zkSync developer Matter Labs announced that GRVT, a hybrid decentralized exchange, will use ZK Stack to build its own appchain, becoming the first member in the zkSync Hyberchain ecosystem. GRVT plans to launch its closed Alpha next month, with the mainnet coming in Q1 2024.
ZK Stack is a modular, open-source framework that allows developers to build ZK-powered custom Layer2s or Layer3s, which are called Hyperchains, based on the zkSync Era code. GRVT will be built as a Layer3 Validium in the Hyperchain ecosystem, aiming to provide the user experience of CEXs and the decentralization and non-custody of DEXs at the same time.
According to Matter Labs, by leveraging ZK Stack, GRVT is expected to achieve speeds of up to 600,000 trades per second, and will be connected to all the apps in the zkSync ecosystem as well as other Hyperchains via Hyperbridge.
GRVT has raised $7.1 million in two previous funding rounds led by Matrix Partners and Delphi Digital.
Related: GRVT, a Hybrid Exchange, Raised $5M, Led by Matrix Partners and Delphi Digital
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