In order to trade on ZKEX, users need to deposit their funds from the original L1 chain (e.g. Ethererum, Solana etc.) to their wallet on L2. The original assets are held by ZKEX’s smart contract on the L1 chain, and equivalent funds released on L2.
All transactions are secured on L2 by zero-knowledge proofs. This allows the wallet to be used off-chain, while still ensuring security at the same level as the L1 chain.
Depositing into the L2 Wallet is simple. The user selects the supported chain where their assets are, then selects a token amount to lock those funds into the ZKEX smart contract.
There is no charge for a deposit, other than any gas fees incurred from the originating L1 chain.
There are currently two ways to withdraw assets from a user's ZKEX’s L2 Wallet, with different speeds and costs.
Withdrawals incur both a fee and gas fees from the destination L1 chain.
ZKEX also offers a fast withdraw option, which allows users to withdraw assets from your L2 Wallet via a broker. The broker will take a Fast fee based on the required amount. This allows you to bypass the transaction time taken with a regular withdraw.
Recently, the standard withdrawal time might exceed 3 hours, depending on level of activity in ZKEX transactions.