On 24.3.23, the Ethereum ecosystem as a whole has achieved a unique milestone, with the mainnet launch of zkSync Era, a Layer-2 protocol that scales Ethereum with cutting-edge ZK tech.
As a long-term ecosystem project on zkSync and the first derivatives protocol in DeFi to join the ecosystem more than a year ago in 2022, we are excited to follow the mainnet launch with a special pre-deployment of CVI.
Native account abstraction — A huge milestone for the entire Ethereum ecosystem
The first and foremost goal of the deployment is to leverage and promote the use of one of the most unique aspects of zkSync Era — its native account abstraction, which is a pillar for the widespread adoption of web3 technology and DeFi protocols.
The full deployment of CVI on zkSync is planned to leverage this feature in multiple ways, the first of which is now live!
The second goal of the deployment is to introduce and familiarize CVI protocol users and the GOVI community with zkSync.
CVI pre-deployment is now live with additional utility for GOVI as a gas token!
Onboarding to zkSync is simple and concludes with minting a special “zkCVI NFT” (currently designed to promote the use of AA, with an additional use case to be revealed in the future).
The steps to mint the zkCVI NFT:
- Bridge GOVI ERC20 to zkSync from Ethereum mainnet via the zkSync bridge (https://portal.zksync.io/bridge)
- Open the CVI site (https://cvi.finance) and switch to the zkSync chain
- Click the NFT tab and mint the zkCVI NFT, using GOVI to pay for gas fees, no ETH is required in the wallet! This deployment leverages zkSync’s account abstraction to allow paying gas fees with GOVI instead of ETH.
- The NFT will give a unique future discount for using the CVI platform, similar to the GMX blueberry club, more details will be revealed in the future.
- If you already have funds on zkSync you can just go to https://syncswap.xyz/ and swap to $GOVI
Account abstraction (AA) Summary — Unlocking significant opportunities for DeFi
The CVI protocol is excited to promote the usage of AA, by supporting paying gas fees with GOVI instead of ETH. However, this feature is only one of many new use cases, among the features which are possible via AA are:
• Using different authentication methods, like biometrics
• Replacing seed phrases with social recovery
• Gas-less transactions
• Paying gas with ERC20 tokens instead of ETH
• Scheduling one-time & recurring txs
In conclusion, the introduction of CVI on zkSync Era marks a significant change in the Ethereum ecosystem. Through zkSync’s native account abstraction, we aim to enhance the DeFi user experience and introduce a range of new features. This is a meaningful step toward the future of the DeFi world. Overall, the successful deployment is a testament to the ongoing innovation and growth of the Ethereum ecosystem, and of course the CVI.
We would like to invite everyone to join our vibrant community on our social channels. If you have any questions, our team & community are always on stand-by and eager to assist.
v3 Litepaper: https://cvi.finance/files/CVI.v3.Litepaper.pdf
Telegram (group): https://t.me/cviofficial
Telegram (channel): https://t.me/cvichannel