Author
@RoundElephant
References
Simple Summary
This proposal calls for the deployment of the 1inch Aggregation Protocol, 1inch Limit Order Protocol, and 1inch Fusion Mode on zkSync Era.
Abstract
If passed, this proposal will call for the deployment of the 1inch Aggregation Protocol, 1inch Limit Order Protocol, and 1inch Fusion Mode on zkSync Era. zkSync Era is a Layer-2 protocol that allows Ethereum to scale in a trustless and decentralized manner – this deployment will allow 1inch users to make ultra cheap transactions with Ethereum-level security.
Motivation
By deploying the 1inch Network protocols on zkSync Era, users will benefit from lower gas fees and faster transaction confirmations. This will make the full suite of 1inch Network protocols more accessible for users without sacrificing the security of the protocol.
Specification
This proposal serves as a signal from the 1inch Network DAO to 1inch Labs. Once passed, the 1inch DAO calls for 1inch Labs to deploy the 1inch Aggregation Protocol, 1inch Limit Order Protocol, and 1inch Fusion Mode on zkSync Era. 1inch Labs shall also maintain the deployment to ensure an optimum user experience.
The deployment of 1inch Network protocols on zkSync Era will require collaboration between the 1inch core contributors and core contributors of Matter Labs.
Rationale
zkSync Era is the first zero knowledge rollup with genearalized EVM compatibility live on mainnet. Deploying the 1inch Network protocols on zkSync Era will directly benefit both the users of 1inch protocols as well as the 1inch Network itself: users will have a less expensive way to make transactions with L1 level security, while the 1inch Network will benefit from the increased volume and adoption.
Considerations
The deployment of 1inch Network protocols on zkSync Era has no governance implications.
1inch will have no liquidity locked on zkSync Era, there is no security risk associated with this deployment.
The increased usage should lead to higher treasury revenues for thew 1inch DAO.