What is ZigZag Exchange?

ZigZag Trading Layer 1 and Layer 2

What is ZigZag?

ZigZag is a Decentralized Exchange (DEX) with an orderbook. ZigZag is built on the zkSync Network – a zkRollup Ethereum scaling solution developed by Matter Labs.

A StarkNet version of the exchange is also in development.

What is zkSync?

zkSync is a Layer 2 (zkRollups) scaling solution for Ethereum based on zkSNARKs. The network allows instant, low gas cost transfers for ETH and ERC-20 tokens. If you want to learn more about zkSync, you can read about it here.

What is Layer 2?

Layer 2 is an overarching term for a number of Ethereum scaling solutions that process transactions and associated data away from the Ethereum network (Layer 1). These Layer 2 solutions are designed to make using the Ethereum network faster and cheaper for the end user, while retaining the security and decentralization of the Ethereum network. This is a short overview of the various Layer 2 solutions being developed, some of which ZigZag already utilizes.

Difference in trading on L2 vs. L1

Trading on a Layer 2 DEX is exactly the same as trading on a Layer 1 DEX except it’s cheaper and it’s faster.

Trading on ZigZag costs less than $1 a trade, compared to a Layer 1 DEX like Uniswap v2 where you might be paying $100’s in fees. Users trading on ZigZag through Numio have recently seen trading fees go as low as $0.05!

Why are transactions on ZigZag gasless (no need for ETH)?

One of the fantastic abilities of zkRollups is to make gasless transactions possible. This doesn’t mean that you don’t pay any fees – you do, they are just significantly lower.

Gasless transactions mean that you don’t have to pay a transaction fee in ETH. Instead the fee is paid using the token you are sending, whether that be USDC, USDT, wBTC, or any other token you may be transacting with.

Gas cost difference

image image

As you can see in the above screenshots, gas fees are significantly lower when trading on zkSync with ZigZag vs trading on the Ethereum mainnet.

Including the approval fee (required for any ERC20 token), the above real world example shows a 140x savings on network fees.

How to make these trades on Numio?

Trading on Numio is simple. Just download the app (Android or iOS), create an account, and add some funds.

From there it’s a matter of hitting that trade button.

If this is your first time using a noncustodial mobile wallet, or cryptocurrency wallet in general, we have some awesome tutorials which showcase how you can use the app.

I have a token I want to trade on Numio and ZigZag, how do I get it added for trading?

The fantastic thing about both zkSync and ZigZag is they enable permissionless listings, i.e. there is no centralized listing process.

If your favorite token is not yet listed on zkSync it’s just a matter of following these directions to add it yourself. Once the token is live on zkSync you can add tokens onto ZigZag for trading by following these steps.

About Numio

Buy, sell, trade, earn crypto with DeFi, collect NFTs, and more, while saving you up to 100x on Ethereum fees. Numio gives you more control over your digital assets in one convenient app. Numio can be used pseudonymously, or with an optional zkProof powered identity verification system. All Numio products are non-custodial.

Available on Android and iOS, Numio was the first zkRollup powered mobile payments app to be released on Google Play.

Share on Facebook
Share on Twitter
Share on LinkedIn

Categories

Categories

Signup to our Newsletter

Signup and stay up to date with our products and upcoming releases.

Download Numio

Numio is fast, cheap, and secure. Download for free and start saving money today.

Ethereum wallet NFTs and more

Get the Latest News

Sign up to our newsletter and stay up to date with our products and upcoming promotions.

Backed By

Copyright © 2022 Numio. All Rights Reserved.

Stay Updated

Subscribe and stay up to date with our latest products and upcoming promotions.