Strategic Partnership Announcement: ZkTube Protocol & Bagels Finance
Bagels Finance, the first cross-chain leveraged liquidity mining protocol based on Ethereum Layer2, BSC and HECO, introduced its new strategic partnership with ZkTube, a layer 2 protocol which uses zero knowledge proof and rollup of ZK rollup to realize low transaction fee and high TPS between ETH and erc20.
Bagels team will deploy Dokodoa smart contract on Zktube network in its future version updates. With the help of Zktube network, Bagels finance will allow users to participate in cross-chain liquidity minning with less gas fee and an extra layer of security. Bagels finance team will continue to work with Zktube to improve the usesability of the ethereum network, and provide the best yield farming strategies to all DeFi users.
Etherum layer 2 solution is a crucial component within the DeFi field. ZkTube will be the perfect bridge to further enhance the interoperability between Bagels and etherum network.
Bagels Finance is the first cross-chain leveraged liquidity mining protocol based on Ethereum Layer2, BSC and HECO. Users can deposit ETH, WBTC, USDT, DAI, BNB, HT and other assets into smart contracts to earn high APY; borrowers can borrow with 2–10 times leverage, thus get up to 2–10 times of the original APY and LP trading fees. It provides better liquidity for LP mining and decentralized trading in the Ethereum, BSC and HECO ecosystems.
Bagels optimizes the trading process to maximize liquidity mining positions and the APY. In addition to high interest rate, users can also earn deposit mining APY and leveraged mining APY, and receive BAGEL governance token rewards according to deposit/ borrow portions. Users can collaterize BAGEL to participate in the DAO decentralized governance and receive a 40% dividend from the Bagels platform. 20% of the proceeds are used to buy-back and burn BAGEL, making BAGEL a more valuable asset in long run.
About ZkTube ($ZKT):
zkTube is a project built and developed on layer2 based on the PLONK algorithm protocol using ZK-Rollup technology. It can improve scalability by transferring batches of transactions to a single transaction. Its essence is to compress the user state on the chain and store it in a Merkle tree and transfer the user state change to the chain while ensuring the correctness of the user state change process under the chain through a Zero-Knowledge proof mechanism. The cost of directly processing user state changes on the chain is relatively high, but only using the smart contract on the chain to verify the correctness of a Zero-Knowledge proof is relatively low. In addition, the required remittance information is transmitted to the contract along with the certificate, which is convenient for users to verify accounts.
Please click the following links for further more information about the ZkTube($ZKT):
Twitter | Telegram (Official) | Medium| Official Website
Please click the following links for further more information about Bagels Finance:
Twitter | Telegram (English) | Telegram (Korean) | Telegram (Vietnamese)
Medium | Visit us on https://https://bagels.finance/