Vince Yang - Founder and CEO of zkLink

We regularly interview the project's founders to learn more about this interesting individual and the story behind their success. We have the chance to deep-dive into their background, their motivation and the vision of their crypto project!

We are pleased to present you with our interview with Vince Yang, founder and CEO of zkLink. Let’s go!

Hi Vince, we hope you’re well! To kickstart, could you please tell us about your professional background and how you entered the Web3 ecosystem? 

Yes, absolutely. So first of all, my background is in engineering, but since the early days, I’ve always remained an avid crypto-tech enthusiast – and consequently, my entrepreneurial adventure naturally began in the Bitcoin mining business in 2019, which was around the bottom of the bear market. During the infamous “DeFi Summer” of 2020, I experimented with liquidity mining and quickly noticed that applications such as Uniswap had successfully fostered significant blockchain and crypto adoption. New blockchain ecosystems began to emerge, and hundreds of applications were being launched on different chains – and I realized a very important pain point: users struggled to move their liquidity between networks as the industry lacked mature and reliable cross-chain interoperability bridging functions. 

This led to my entrance into Web3. I brought together a development and tech team to begin work on zero-knowledge bridging technology and distributed computational systems. 

In May 2021, you launched zkLink, a multi-chain trading infrastructure secured with zk-SNARKs. What’s the main goal behind your project? And which problems is it trying to solve?

When we started designing zkLink, we very early decided that we wanted to build a decentralized, multi-chain future and to do that, we needed to take on one of the biggest problems in DeFi: Liquidity fragmentation among blockchain ecosystems. Thankfully, we found our answer in ZKPs. Early testing allowed for interoperability among different Layer 1s, and we knew then that ZKPs were going to be the fundamental engine to build infra for high-performance ZK applications. 

ZKPs were able to simplify inter-chain communication between ecosystems, solving many key problems in DeFi, such as liquidity fragmentation across blockchains, and, at the same time, turn complex multi-chain DApp deployment ventures into easy processes while making zero compromises on security. 

Coupled with building our own SDK, we were able to build a product that allows developers to access liquidity across Layer 1 blockchains and Layer 2 Rollups, provide APIs for quick and developer-friendly scaling, and fully customizable zkVM architecture that empowers high-performance financial applications such as order book DEXs and AMMs.

You have raised $18.5M in 2 funding rounds ($8.5 + $10M), attracting well-known Web3 investors such as Coinbase Ventures, Ascensive Assets, Morningstar Ventures, and others. Please tell us how you deployed the capital raised. 

Our previous funding has been strategically allocated to various pivotal areas to foster growth and innovation in zkLink’s many operations.

A significant portion of capital has been dedicated to building a robust team. Recognizing that the success of any tech venture heavily relies on the talent and expertise of its team, we have invested in recruiting skilled professionals from various fields. This includes not just developers and engineers to enhance our technical capabilities, but also experts in marketing, business development, and other areas critical to our company's growth and success. Our team has now proudly expanded to over 30 high-skilled individuals with a diverse set of backgrounds and expertise.

Core product development has been another primary focus of our capital deployment. In the rapidly evolving landscape of Web3, staying ahead of the curve in terms of product innovation and refinement is crucial. We have channeled a substantial amount of our resources into research and development, ensuring that our products not only meet current market demands but are also scalable and adaptable to future technological advancements.

In particular, we are funding product developments such as finishing our TS-zkVM circuit extension, integrating modular DA solutions, turning on support for AMM and CLOB DApps in hybrid mode, opening a new Proof Auction Market, trading APIs, and NFT minting. We have more in the pipeline and all of our future product developments can be found in our 2024 roadmap.

Additionally, a part of the funds has been utilized to organize and participate in key industry events like the L3 Summit that we initiated at Devconnect Istanbul. Such events are not just about showcasing our products and technologies – they’re crucial for networking, understanding emerging industry trends, and building strategic partnerships. 

Lastly, a portion of the capital has been allocated towards awareness and education on Layer 3 technologies. We’re pushing forward in educational initiatives and marketing campaigns to increase understanding and adoption of L3 technologies, especially as it relates to zkLink. By doing so, we expect not only to expand our user base but also to contribute to the overall growth and maturity of the Web3 ecosystem.

In summary, the funds raised have been meticulously utilized to build a strong foundation for zkLink through team expansion, product development, industry engagement, and educational initiatives, all of which are essential components for the long-term success of our protocol.

Now, let’s dive into your products. Specifically, in November 2023, you introduced Nexus, a Multi-ZK-rollup layer 3 infrastructure trading layer for the Ethereum network. What are the main benefits of this new product?

Yes, indeed. I’d first like to say that zkLink Nexus represents a crucial advancement for the crypto industry because we have introduced the FIRST Multi-Chain, Multi-ZK-Rollup Layer 3 infrastructure that’s tailored to empowering high-performance ZK applications. 

Nexus consolidates all the pertinent transfer information within its network to allow it to independently verify each transaction. In order to achieve transaction verification, the zkLink protocol commits ZKPs to the connected Layer 2s, and subsequently, these Layer 2s transmit the ZKPs to the Ethereum mainnet, where the Ethereum monitoring contracts verify the consistency of the proofs and relay the results back to the Layer 2s, facilitating the final confirmation and execution of transactions. 

This innovative approach of, visually speaking, being built on top of and being integrated with existing Layer 2s brings forth several advantages for DApp developers, which include having unified liquidity between blockchain layers, enhanced scalability, reduced gas costs, and greater app-specific customizability.

Secondly, zkLink Nexus provides a comprehensive suite of customized SDKs and APIs that are tailored for DApps. This toolkit feature allows developers to seamlessly deploy highly customizable trading-focused DApps, which thereby grants them access to aggregated liquidity across multiple Layer 2 environments and faster development times.

zkLink Nexus’s last benefit is its customizable App Rollup deployment framework – the Trading-Specific zkVM (TS-zkVM). The TS-zkVM offers App Rollup developers a modular approach with a focus on the development of the Execution Layer and the Settlement Layer to provide DApp developers with a fast and customizable rollup deployment solution. zkLink Nexus integrates third-party modular solutions for the DA and the Sequencing Layer, allowing developers to customize the blockchain rollup’s key components to meet their diverse demands or different use cases.

In May 2023, you completed The Dunkirk Test, the first-ever emergency shutdown and user asset recovery test. Why was this an important test for the project and how many users joined the campaign?

This campaign was of significant importance because it targeted “asset security,” thus showcasing our emphasis on the importance of ensuring a secure environment for users' assets. The Dunkirk test validated and stress-tested security measures implemented within the zkLink ecosystem to fortify user confidence in the platform.

The open-source recovery program took only 30 minutes to set up and helped over 50,000 addresses withdraw assets from a recovery node. We generated over 110,000 zero-knowledge proofs and made 329,400 transactions during the campaign.

In the end, the Dunkirk Test not only boosted user confidence in the robustness and security of the zkLink system, but also had a far-reaching long-term impact because it marked a pivotal moment for the crypto industry – catalyzing change and progress in the realm of security and resilience. We aimed to make the Dunkirk Test an industry standard and that the Dunkirk test can drive improvements in platform security and risk management across the DeFi ecosystem.

Now that we are entering a more positive market phase, are you doing anything differently to prepare for the next bull run?

Bull run preparation is always done during the bear market – and that principle also applies to us. However, the primary focus will remain on our product, our brand, our roadmap, and our community. While not a complete certainty yet, as we theoretically enter a more positive phase in the market regarding price recovery, there’s still a lot of development and innovative creation that needs to occur. Therefore, we plan to continue growing our community, enhancing our brand awareness through marketing and content, expanding our business relationships and integrations with relevant protocols, and attracting more developers and DApps to our ecosystem. 

We’re right in the middle of an exciting segment, which is Ethereum scaling and development through zero-knowledge proof and rollup technology – so in preparation for the next bull run, we’re going to define our Layer 3 narrative to the rhythm of the market and stay clear-eyed and adaptable to how the industry develops before the next significant bull run.

You have recently revealed a new technical roadmap for 2024. Can you elaborate on it, and is there any particular initiative you are looking forward to?

Sure, our overall technical roadmap is designed with many developments and initiatives towards building a global product. In Q1 2024, we’re going to be working on our core SDK features for developers who want to realize ZK’s full potential by implementing TS-zkVM circuit extensions and Modular DA to make DApp development a lot more customizable. The inclusion of these two features on a granular level will very quickly address the issues related to multi-chain compatibility and improve the overall performance of DApps.

Later in Q2 2024, we’ll continue developing and improving our product to support other high performance Dapps such as a Central Limit Order Book (CLOB) and AMMs as we continue to align with other L2 mainnets and compete with emerging L1s. During this period, we expect the impact of ZK Layer 3s to begin competing directly with other L2 and L1 networks for DApp development developer market share – That is when we will soon announce a Developer Incentive program to facilitate a developer-friendly environment and support for new entrants into building our Layer 3.

In Q3 & Q4, we will double down on building features such as cross-rollup interoperability functionalities tol seamlessly aggregate native assets and liquidity across L1s and Ethereum L2s. During this period, we’ll also begin the development of a new recursive proof verification system that’s not only more secure, but that’s a faster and more cost-effective solution. This new proof system has demonstrated extreme compatibility across our multi-chain infrastructure — and will serve as the basis for our convenience-based SDK and APIs with the release of a Multi-Chain shared Liquidity-as-a-Service.

We foresee that a multi-chain landscape is an inescapable future, and believe that with this roadmap we are able to help developer teams build products with fast App Rollup deployment solutions based on our SDKs and APIs.

Is there anything else you would like to share with our community?

We deeply appreciate our community's support. As a tech-driven team, we recognize the challenge of translating complex technical developments into accessible content for everyone. To achieve widespread adoption, we're encouraging each community member to contribute educational content. Cryptocurrency trading can be intricate, and we believe that our community can act as brand ambassadors, simplifying information and making it easily accessible. By breaking down barriers, we aim to ensure that the advanced Layer 3 infrastructure we're building benefits a broader audience.

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Thank you Vince for the interesting deep dive into zkLink. Good luck with your project!

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The CryptoAtlas Team