SyncSwap Introduction
SyncSwap is a decentralized trading platform established by Matter Labs on the zkSync Era testnet. The protocol aims to be a liquidity solution for the zkSync Era network transaction layer and is fully open source and composable, eliminating integration barriers in the zkSync ecosystem. Although funding information has not been disclosed at present, the support from Matter Labs can bring better development to SyncSwap and may become the leading Dex in the future zkSync ecosystem.
This Dex has the characteristics of being permissionless and fully open for public use, allowing anyone to freely token swap and become a liquidity provider on SyncSwap to earn profits.
The SyncSwap protocol will charge transaction fees for all trades. The transaction fee for the Classic Pool is 0.1%, liquidity providers charge 0.07%, and the protocol charges 0.03%. This means that liquidity providers will receive 0.07% of all trades in the pool. For example, in a transaction of 100,000 USDC added to the liquidity pool, the liquidity provider can earn 70 USDC.
Interaction Process
Claiming Test Tokens
First, you need to claim test tokens on the official website.
https://goerli.portal.zksync.io/
https://goerli.portal.zksync.io/bridge
Swap and Add Pool (Using USDC as an example)
Go to the SyncSwap website, unlock your wallet, and switch to the zkSync Era testnet.
https://syncswap.xyz/
Next, perform a swap by selecting ETH and one of the tokens such as USDC, USDT, DAI, WETH, etc. (This article uses USDC as an example). As shown in the image, you can choose the proportion for the swap, and it is recommended to select 50% or 25%.
Next, add liquidity by clicking on Pool, then click on New Position and Enter Pool in the top right corner.
Click on Deposit to deposit ETH and USDC and add liquidity.
Next, switch to Withdraw, click on Permit LP token and Withdraw Liquidity (remove liquidity). You only need to remove a portion, and confirm it in your wallet.
Finally, you can click on My Position to view the tokens you have added to the liquidity pool.