1/21
ZKsyncs Atlas stack means it is processing 10x the number of TPS of US credit cards, in a process that is:
-sub-1 second finality
-cryptographically provable
-0.06% the cost of an average interchange fee
-possible in private environments
2/21
Most consumer apps won’t care as they’ve shown they’ll sadly take the trust assumption trade-off to reach scale.
But transnational financial entities will *DEEPLY* care about being able to have trustless verifiability at scale.
3/21
Right now though, there is a disconnect between the @zksync tech stack as a product you develop on and the benefit to the $ZK token.
Namely because ZK’s Era chain isn’t an attractive landscape at the moment.
4/21
It’s the same problem we’ve seen with @Optimism - you can build a great tech stack but “if you build it they will come” stopped working in crypto ages ago.
5/21
To their credit @gluk64 has pivoted the main positioning of the company to focusing on being a service provider for chains - which I think is the right choice, but there are still some major gaps.
6/21
I think chains in the ZK ecosystem could easily represent multiple $50B+ opportunities but *only* if the team can correctly seize on the opportunity, better streamline it, and better communicate it.
If they can, then $ZK itself could be a $500B+ token someday.
7/21
What I hope to see:
1) Off-The Shelf Deploys.
Nothing kills a startup more than the “Book a Demo” button by itself.
Partner with a RaaS provider, give me a pricing page and a deploy wizard for some basic ZKStack configs.
8/21
The “Book a Demo” button should be under a heading like “need customization?”
And for any customization, tell them the business models you work on.
Sales calls should be optional if you’re a provider, do not make them a bottleneck.
9/21
2) Tokenomics Clarifications:
Right now, the main value of chains operating in the ZKSync ecosystem is paying Gateway fees in $ZK
It’s unclear if:
-ZK Connect has fees (it should)
-It’s unclear if self run prividium chains pay into the eco
-it’s unclear what costs are
10/21
Not only can investors not estimate value with a lack of clarity - but customers cannot plan their business when they don’t have clarity on costs either.
Give us documentation on what costs, what doesn’t and the estimated operational costs.
11/21
3) Services-to-Token Burn:
Setting yourself up as a service provider on an open stack means we run into the “Optimism problem”
Your motivations as a company could bring in strong revenue without benefiting the ecosystem.
12/21
To solve this, Matter Labs should commit to:
-Offering a RaaS model where a portion of all proceeds buy-and-burn $ZK
-Committing that a portion of all consulting and customization work goes to buy-and-burning $ZK
13/21
4) A core AMM-swap system:
ZK chains have the ability to have shared liquidity.
But most AMMs have no incentive alignment to pursue this as they want territory capture.
14/21
Similar to how LayerZero maintains Stargate as their core integration, Matter Labs should develop and maintain a swap system across ZK chains where the fees and MEV return to $ZK
This ensures the ecosystem captures volume benefit even as you drive fees lower
15/21
5) Stock Tooling:
Lastly, partner with people like @withAUSD, @Stablecoin or @SuperstateFunds to create easy ways for financial providers to one-click deploy stablecoins and RWAs with broad interop.
16/21
If your main clientele are private financial entities, we know what they are going to want to use.
Outsource that work so it’s easy for them to deploy with existing providers in exchange for a basis point charge.
That charge can come back to $ZK
17/21
Until $ZK pushes forward in this way, or we see more consumer chains drive actual demand usage in the ecosystem, I think the $ZK token will always lag the actual value of the tech by several orders of magnitude.
18/21
Not to mention they have a really hard time practically communicating how the tech changes things for the business, the consumer, or their ecosystem.
19/21
So while I’m hopeful for $ZK, until I see some of those developments, I think I’d focus more on assets who benefit from running on ZkSync like @AbstractChain
20/21
And watching for which classic entities are building there for example Xsolla which is hinting at an IPO and who you can get equity of on secondary markets.
21/21
Either way, the tech is genuinely at a scale that no other stack can achieve in the same way.
So there is a *HUGE* opportunity there, and the question now is:
-Can they or someone in their ecosystem seize it in time?
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