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SummaryValue SecuredRisk summaryRisk analysisData availabilityState validationOperatorWithdrawalsPermissionsSmart contracts

ZKSwap 2.0 logoZKSwap 2.0

This project is archived.

About

ZKSwap is a fork of ZKsync with added AMM functionality. Based on ZK Rollup technology, ZKSwap aims to execute the full functionality of Uniswap on Layer 2, but increase the TPS, and make transaction processing cheaper.

Value secured
$163.65 K2.66%
Canonically Bridged
$163.65 K
Natively Minted
$0.00
Externally Bridged
$0.00
View TVS Breakdown
  • Tokens
  • Past day UOPS
    No data
  • 30D ops count
    No data
  • Type
    ZK Rollup
  • Purposes
    Payments, Exchange
    • Sequencer failureState validationData availabilityExit windowProposer failure
    Explore more in Discovery UI

    About

    ZKSwap is a fork of ZKsync with added AMM functionality. Based on ZK Rollup technology, ZKSwap aims to execute the full functionality of Uniswap on Layer 2, but increase the TPS, and make transaction processing cheaper.

    Value Secured

    2024 May 21 — 2025 May 21

    Total value securedTotal
    $163.65 K2.66%
    Canonically BridgedCanonically Bridged ValueCanonical
    $163.65 K2.66%
    Natively MintedNatively Minted TokensNative
    $0.000.00%
    Externally BridgedExternally Bridged ValueExternal
    $0.000.00%
    View TVS breakdown
    Risk summary
    This project includes unverified contracts. (CRITICAL)
    Version 3 of the protocol called ZkSpace is available and users are encouraged to move their assets there.

    Funds can be lost if

    1. the user is unable to generate the non-trivial ZK proof for exodus withdraw.

    Users can be censored if

    1. the operator refuses to include their transactions. However, there exists a mechanism to independently exit the system.

    MEV can be extracted if

    1. the operator exploits their centralized position and frontruns user transactions.
    Risk analysis
    This project includes unverified contracts. (CRITICAL)
    Version 3 of the protocol called ZkSpace is available and users are encouraged to move their assets there.
    Sequencer failureState validationData availabilityExit windowProposer failure
    Sequencer failure
    Force via L1

    Users can force the sequencer to include a withdrawal transaction by submitting a request through L1. If the sequencer censors or is down for , users can use the exit hatch to withdraw their funds.

    State validation
    ZK proofs (SN)

    SNARKs are zero knowledge proofs that ensure state correctness, but require trusted setup.

    Data availability
    Onchain

    All of the data needed for proof construction is published on Ethereum L1.

    Exit window
    Unknown

    Some contracts are not verified, so there is no way to assess the exit window.

    Proposer failure
    Use escape hatch

    Users are able to trustlessly exit by submitting a zero knowledge proof of funds.

    Data availability

    All data required for proofs is published onchain

    All the data that is used to construct the system state is published onchain in the form of cheap calldata. This ensures that it will always be available when needed.

    1. ZKSwap Introduces Practical ZK Rollups - Medium blog
    Learn more about the DA layer here: Ethereum logoEthereum
    State validation
    Validity proofs

    Each update to the system state must be accompanied by a ZK proof that ensures that the new state was derived by correctly applying a series of valid user transactions to the previous state. These proofs are then verified on Ethereum by a smart contract.

    1. ZKSwap Introduces Practical ZK Rollups - Medium blog
    Operator

    The system has a centralized operator

    The operator is the only entity that can propose blocks. A live and trustworthy operator is vital to the health of the system.

    • MEV can be extracted if the operator exploits their centralized position and frontruns user transactions.

    1. ZKSwap Validator - ZKSwap wiki

    Users can force exit the system

    Force exit allows the users to escape censorship by withdrawing their funds. The system allows users to force the withdrawal of funds by submitting a request directly to the contract onchain. The request must be served within a defined time period. If this does not happen, the system will halt regular operation and permit trustless withdrawal of funds.

    • Users can be censored if the operator refuses to include their transactions. However, there exists a mechanism to independently exit the system.

    1. ZkSync.sol#L404 - ZKSwap source code
    Withdrawals

    Regular exit

    The user initiates the withdrawal by submitting a regular transaction on this chain. When the block containing that transaction is settled the funds become available for withdrawal on L1.ZK proofs are required to settle blocks. Finally the user submits an L1 transaction to claim the funds.

    1. Make Transaction

    Forced exit

    If the user experiences censorship from the operator with regular exit they can submit their withdrawal requests directly on L1. The system is then obliged to service this request. Once the force operation is submitted and if the request is serviced, the operation follows the flow of a regular exit.

    1. ZkSync.sol#L404 - ZKSwap source code

    Emergency exit

    If the enough time deadline passes and the forced exit is still ignored the user can put the system into Exodus Mode, disallowing further state updates. In that case everybody can withdraw by submitting a zero knowledge proof of their funds with their L1 transaction.

    • Funds can be lost if the user is unable to generate the non-trivial ZK proof for exodus withdraw.

    1. ZkSyncCommitBlock.sol#L230-L246 - ZKSwap source code
    Permissions
    A dashboard to explore contracts and permissions
    Go to Disco
    Disco UI Banner
    Disco UI BannerExplore in Disco

    Ethereum

    Actors:

    zkSwap 2.0 Admin 0x9D73…6255

    This address is the master of Upgrade Gatekeeper contract, which is allowed to perform upgrades for Governance, Verifier, VerifierExit, PairManager and ZkSync contracts.

    Active validator 0x3810…2ae4

    This actor is allowed to propose, revert and execute L2 blocks on L1. A list of active validators is kept inside Governance contract and can be updated by zkSwap 2.0 Admin.

    Smart contracts
    A dashboard to explore contracts and permissions
    Go to Disco
    Disco UI Banner
    Disco UI BannerExplore in Disco
    A diagram of the smart contract architecture
    A diagram of the smart contract architecture

    Ethereum

    ZkSync 0x6dE5…47e3Implementation (Upgradable)Admin

    The main Rollup contract. Operator commits blocks, provides ZK proof which is validated by the Verifier contract and process withdrawals (executes blocks). Users deposit ETH and ERC20 tokens. This contract defines the upgrade delay in the UPGRADE_NOTICE_PERIOD constant that is currently set to 8 days. This contract can store any token.

    ZkSyncCommitBlock 0xE26E…CAD4

    Additional contract to store implementation details of the main ZkSync contract.

    ZkSyncExit 0xC022…eea0

    The source code of this contract is not verified on Etherscan.

    Governance 0x86E5…8E8BImplementation (Upgradable)Admin

    Keeps a list of block producers and whitelisted tokens.

    UniswapV2Factory 0xD2cb…575DImplementation (Upgradable)Admin

    Manages trading pairs.

    VerifierExit 0xb568…E513Implementation (Upgradable)Admin

    The source code of this contract is not verified on Etherscan.

    UpgradeGatekeeper 0x0DCC…02C7

    The source code of this contract is not verified on Etherscan.

    The current deployment carries some associated risks:

    • Funds can be stolen if a contract receives a malicious code upgrade. There is a 8 days delay on code upgrades.

    • Funds can be stolen if the source code of unverified contracts contains malicious code (CRITICAL).