Kava is scalable, interoperable and EVM compatible
Cosmos ecosystem is the best place to be and build
The fact that zkSync doesnât have its own native token raises concerns. Using ETH for financial support adds complexity and exposes us to the constant fluctuations in token prices. Kavaâs native token simplifies matters.
The proposal mentions that zkSync Era is open to providing financial support to Wagmi DAO in the form of a grant or another mutually agreed structure. However, it does not specify the amount. If the concern is about the 2M in ETH, this should be explicitly stated in the proposal.
Contrary to other platforms, launching WAGMI on Ethereum provides access to a mature and robust platform with a vast developer community and high liquidity, ensuring stability, interoperability, and immediate visibility within the broader crypto ecosystem.
Matter Labs has spent more than any other L2 on security audits, both for the protocol. zksolc and the prover.
- the low-level implementation of the zkEVM and zksolc have been audited. Here are the entities that have audited smart contracts on the network:
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OpenZeppelin Audited L1 smart contracts and L2 environment.
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Halborn: Audited ZK circuits and relevant L1 contracts.
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Code4rena public auditing contests Audited L1 smart contracts and L2 environment.
Most recently, we launched the biggest ever Code4rena contest, with over $1.1m bounties.
Lastly, in a worst case scenario, if things were ever to go awry and Matter Labs became a bad actor, users can always reconstruct the state on L1 and force withdraw their funds there.
With this in mind, it is also important to note that zkSync plans to decentralise soon.
The below chart, comparing the price action of ETH versus KAVA since KAVA inception (July 2019) clearly shows ETH is a less volatile asset.
Furthermore, it also demonstrates that the market believes that ETH is a more desirable asset than KAVA, as is readily observable from its poor performance relative to ETH in 2023.
It is our understanding that the community would much prefer an ETH grant & WAGMI pair rather than KAVA.
I vote yes to zksync over kava. But would be nice to launch on ETH though
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I like the proposal. Good tech, hyped L2, maybe a future airdrop season.
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ZKsync has demonstrated significant pump in terms of TVL and Volumes and continuities decline after. In the past 2 month 25-30% decrease in TVL and Volumes.
Being fair and straight forward, majority of the usage now are airdrop farmers. Around 70-80% are bots.
Therefore, we might see a serious drop once airdrops are paid out, or announced that there wonât be any. Both scenarios, will result in outflow of usage, tvl and volumes.
ZK hence, is interested in capturing a great tech protocols and their communities, to kind of guarantee sustainability in the long run.
For WAGMI, I honestly believe it does not really matter where to launch, there will be traction anyways, sooner or later, due to innovative tech Dani does.
I therefore like KAVA deal more now, because they lock liquidity and there are clear conditions of the deal. âWAGMI brings new tech and users to the networkâ KAVA provides liquidity to be locked at protocol level.
ZK proposal does not have this conditions clear. If ZK can match or outbid the offer, makes sense to consider and review again. But for now, ZK and KAVA needs WAGMI not other way, so would simply go with best value offer.
I have seen Sebastianâs messages in chat regarding possible 2m ETH liquidity offer from ZK, but I believe that should be official proposal, rather than chatting in telegram group.
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I agree vehemently with the first part of your post, but disagree with deploying first on KAVA. In my honest opinion, the WAGMI doesnât need any grants or help in order to be sucessful and should launch on ETH first, and then possibly discuss other proposals.
Well i guess this is a good lesson to include some specifics next time. I think Kava would have won anyways though