7 Exploding zkSync Projects in 2024

zksynk projects

Among the latest innovations to enter the blockchain world, many people are starting to get to know zkSync. This is a Layer 2 solution on Ethereum to achieve higher scalability for its decentralized apps (dApps).

Over 100 dApps are already running on zkSync, with over 2 million active wallets. These numbers tell us that zkSync’s popularity is growing rapidly in the Web3 economy.

In this trends article, we’ll look at seven exploding zkSync projects belonging to multiple crypto sectors.


Search growth status guide:

  • Moon – strong and consistent upward trend in search growth
  • When Moon? – relatively flat or sideways trend 
  • Rekt – declining search volume after a significant peak

1. Maverick

maverick

5-year growth: +489.28%

Search growth status: Moon

Year founded: 2021

Valuation: $576 million (Source: CoinMarketCap)

Funding: $18 million (Seed) (Source: Crunchbase)

What they do: The Maverick protocol is a DeFi project aiming to provide services related to liquidity and DAO treasuries. Its Maverick AMM solution promises better trading prices for crypto investors by mitigating gas fees. The project’s single-direction asset following lets liquid providers earn from the speculation on a token price trajectory. The general vision of the team behind Maverick is that liquidity providers should have more capital control than mainstream AMM can guarantee.

2. Mute

mute

5-year growth: +68.36%

Search growth status: When Moon?

Year founded: 2018

Valuation: $14 million (Source: CoinMarketCap)

Funding: Unknown (Private) (Source: Pitchbook)

What they do: Mute is a DeFi project that leverages zkSync to build a digital hub for crypto liquidity. The team’s main goal is to propose an AMM decentralized exchange (DEX) that’s both easy and cheap to use for the crypto community. Mute grants a maximum transaction time of 1-3 seconds, with no minting fees and gas fees that grant a 95% saving compared to Ethereum. With bond offerings and a yield generation platform, the project targets everyone wishing to enjoy the benefits of crypto passive income.

3. Rhino

rhino

5-year growth: +9.09%

Search growth status: When Moon?

Year founded: 2019

Valuation: $52.9 million (Source: CoinGecko)

Funding: Unknown (Private) (Source: Pitchbook)

What they do: Rhino is an L2 blockchain bridge solution that supports multiple chains. This is a DeFi project that brings one-click cross-chain token transfers to its community. Rhino guarantees fast transactions (with waiting times below 60 seconds) and offers multiple features. Among these, we can mention “Swap,” “Earn,” and “Bridge.” Over 500 tokens are available through the project’s swap interface, and the “Earn” feature promises over-the-average annual returns (APYs).

4. Domani

domani

5-year growth: +625.85%

Search growth status: Moon

Year founded: 2017

Valuation: $26.5 million (Source: CoinGecko)

Funding: $480,000 (Seed) (Source: CBInsights)

What they do: Domani is an asset management protocol that democratizes investment through non-custodial tokenized portfolios, or XTFs, enabling seamless minting, trading, and redemption. Unlike traditional finance, where ownership is relinquished, or classic DeFi, where risks are high, Domani ensures investors retain control over their assets. The protocol eschews potentially manipulable oracles for arbitrageurs, providing a safer, more reliable price feed.

5. Deri

deri protocol

5-year growth: -23.46%

Search growth status: When Moon?

Year founded: 2021

Valuation: $6.6 million (Source: CoinGecko)

Funding: Unknown (Private) (Source: Crunchbase)

What they do: Deri is a project that leverages zkSync to let its users trade crypto derivatives. The project converts each trader’s position into an NFT, which, as such, has a value on the secondary market. Trading perpetual futures is the main feature offered by Deri. There’s also the possibility of trading power perpetual contracts and everlasting options. As of 2023, the project’s overall trading volume is above $140 billion, which grew rapidly from the $20+ billion recorded at launch.

6. Symbiosis

symbiosis

5-year growth: +15.77%

Search growth status: When Moon?

Year founded: 2021

Valuation: $8.6 million (Source: CoinGecko)

Funding: $5 million (Seed) (Source: Crunchbase)

What they do: Symbiosis proposes itself as an AMM DEX that aims to pool multiple crypto sources in one user-friendly platform: L2, L1, EVM, and non-EVM projects. In short, Symbiosis intends to become an easy-to-use platform in the decentralized world, just like Uniswap. This team sees the uneven exchange direction among different networks as the main obstacle to the success of DEXs. Therefore, Symbiosis introduces a pool of on-chain projects to average the market liquidity and solve the matter.

7. Cielo

cielo

5-year growth: +37.25%

Search growth status: Moon

Year founded: 2020

Valuation: Unknown

Funding: Unknown (Private) (Source: CBInsights)

What they do: Cielo was born as an easy-to-read information layer for on-chain activity in response to the fact that this sector often requires advanced coding skills. Any Telegram or Discord user can rely on Cielo’s “bot” feature to track a crypto wallet. The platform lets you use this tracking tool in a completely anonymous way, and it works both with your wallet and with that of a third party. The team mentions its smartphone-friendly approach as one of Cielo’s main strengths.

Conclusion 

As shown above, DeFi is the crypto area where zkSync’s popularity is soaring rapidly. This is unsurprising, as the new technology proposes a combination of fast and cheap on-chain transactions.

Within DeFi, the AMM DEX projects enjoy zkSync’s versatile framework.

The scalability offered by zkSync and its successors will likely change the Web3 market balance. Low gas fees and fast transactions solve the initial BTC and ETH problems, and new challenges will arise.