Strategic Partnership Announcement | zkTube and Bagels Finance
We are very pleased to announce that zkTube and Bagels Finance have reached strategic cooperation. zkTube network will help the Bagels team to deploy Dokodo a smart contract on zkTube Network in the future version updates. It will allow users to participate in cross-chain liquidity mining with less gas fee and an extra layer of security. Besides, zkTube will continue to work with Bagels finance to improve the usability of the Ethereum network and provide the best yield farming strategies to all DeFi users.
As we all know, the Ethereum Layer 2 solution is a crucial component within the DeFi field. zkTube is a Layer 2 protocol that uses Zero-Knowledge proof and ZK-Rollup to realize low transaction fees and high throughput transactions on Ethereum.
About zkTube ($ZKT):
zkTube is a project built and developed on Layer 2 based on the PLONK algorithm protocol using ZK-Rollup technology. It can improve scalability by transferring batches of transactions to a single transaction. Its essence is to compress the user state on the chain and store it in a Merkle tree and transfer the user state change to the chain while ensuring the user state change process’s correctness through a Zero-Knowledge proof mechanism. The cost of directly processing user state changes on the chain is relatively high, but only using the smart contract on the chain to verify the correctness of a Zero-Knowledge proof is relatively low. In addition, the required remittance information is transmitted to the contract along with the certificate, which is convenient for users to verify accounts.
zkTube aims to become an indispensable Layer 2 environment builder and Layer 2 solution provider in Web3.0. The realization of the asset migration from Layer 1 to Layer 2 continuously iterates the technology, builds the underlying technical framework Lego for developers, and reduces development costs. Carry out the stack of technical function modules to promote the “Digital” development process.
Bagels Finance is the first cross-chain leveraged liquidity mining protocol based on Ethereum Layer2, BSC and HECO. Users can deposit ETH, WBTC, USDT, DAI, BNB, HT and other assets into smart contracts to earn high APY; Borrowers can borrow with 2–10 times leverage, thus get up to 2–10 times of the original APY and LP trading fees. It provides better liquidity for LP mining and decentralized trading in the Ethereum, BSC and HECO ecosystems.
Bagels optimizes the trading process to maximize liquidity mining positions and the APY. In addition to high interest rates, users can also earn deposit mining APY Bagels Finance, the first cross-chain leveraged liquidity mining protocol based on Ethereum Layer2, BSC and HECO.
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