🔄ZKX Account

This section has the details of ZKX account which is an enabler for trading on ZKX exchange and several other dapps on L2.

The journey towards mainstream retail adoption of Decentralized Exchanges (DEXs) has been marred by challenges: subpar user interfaces, limited asset offerings, absence of fiat on/off ramps, and markets lacking liquidity. In contrast, Centralized Exchanges (CEXs) present different issues; users don't have access to their funds and are not decentralized.

While most protocols focus on fixing the problems in the current DeFi ecosystem, they are missing the big picture. The challenge with DeFi projects isn’t only to cater to DeFi users but to onboard new users into the ecosystem simultaneously. There lies an opportunity to attract users from emerging markets, willing to explore DeFi & looking for high-yield opportunities.

So the question is – how do we make it happen?

Enter ZKX Account

The equation is simple: Emerging Markets + Seamless User Experience + Account Abstraction = Mass Adoption.

Onboarding to new ecosystems in DeFi is painful and requires bridging and multiple steps. This makes it challenging for users trading on centralized exchanges to transition and begin their DeFi journey. Keeping this in perspective, we want to deliver a seamless onboarding journey similar to that of CEXs with the security and privacy that a DEX provides.

This approach led us to our first product of ZKX on mainnet, leveraging Starknet’s native account abstraction and Starkway our L1 to L2 bridge. The account is currently deployed on Starknet mainnet with Cairo 1.0. We plan to expand the ZKX account to other L1s and Rollups, aiming for a truly omni-chain experience for our users.

Benefits of Creating a ZKX Account

1. Seamless User Experience: The first version of the account ensures a DeFi-centric experience using the seed phrase. Very soon, we'll progress towards web2-friendly logins, eliminating users' need to record or memorize their private keys and simplifying the onboarding process.

2. Self custody | Complete control on your account: Your ZKX account operates as a self-custodial account on Ethereum Layer 2. Users enjoy seamless bridging to Starknet, eliminating multiple steps in their journey to start gasless trading with the ZKX Appchain.

3. Gamified Journey with ZKX Account: Imagine your ZKX account as the key to unlocking milestones toward the exchange's Mainnet. This account transforms your engagement with ZKX into a gamified journey, reflecting your participation in upcoming campaigns through NFT badges.

4. All-in-one DeFi Hub: ZKX account will become the central hub for all your DeFi needs, featuring perpetual swaps, staking, and various DeFi products—all in a single, user-centric application.