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Zecrey: Institutional Report

4 min readResearch

Zecrey: Institutional Report

Zecrey: Abbreviated Introduction

Zecrey protocol is a wallet that allows for multi-chain asset management. Zecrey’s vision is to bring scalability, cross-chain, privacy, and assets aggregation to multi-chain networks, as well as convenience for current Web3 users, and become an entrance for Web2 users. 

Zecrey Protocol is a Layer 2 protocol based on the zk-Rollup design. It aims to deliver privacy and scalability. Its system has two central components: 

  • Zero: Lightweight Privacy Layer and a Portable Private Payment Solution. 
  • Legend: The first zkRollup solution on BNB Chain and NFT Engine of Web3 Games. 

The project is open-source and based on solid academic research: it derives from the work developed on Bulletproofs and the Sigma Protocol. 

The market for crypto wallets is expected to grow at a CAGR of 24.2% in 2022-2026. Furthermore, leading companies in the blockchain industry are developing bridges to connect different ledgers and enhance the expansion of Ethereum and other ecosystems. 

Zecrey Labs already has a Minimum Viable Product (MVP), a wallet which can be downloaded as an extension for Chrome browser. The company will release additional web and mobile versions. In January 2022, Zecrey started integrating Chainlink price feeds. 

The core group of developers working at Zecrey Labs is globally distributed, with engineers based in Asia, the United Kingdom, and the USA.  

Zecrey Protocol has not issued any tokens yet. However, it plans to mint two utility coins: REY and LEG. The project has not disclosed details about the token functions in the ecosystem, however, they will be used for paying gas fees and governance procedures such as voting.  

The company raised $4 million in March 2022 in an Angel funding round led by Spartan Group and Shima Capital. Zecrey Labs has a strategic partnership with BNB Chain, a deal worth $6 million. Zecrey’s team will develop zkBNB, the zero-knowledge solution to BNB Chain. 

Zecrey Labs is present in Social Media with a large Twitter followership and a vibrant community of early supporters on Telegram and Discord. 

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