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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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Disclaimer

This Report is for informational purposes only and/or all or any of its content thereof, should not, may not, and will not be taken to constitute, either as a whole or in part, any investment advice or recommendation or similar, regulated, or authorized advice, and D-Core by producing, disseminating, giving away, or making available this Report does not, should not, may not and will not be taken to advise on investments, or carry out any similar activity, or any regulated activity or any other authorized activity. D-Core is not authorized by the Financial Conduct Authority or by any other competent EU or elsewhere or otherwise competent authority to carry out any regulated activities and/or any activities within the scope of these authorities’ competence.

D-Core excludes and disclaims all liability and/or responsibility whatsoever and/or howsoever caused, arising out of any actions, or omissions taken, or made by any authorized and/or other recipient of this Report in reliance on, or arising out of, or in connection with any or all content of this Report. Any authorized and/or other recipient of this Report acknowledges, accepts and agrees that they carry out their own independent research and act in their own sole risk in reading or using any or all information contained in this Report. In any event, recipients of this Report are urged to seek professional advice before making any potential investment decision in relation to the project described herein. Any authorized and/or other recipient of this Report accepts this Disclaimer in full. For the avoidance of doubt, this Disclaimer is binding against any recipient of this Report whatsoever.

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