In an increasingly decentralized finance (DeFi) ecosystem, a nuanced development has been the incorporation of Consensys-developed zkEVM rollup Linea by a prominent DeFi liquidity protocol. The move was made by Symbiosis, a liquidity protocol that broke into the mainstream with its stablecoin liquidity solution in March 2022.
The integration of the Consensys-developed scalable solution, Linea, is Ethereum-compatible, allowing developers to reuse a great deal of existing infrastructure for designing multi-asset-based solutions. This integration could dramatically alter the landscape, offering an effective solution to the scalability challenge laid out by Vitalik Buterin, the co-founder of Ethereum.
In the past, Symbiosis has played a key role in fusing various layer-2 scalable solutions into its framework. Its collaboration with Matter Labs led to the integration of zkSync, another zk rollup, which earned Symbiosis the ability to provide one-click swaps from Ethereum, Polygon, Avalanche, BNB Chain, Telos amongst other blockchains.
Nick Avramov, co-founder of Symbiosis, enlightens us about his protocol’s interaction with L2 solutions and the factors driving their choice of Linea. Avramov indicated that Linea’s implementation resonates with Symbiosis’s strategy to support popular L2s. The decision factored in community feedback and requests from partners utilizing the Symbiosis SDK/API.
It is important to note that the rise of zk rollup solutions has enhanced user onboarding capabilities in domains like GameFi and Social. There is room for more user engagement without compromising security, considering their heavy reliance on Ethereum and reduced costs. The zk solutions reflect a natural evolution of rollups, leading Avramov to predict the eventual phasing out of Optimistic rollups.
Indeed, the integration of zk rollups has promoted Symbiosis’s growth, magnifying its transaction throughput by 300% on a monthly basis and raising its cross-chain trading volume beyond $500 million. The expectation is that the integration of Linea should further boost cross-chain swaps, potentially exceeding the billion-dollar mark in volume within the coming months.
Arguably, therefore, the future of blockchain seems to be interwoven with layered scalable solutions, like zkEVM rollups, which gear towards resolving cross-chain/multi-chain issues. Bolstering processing efficiency and ensuring safe cross-chain trading operations, these rollups might hold the key to optimizing DeFi operations at a time when versatility, speed, and security are the name of the game.
Source: Cointelegraph
