Ferrum Network, a cross-blockchain service company & ecosystemannounced it will integrate the zkSync layer-2 scaling solution into its suite of products. This synergy comes following Ferrum’s participation in the Series B round for Matter Labs, creator of zkSync.
zkSync is a user-centric zero-knowledge (ZK)-rollup platform for Ethereum and is live on the mainnet.
Recent funding into layer-2 scaling provider Matter Labs came from Ferrum Network’s investment arm, Ferrum Ventures. Matter Labs and their ZK-rollup system — zkSync — will now be integrated into Ferrum Network’s products and ecosystem.
Matter Labs is a pioneer of zero-knowledge rollups. The organization launched the first-ever public ZK-rollup prototype in early 2019, was the first to implement recursive ZK proofs on Ethereum, and created the world’s first practical FPGA-based hardware for ZKP acceleration in 2020.
Recently, Matter Labs announced the first EVM-compatible ZK-rollup on Ethereum’s public testnet, allowing developers to deploy existing Solidity applications to a highly scalable, low-cost environment without sacrificing the security or decentralization provided by Ethereum.
“When you really think about it, most of us in this space are here because of Ethereum. Ferrum’s mission has always been to breakdown barriers to mass adoption… and scaling Ethereum is one of the most important milestones in doing so. It’s a bit poetic to have zkSync — a project uniquely positioned to scale Ethereum — as our first official Ferrum Ventures investment.”
– Ian Friend, Co-Founder & COO at Ferrum Network
Integration of zkSync with Ferrum Network
Ferrum will be integrating its Staking-as-a-Service products with zkSync, there products include:
- Traditional Staking
- VIP Staking
- NFT Staking
- Multi-Asset Staking
- LP Staking
These products can foster an enormous amount of TVL on the network and provide a layer of utility for all projects who choose to deploy them.
Secondly, Ferrum will be integrating its multi-chain aggregator — InfinitySwap with zkSync.
This will allow for multi-chain swaps for assets deployed on zkSync making these assets more composable and helping to port liquidity to the network. InfinitySwap will look to source the volume transacted across the protocol by leveraging the LPs of DEXs on the zkSync network.
The ultimate goal of InfinitySwap is to become a smart routing multi-chain aggregator that solves the problem of fragmented liquidity by routing fractionalized transactions toward optimal arbitrage opportunities across multiple networks and DEXs.
“At Matter Labs, we’re humbled by the talented teams that wish to work with us in helping usher in the future of open finance. We considered Ferrum Ventures to be a talented team strongly aligned with our mission and values, and look forward to witnessing the impact they’ll have.”
– Tyler Perkins, CMO at Matter Labs
zkSync Joins the Ferrum Ecosystem
Ferrum Network will also extend the benefits of zkSync further across its ecosystem:
- Iron Alliance – Matter Labs and zkSync is now part of the Iron Alliance — Ferrum Network’s ecosystem of partners. Projects in the alliance will have access to the team at Matter Labs and vice versa.
- Ferrum Advisory Services – Projects incubated by Ferrum Advisory Services will also have direct access to the team at Matter Labs and developer support programs when building on zkSync.
“We couldn’t be more thrilled to be joining forces with Matter Labs and zkSync as they embark on a mission to scale Ethereum. We’ll look to facilitate the process via our stake through Ferrum Ventures, our suite of products, and introducing them to the Iron Alliance. Stay tuned!”
– The Ferrum Network Team