In a press release published on 16 August, ZKSwap announced that it has launched its Layer-2 protocol to the Binance Smart Chain (BSC) testnet.
The team behind ZKSwap said the growing demand for BSC block space and increased congestion of the network have pushed daily transactions to an all-time high of 13.17 million. This has led to a significant increase in transaction costs, with Layer-1 protocols on BSC suggesting users increased their gas submissions to above 5 gwei.
“The deployment of the Layer-2 protocol of ZKSwap on the BSC testnet can be a very direct solution to many of the problems that users encounter in their usage scenarios,” the company said in the press release. “For example—guaranteeing the stability of the single token prices and trading due to low liquidity and high transaction slippage.”
ZKSwap’s deployment on Binance Smart Chain aims to solve these congestion issues. The protocol offers zero-fee transactions and trading and can enable Binance Smart Chain users to swap any BSC-based token. Users encounter transaction fees only when withdrawing their assets to a Layer-1 network.