L1 Bridged ZK Token Upgrade for New ZKsync Protocol Features

Token Mechanics
1

The ZKsync Association is preparing a proposal to upgrade to the Ethereum mainnet L1 ZK bridged token contract.

As of today, the ZK token contract on Ethereum mainnet is a bridged representation of the token on ZKsync Era, with a narrower set of functions. The upgrade will aim to support new ZKsync protocol features, such as those related to Prividium Connect and the interop fee switch.

The ZKsync Association Governance Team is working with ScopeLift and Matter Labs to develop the technical proposal for the upgrade. Once the upgrade is ready, a detailed proposal will be shared on the forum and follow standard governance procedures.

Development Process

The work is expected to proceed through the following stages:

  1. [Ongoing] ScopeLift and the ZKsync Association will complete the technical design and implementation.
  2. The proposal and supporting technical details will be published in the governance forum for Delegate review.
  3. The implementation will undergo the necessary technical and security reviews.
  4. The proposal will be submitted as a ZIP for approval.
  5. Subject to governance approval, the L1 token contract upgrade will be executed.

Details of the contract changes will be set out in the proposal. Further details will be shared as the proposal progresses.

2 Likes