ZkSync: A Guide To Retroactive Hunting Opportunities That Shouldn’t Be Missed
What is zkSync?
ZkSync is a scalable low-cost, trustless protocol for payments on Ethereum, powered by zkRollup technology. It uses zero-knowledge proof and on-chain data availability to keep users’ funds safe as if they had never left the mainnet.
The problems ZkSync sets out to solve:
ZkSync uses the Zk Rollup solution. On the other hand, the projects developed from scratch on ZkSync are all very successful because they provide an extremely good user experience from transaction speed, asset withdrawal to almost zero costs, etc. Typical names can be mentioned as dYdX, ImmutableX, DeversiFi.
In general, the ecosystem of zkSync is relatively young, just incubated, but the overview of the arrays has been formed quite fully and the potential for great growth in the future. It is currently working with many Ethereum DApps and infrastructure projects, including 1inch, Graph, Yearn Finance and many other potential projects.
Besides, the project is trusted and supported by many large investment funds when it has gone through 2 capital calls with a total amount of up to 150 million USD (with the participation of a16Z, OKEx, Crypto.com, Bybit, etc.)
Token zkSync and Retroactive Potential
zkSync has not issued tokens yet. However, the company explicitly states on its tokenomics page that its token will be deployed in the future in order to stake and become a validator in the zkSync network. Users of this network can be rewarded with an airdrop, similar to the Optimism airdrop. Some projects are in the testnet stage, so this is the time when everyone should seize the opportunity to have the opportunity to create more income.
Along with that the current competition is very fierce between different L2s, launching a retroactive phase will attract a lot of users from the entire Ethereum ecosystem like Optimism has done.
A few notes when participating in Retroactive hunting
- Only do it on PC/Laptop for the most convenience
- Always read each step carefully – Avoid errors
- Execution frequency: Several orders/week (It is recommended to space each order at least 10 minutes to 3 hours)
- For Retroactive / Airdrop bets, it is recommended to do it on a secondary wallet (Wallet with few assets) to prevent all risks.
- The bet costs a little to participate, so players can consider it themselves before starting to hunt Retroactive (For me, it is considered as an opportunity cost)
How to Join Retroactive of the zkSync Project
Transfer assets and activate zkSync Mainnet wallet
Step 1: Visit the page: https://wallet.zksync.io
Step 2: Select to Ethereum Wallet
Step 3: Select Metamask
Step 4: Select + Top Up
Then a property transfer method interface will appear.
There are many ways to move assets on Layer from decentralized to centralized exchange. There are ways such as: Buy through credit cards such as Ramp, MoonPay, Utorg, etc. 3% – 5%. Or through Bybit exchange, the fee is about 0.5%. Finally, use bridges such as Layerswap, zkSync, Orbiter and Zigzag, personally I will use bridges to transfer because I will charge per transfer.
Step 5: After selecting Bridge as the money transfer method, you continue to choose the token you want to send and the amount to send to Layer 2, then select Top up.
Note: You must have assets on the Ethereum Mainnet wallet to transfer money to zkSync to activate the Layer 2 wallet.
Step 6: Confirm the transaction on the Metamask wallet and the assets are transferred to the Layer 2 zkSync wallet
Step 7: Activate zkSync wallet
When you make your first execution transaction on a project protocol on the zkSync platform or simply send and receive funds into your account, you will receive an account activation notification.
Skin in the game on zkSync
Why should Skin in the game
Confirmed project information will have tokens, so there is a high chance that there will be airdrops for users on the zkSync platform as well as dApps on the platform. Optimism used to allocate project tokens by airdrop/retroactive to real users. If you have ignored Optimism, then zkSync is the next “train”.
If you receive an Airdrop, the reward on zkSync will be more valuable than on Arbitrum because currently, the number of users on Arbitrum is quite large, so the reward is distributed less than on the zkSync platform.
Accompanying that are the projects on Layer 2 of zkSync because these projects have generated revenue from users using to experience the zkSync network, thereby showing a very high possibility of Airdropping in the future. users used the project
There are many areas in the ecosystem to skin in the game, but the most popular and easiest way to do it is to experience projects made on decentralized exchanges.
For decentralized exchanges, you should swap between assets many times to be confirmed by the project to become a real user, so that you can receive Retroactives from the project.
Steps to take
Project website: https://cryptoswap.org/
Step 1: Connect to a wallet to be able to connect to the Metamask wallet and use the feature.
Step 2: Select swap, then select the asset you want to convert. The example on the photo is that I convert from ETH to USDC.
Step 3: Select Pool to be able to provide liquidity, then select Create a Pool.
Step 4: Select the asset pair that you want to provide liquidity, on the picture I provide ETH-BAT pair.
Then enter the amount you want to provide and select “To Be Finished…” To be able to complete the liquidity provision.
Interacting with Dapps
Currently, there are relatively few Dapps on zkSync, but there are some outstanding projects that you can participate in such as: ZigZag Exchange.
Note: To increase the chance of airdrop, you can trade with a volume of about $100/order and around 10 orders is fine.
Similarly, you can use DeFi products on zkSync’s ecosystem such as: Mute, Rubicon, MesProtocol, ZKEX, etc.
Mint, trading and storing NFT
Step 1: Go to https://nft.storage/files/, then log in with GitHub or create an account with email.
Step 2: Select Upload, then select any photo in your device that you choose as NFT and then Select Upload.
Step 3: Copy the CID in column 2.
Step 4: Login this link to https://wallet.zksync.io/account/nft to mint NFT.
Paste the CID in the Address location and select mint and confirm.
The result after mint will be as shown below.
Donate on Gitcoin using the zkSync network
Step 1: Create a Gitcoin account by going to the Gitcoin link and linking it to a Github account (you can use Gmail to create a Github account).
Step 2: Go to SEE GITCOIN GRANTS Select View All Grants, then select the project you want to Donate.
Then you go to the shopping cart and choose the form of donation using zkSync.
Step 3: Select Ethereum and link to MetaMask wallet.
Step 4: Wait for the completion and confirmation from the platform.
Conclusion
After Optimism launches the token, it is likely that other layer 2 solutions like Starnet, Arbitrum or zkSync will launch tokens soon to increase network security and attract users and developers more easily. Therefore, this may be an opportunity for you to receive rewards in the future. Good luck.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
