Source: Matter Labs
Gemholic, an ecological project that raised 921 ETH in an IDO on layer-2 protocol zkSync, faced issues withdrawing its Ethereum due to an incompatibility with the transfer function, resulting in more than 900 ETH getting stuck in a smart contract.
The protocol’s team offered to help Gemholic recover its $1.7 million worth of Ethereum, assuring that the funds were safe. zkSync is not EVM equivalent, which caused the incompatibility.
The smart contracts were deployed on zkSync without being tested first. zkSync warned about the Solidity transfer function in 2019.
The team identified an elegant solution to solve broader gas-related problems, which will require minimal changes in the protocol’s gas metering, but will allow for full recovery of the funds.
Since its late-March launch, zkSync Era has risen to the fourth-highest TVL and third-highest usage of all layer twos, with a TVL of $149 million, according to L2beat. Arbitrum One still leads the pack with a market share of 66% and TVL of $6 billion.
James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.
