The Protocol proposes to deploy on Polygon’s zkEVM that’s expected to launch on mainnet on March 27th.
This comprises of the following vote:
- Whether 0VIX should deploy on Polygon’s zkEVM.
zkEVM is a decentralized Ethereum Layer 2 scalability solution utilizing cryptographic zero-knowledge proofs to enable fast and secure off-chain transaction computation also referred to as ZK-Rollup. zkEVM promises to be the scaling solution that can facilitate mass adoption of Ethereum whereas current POS technologies could not handle the required throughput.
If you would like to learn more about zkEVM, please check out this recently-published thread that contains lots of useful information here. You can also read more about Polygon’s progress and achievements in their Blog post here.
0VIX was the first money market that went live on zkEVM’s testnet. You can read more about it here.
Since zkEVM is EVM-equivalent, deploying 0VIX on the mainnet would not require massive development efforts, and being one of the first money markets to deploy on ZK mainnet would provide 0VIX with a strategic advantage.The zkDeFi narrative could drive significant user growth for 0VIX. Users would benefit from security, privacy, and lightning-fast cheap transactions.
Notably Polygon offered the opportunity for 0VIX to become an official zkEVM launch partner of Polygon.
The proposal recommends launching on zkEVM beginning with four markets including ETH, Matic, USDT & USDC. All these assets will be collateralizable and have the same LTV as on 0VIX on the Polygon POS chain.
The options with the most votes will be adopted.
- 2 days
Vote a) Deploy 0VIX Protocol on zkEVM’s mainnet.
- Accept the proposal: Yes
- Further discussion needed