>\n\n\n\n

The protocol integrated zkSync, another zk rollup developed by Matter Labs, in early April. The integration enabled the protocol to offer one-click exchanges between Ethereum, Polygon, Avalanche, BNB Chain, Telos, and other blockchains and zkSync.<\/p>\n\n\n\n

In addition to zkSync, the cross\u2013chain liquidity protocol added prominent L2 solutions in April, including Polygon's zkEVM, Optimism, and Arbitrum.<\/p>\n\n\n\n

Nick Avramov, co-founder of Symbiosis, was asked why they chose Linea and how the solution compares to other L2s. Linea precisely aligns with the protocol's strategy to support the most popular L2s, according to Avramov, and the decision to integrate it was based on community feedback and requests from Symbiosis SDK\/API-using partners such as OpenOcean, OKX DEX, and others.<\/p>\n\n\n\n

Avramov commented on the emergence of ZK rollups as a prominent L2 force:<\/p>\n\n\n\n

\n

\u201czk roll-ups have better user onboarding capabilities as they are targeting new domains like Gamefi, Social etc. to engage more people without security sacrifice as most of these new domains rely on Ethereum + cost less.”<\/em><\/p>\n<\/blockquote>\n\n\n\n

Zk solutions are the natural progression of rollups, he stated, adding, “I believe Optimistic rollups will cease to exist at some point.”<\/p>\n\n\n\n

Avramov remarked that zk rollups are the true L2 solutions and have the potential to address the cross-chain\/multi-chain dilemma, which Ethereum co-founder Vitalik Buterin\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> raised in January 2022.<\/p>\n\n\n\n

According to Symbiosis, the integration of zk rollups has already helped it scale and increase its transaction throughput by 300% month over month, with cross-chain trading volume exceeding $500 million.<\/p>\n\n\n\n

The liquidity provider believes that with the integration of Linea, the volume of cross-chain swaps will surpass $1 billion in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"

Decentralized finance liquidity protocol has added support for Linea, a Consensys-developed zkEVM-based scalable solution for cross-chain swaps. Linea is a developer-ready zkEVM roll-up type, according to a statement from Symbiosis. This means it is Ethereum-compatible and allows developers to reuse a significant amount of existing infrastructure when constructing multi-asset-based solutions. Linea includes over 100 protocols, […]<\/p>\n","protected":false},"author":12,"featured_media":54861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[73],"tags":[7904,15358,15359,13377],"class_list":["post-54848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi-news","tag-decentralized-finance-2","tag-linea","tag-symbiosis","tag-zkevm"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/07\/image-31.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/54848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=54848"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/54848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/54861"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=54848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=54848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=54848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}