Introduction to Zecrey Layer 2 Protocol

Introduction

This article presents What is a Layer 2 Blockchain, an overview of the implementation of Zecrey’s L2 protocol and the various functionalities enabled by Zecrey L2 protocol.

What is a Layer 2 Blockchain, and what does it mean?

Why do we need a Layer 2 protocol?

Zecrey L2 Protocol

L2 Account Activation

What is Zecrey L2 wallet address?

L2 Transfer

What’s the difference between L1 and L2 transfers?

Swap

Why is the swap price in L2 different from the market price?

Add Liquidity

What is Add Liquidity?

Remove Liquidity

1- Click on Swap
2- Click on Add Liquidity, and click the clock-like button in the upper right corner to view liquidity.
3- Click on Detail to select the liquidity pair to remove.
4- Click on Remove
5- Click on Confirm to confirm the transaction

Unlock Assets

What is Unlock Assets?
Unlocking means granting permission to spend assets through smart contracts, which is the opposite process of locking. Unlocked assets and rewards will be sent to the users’ L2 accounts and become available for use.

Withdraw

What does it mean to withdraw?
Withdraw is to take assets back to L1 wallet address supported by Zecrey, which is part of cross chain. It is a cross-chain operation that consists of taking assets back to an L1 wallet supported by Zecrey.

Summary

Zecrey L2 protocol is based on ZK-Rollup protocol and it enables scalability, privacy and cross-chain transactions. This significantly reduces gas fees and improves performance. To be able to use the L2 protocol functions, one has to activate an L2 account and deposit funds. The user can then have the ability to transfer assets, perform swaps, add/remove liquidity under a built-in privacy protection.

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