Description
zkFinance is a DeFi protocol operating on zkSync that enables users to lend and borrow crypto assets, earning passive income through supplying assets as collateral and yield-bearing deposits. Users can borrow against their deposited collateral up to a maximum loan-to-value ratio, with liquidation risk if that threshold is exceeded. The platform also provides bridging and cross-chain swap tools to simplify entry into the zkSync ecosystem, with plans for a concentrated liquidity DEX to enable swapping across zkSync tokens in the future.
The protocol focuses on minimizing risk by only supporting prime, well-established assets as lending markets, with price accuracy backed by oracle partners Chainlink and DIA. zkFinance is designed to be decentralized from launch, with the admin key destroyed after a secure kick-off, meaning no governance or further protocol parameter changes are needed. The project also runs an airdrop and rewards program for its native token $ZGT, and has an upcoming integration with THORWallet DEX to give its users access to zkFinance's borrow and lending pools. An audit has reportedly been completed for the protocol.