ZEC can now be minted as an ERC-20 token

Btw I made a proposal to add ZEC to the lending and borrowing protocol C.R.E.A.M.: https://forum.cream.finance/t/proposal-to-add-zcash-renzec-on-the-ethereum-money-market/46

Would be awesome to get ZEC added there, as it would enable more permissionless, KYC free economic activities with ZEC in the Ethereum DeFi ecosystem. And you’d be able to earn yield on ZEC that otherwise might sit idle in your wallet.

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(I’ll keep posting cool news related to ZEC on Ethereum, hope you folks don’t mind!)

A few days ago renZEC got listed on Matcha, which is an Ethereum exchange by the 0x project. Which means more liquidity to trade ZEC outside centralized exchanges!


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Can we earn interest on our ZEC via Celsius?

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damnit! not allowed in NY :frowning:

Latest data on renZEC liquidity on Ethereum:

The growth over time can be seen here:

Would be awesome if we could follow Bitcoin’s footsteps:

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Hey everyone, we recently put up a proposal to create a renZEC/wZEC Curve pool: https://gov.curve.fi/t/scip-14-renzec-wzec-pool/1123

For those who don’t know what Curve is, it is a stableswap exchange, so low-slippage trading for things like DAI/USDT/USDC within one pool, or renBTC/wBTC in another, and now we are proposing a ZEC pool.

wZEC is by Wrapped.com and we think fits better those who are comfortable with a regulated custodian managing the assets under custody. While Ren is transitioning into a decentralized custodian with the expanding MPC network.

If passed (and please vote if you can!), you’d be able to earn better yields for ZEC on Ethereum and have more liquidity there thanks to the Curve pool. And we are working on getting ZEC listed in lending protocols and stuff like that so the utility for ZEC on Ethereum increases!

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Hey everyone, the vote for the renZEC/wZEC pool for Curve passed, with 100% in favor! :tada:

The proposal: https://gov.curve.fi/t/scip-14-renzec-wzec-pool/1123
The vote: https://signal.curve.fi/#/curve/proposal/QmVvFTCcdzywN4ntHjpRWTMzZ35dmTqttyp5RTGTPGgT41

This means you’ll be able to yield farm with your ZEC without the risks related to impermanent loss as you would get in something like a ZEC/ETH pool on Uniswap, because renZEC and wZEC are stable to each other so the relative weights of these assets in the pool aren’t an issue in terms of USD value.

I’ll update when the pool is live and ready to go.

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Terrific! Well done.

xDAI Honeyswap now has a renZEC/xDAI farm open: https://hny.farm/farms

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High fees are diametrically opposed to the main goal of Ethereum - to be a convenient and cheap transport of tokens, in other words, so that Ethereum can be what it should be, it should not cost much. In this regard, ETH 2.0 will be a salvation not only in terms of increasing bandwidth, but also in terms of starting a trend of reducing its cost. POW adds a prime cost of the coin, POS does not have it at all.

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In the long run, these trends will lead to the fact that bitcoin miners will no longer receive Commission fees and will lose the incentive to support the network. And this contradicts Satoshi’s idea that with reducing the reward for the extracted block, miners will compensated in the form of commissions for a large number of transactions in their own bitcoin network. To be honest, I see this inevitable process as a turning point and a prerequisite for Zcash to start taking the transaction mass from bitcoin, and also began to overtake bitcoin in increasing the hashrate. At least Zcash’s miners will be fed if Zcash will not be wrapped.

For those interested in earning some yield on their ZEC bags on Ethereum, a new opportunity just came! Bancor, which is an AMM exchange, has whitelisted renZEC for their new liquidity pools which offer impermanent loss protection, meaning you can keep single-sided exposure to ZEC whilst earning trading fees from other traders. Some info can be found here:

Also, the ZEC liquidity on Ethereum is growing by the day, we’re soon up on 6k ZEC which is cool!:

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A little update :calendar: :

Liquidity of Zcash on Ethereum is growing by the month, most of which is available at Uniswap currently:

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Also in general the supply of Zcash on Ethereum through Ren is going up, making it more likely that we can integrate Zcash on lending and other DeFi applications:


zcash-080121

We are working hard on getting Zcash integrated in more places in the DeFi ecosystem, and prioritizing protocols and communities we think make the most sense to start of with, but if you folks have any suggestions on where to promote a Zcash integration, it would be very helpful to hear from you.

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How can we get Defi use shielded Zcash?

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The privacy properties of Zcash are on the Zcash chain. When you mint ZEC on Ethereum in reality they get locked on the Zcash chain, and are represented on Ethereum as regular ERC-20 tokens which don’t have privacy by default (but privacy protocols on Ethereum can be used to add some privacy back, although there doesn’t exist any widely used yet).

But you can still maintain your privacy because you can deposit shielded ZEC to RenVM, use the renZEC on a fresh Ethereum address, use within DeFi, and then redeem ZEC from RenVM, and bring it back to a shielded address.

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What’s the status of WZEC/renZEC curve pool? I think this will be important before ZEC can be widely used as collateral in defi.

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It’s coming, we’re also pushing for integrations on lending platforms!

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Thanks for your active contributions! I agree that lending platforms would be the best first use case for ZEC on Defi. I understand that both RenZEC and WZEC receives a lot of votes in the Maker green-light poll but it looks like it won’t be on-boarded as DAI collateral anytime soon. Is there any way for Zcashers to help push the Maker team?

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The MakerDAO domain teams prioritize based on a host of factors, one of the major ones being liquidity I believe. So while both renZEC and wZEC are greenlighted on MakerDAO, both don’t have the enormous amounts of liquidity some stablecoins have for instance. So the best way to put ZEC on their radar is to increase the liquidity and volume (and other integrations). We have some good integrations coming up for ZEC soon so that will help in that regard.

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