Q2. ZkSync is a scaling solution for Ethereum that is live on mainnet. Some of the main features of ZkSync are the extremely low transaction fees and trustless protocol design. You can read more about ZkSync here.

Users can also deposit ERC20 tokens into ZkSync. Which ERC20 tokens have been deposited the most (in $ volume and total count) in the last 60 days? Visualize and explain both findings.

Description of work In this work, we want to examine the ERC20 tokens deposits into zkSync including:

• Which ERC20 tokens have been deposited the most (in $ volume) in the last 60 days
• Which ERC20 tokens have been deposited the most (in total count) in the last 60 days

Introduction

zkSync is a trustless protocol for scalable low-cost payments on Ethereum, powered by zkRollup technology. It uses zero-knowledge proofs and on-chain data availability to keep users' funds as safe as though they never left the mainnet.

zkSync features

• Mainnet-level security with zero reliance on 3rd parties
• ETH and ERC20 token transfers with instant confirmations and 10-minute finality on L1
• Ultra-low transaction fees (~1/100th of mainnet costs for ERC20 tokens and ~1/30th for ETH transfers)
• No registration is required to receive funds
• Payments to existing Ethereum addresses (including smart-contracts)
• Fees conveniently payable in the token being transferred
• Withdrawals to mainnet in ~10 minutes*

More information available at zkSync docs

Which ERC20 tokens have been deposited the most (in $ volume) in the last 60 days

NOTE

• To answer this question, we use the information in the [ez_token_transfers table]. For transactions related to depositing UST into zkSync, the SYMBOL, AMOUNT AND AMOUNT_USD fields are equal to Null, so we do not use UST and Luna deposits into zkSync in our calculations. There are 143 transactions related to UST deposit into zkSync in the last 60 days, which can be extracted with the following command and view the type of asset deposited in etherscan.

  • Select * FROM ethereum.core.ez_token_transfers WHERE ORIGIN_TO_ADDRESS='0xabea9132b05a70803a4e85094fd0e1800777fbef' AND ORIGIN_FUNCTION_SIGNATURE='0xe17376b5' AND SYMBOL IS NULL AND AMOUNT IS NULL AND AMOUNT_USD IS NULL AND BLOCK_TIMESTAMP::DATE > CURRENT_DATE-60

• For transactions related to depositing CHIMP, icETH, and yvsteCRV into zkSync, the TOKEN_PRICE andAMOUNT_USD fields are equal to Null, so we do not use CHIMP icETH and yvsteCRV deposits into zkSync in our calculations. There are 49 transactions related to CHIMP, icETH, and yvsteCRV deposits into zkSync in the last 60 days, which can be extracted with the following command and view the type of asset deposited in etherscan.
  • Select * FROM ethereum.core.ez_token_transfers WHERE ORIGIN_TO_ADDRESS='0xabea9132b05a70803a4e85094fd0e1800777fbef' AND ORIGIN_FUNCTION_SIGNATURE='0xe17376b5'AND Token_price IS NULL AND AMOUNT_USD IS NULL AND BLOCK_TIMESTAMP::DATE > CURRENT_DATE-60
• We searched the [fact_hourly_token_prices] table to find CHIMP, icETH and yvsteCRV tokens and there was no record for these tokens

Which ERC20 tokens have been deposited the most (in total count) in the last 60 days

Conclusion

• On May 11 and 12, the largest volume of deposits (in $) was made into zkSync.

• In recent months, Bitcoin has experienced a sharp decline, which has led to severe sales pressure that has forced users to sell their assets and convert them into stablecoins(USDC, USDT, DAI).

• As can be seen, the Stablecoins USDT, USDC, and DAI contain a large volume of deposits(about 74%).

• The interesting thing about the volume of deposits into zkSync is the very large volume of USDC compared to USDT. This could be due to negative news around Tether about the non-transparency of collateral for the USDT.

• In the charts related to the number of deposits into zkSync in the last 60 days, after USDC is related to LDO, the reason for this high number of deposits for LDO can be related to the de-peg of stETH.