On November 5th, Guo Tao, head of Zenlink China, shared the latest progress of the project with the community around the theme of "Zenlink developing new nodes", mainly by "What is Zenlink? What are the features of Zenlink v_0.1 version? Zenlink is preparing for the next version What to do?" The three-part sharing started.
secondary title
What is Zenlink
Zenlink is a Polkadot-based cross-chain DEX protocol that allows users to securely exchange any asset between different parallel chains.
This DEX has two core functions: The first is the Zenlink DEX Module (module). After deploying this Module on the parachain in a plug-and-play manner, the parachain will have some basic DEX functions, such as Do liquidity, do Swap, etc. The second is the cross-chain DEX protocol based on XCMP, which connects all liquidity, so that the cross-chain transaction function can be realized.
secondary title
Zenlink latest development
In this version, we mainly did two things:
1. Build a local Substrate test chain with smart contract function from 0 to 1
2. Complete the development of the core functions of DEX Module, and at the same time realize the development of ink! contract mode and Module
Note: ink! contract mode is the WASM contract mode officially promoted by Parity
What version 0.1 users can do:
Users can interact with smart contracts on this version. It can currently be done on Zenlink:
1. Create a trading account
2. Create a liquidity pool
3. Provide a liquidity pool for trading pairs
4、Token Swap
5. Liquidity withdrawal
The development of the front-end interface is expected to be completed this week, and it will be tested by the community in the near future. That is to say, everyone will soon be able to experience Polkadot's native DEX on Zenlink.
What is the next version of Zenlink going to do?
Next, we will focus on three things:
1、Zenlink DEX DApp
2. Zenlink economic model design
3. DEX Module pluggable design
DEX DApp will focus on wallets (accounts) and transactions (high-quality assets, interactions, prices). The Polkadot-based heterogeneous chain wallet account model has completed product design and will soon enter the development stage.
For high-quality assets, we will cooperate with mature solutions in the community, such as Acala’s stable currency aUSD, ChainX’s cross-chain BTC, Bifrost/Stafi’s Staking derivatives (vDOT), etc., and give priority to supporting these assets as trading pairs on the Zenlink network .
In fact, we have been thinking about the design of the economic model for a long time, but it has not really been implemented, and it is still in the conceptual stage.
The economic model should help the value capture of the Zenlink network, so our economic model will focus on users, each parachain, holders, and developers.
Users participating in network construction, whether they are liquidity providers or traders, should enjoy the benefits brought by the economic model, and all parachains (or other public chains that will be bridged in the future) that cooperate with Zenlink DEX Module should also interact with Zenlink to generate value .
Holders should not only participate in governance, but also be radiated by network value.
Developers are also a very important part of the network. In the future, we also hope that Zenlink can be highly modularized and abstracted, and community developers can also participate in the development of Zenlink and build an ecosystem together.
secondary title
Wonderful question and answer
1. What is the total amount of ZLK tokens? How to get?
Guo Tao: The tentative total is 100 million. There is no official sale or listing plan yet. Please pay attention to official news and don’t be fooled.
2. Is there impermanence loss?
Guo Tao: Currently based on the AMM model, the impermanent loss community does not have a good solution. We've also been thinking about AMMs and order book models.
3. Can you consider using plsam as the extension layer?
Guo Tao: As long as there are technical solutions that are conducive to network development, we are open-minded. This is why we named it Zenlink, we hope to be simple, extreme, open, interconnected and all good ecological cooperation.
Professional things are entrusted to a professional team. For example, for the staking derivatives transaction we plan to support, we will not do the synthesis, clearing and settlement of derivatives, we only focus on the cross-chain DEX transaction itself.
4. When will the economic model be completed?
Guo Tao: According to the roadmap in our white paper, it is expected to be around January next year.
5. Are you shooting a parachain?
Guo Tao: We do not shoot parachains. Zenlink is the application protocol layer for cross-chain DEX. Our positioning is not a specific parachain. We are opening up the liquidity of different parachains, allowing users to safely exchange any assets between parachains.
But we will participate in parachain slot auctions in other ways.
6. Is it a synchronous replication deployment on the Kusama mainnet or a Zenlink network cross-chain deployment?
Guo Tao: At present, the Module is generalized and modularized, and an interface is provided for parallel links to enter.
