FAQ

Q.What does it mean to ‘approve’?

A. Each protocol function runs on the smart contract. In order for the smart contract to access users’ tokens in their wallets, it needs validation from the users authorizing the access. To ‘approve’ in this context means for users to allow the smart contract to have access to their wallets. Note that this is a one-time requirement for each function or token type.

For instance, if you make the initial request to swap USDT into DAI, you are required to conduct the ‘Approve’ transaction, allowing the zkSwap contract to access USDT. After the initial one-time approval, no further authorization is needed for future swaps.

Q. What happens if the current token price leaves the price range I’ve set when adding liquidity?

A. In this case, your liquidity would not be used for the swaps. Therefore, you cannot receive the swap fees and reward generated during the out-of-scope period. To get the swap fee and rewards, you need to remove the LP position, re-set the price range to include the current price, and add liquidity again.

Q. Will the swap fee automatically be re-deposited?

A. Typical to the characteristics of concentrated liquidity pools, swap fees are not automatically re-deposited; they are handled and managed separately. Therefore, you can check how much swap fee yields you have generated for each LP position and choose to claim it.

Q. Are you a fork of Uniswap V3?

A. No. zkSwap is a fork of Kyberswap.