Zecrey layer 2 is a fully decentralized layer under privacy protection. In other words, all transactions are with privacy protection in layer 2. Zecrey team adopts Sigma protocol to develop privacy algorithm, and it shows high efficiency(at most 1-2 seconds).
What's the difference of transfer between L1 and L2?
The basic function is similar for users to transfer certain assets to other users. In L1 wallet, users enter L1 address to make transactions, while in L2, users can only transfer to L2 address with zecrey suffix. And in L1 users can only transfer to one address at one time in L1, but in L2 one-to-many transfer, users can transfer to more than one receiver. What is more, all L2 transactions are under Zecrey's built-in privacy protection.
What is Lock & Unlock?
Locking is a mechanism in which users cannot trade the locked assets for a certain period of time after locking. The purpose of locking assets is to deepen the depth of the L1 fund pool and avoid the situation where users cannot withdraw assets. In Zecrey' subsequent versions, users can obtain REY at a certain annual interest rate as rewards of locking assets. Unlocking means granting permission to spend assets through smart contracts, which is the opposite process of locking.
Which token pair does Zecrey support in the swap?
Zecrey supports the swap of the following pairs at this stage, and the list will gradually grow in the future.
REY to: ETH, USDT
ETH to: REY, NEAR, USDT, MATIC
NEAR to: ETH, AVAX, BNB, USDT, BIT
MATIC to: ETH, USDT
AVAX to: NEAR, USDT
BIT to: NEAR, USDT
USDT to: ETH, REY, NEAR, USDC, DAI, BNB, MATIC, AVAX, BIT
USDC to: USDT, DAI
BNB to: NEAR, USDT
DAI to: USDT, USDC
Why is the swap price in L2 different from the market price?
The swap of L2 is in the DEX based on automatic market maker (AMM). Its exchange rate mainly depends on the amount of funds in the token pool in the smart contract of the system. Due to the insufficient depth of the token pool during the test period, there are certain discrepancies between the swap price and the real market price.
What is Slippage Tolerance?
Slippage Tolerance is the pricing difference between the price at the confirmation time and the actual price of the transaction users are willing to accept when swapping on AMMs. This difference is mainly caused by market fluctuations. Slippage tolerance is set as a percentage of the total swap value.