Quick overview
ZigZag launched in late 2021 on Ethereum’s zkSync and later expanded to Arbitrum. It mixes a non-custodial order book with ZK-rollup scaling to keep gas costs low and wallet custody intact.
What it offers
- Spot trading across ~25 ERC-20 pairs, mainly ETH/USDC, USDC/USDT, ETH/USDT.
- Zero platform fees, no order or cancellation charges - only gas (~$0.05).
- Fully wallet-based; no deposits or withdrawals needed on-platform.
- Bridge between Ethereum and zkSync for easy layer shifts.
- Governance token (ZZ) pays for fees and enables voting.
Liquidity and volume
Aggregators show no real volume data. Pairs often sit with minimal liquidity, so trades larger than a few dollars might move prices. That makes it more an experiment ground than serious venue.
Fees and costs
There are no maker/taker charges. Users just pay ZK-rollup or Arbitrum gas fees, typically ~$0.05. No hidden platform costs, which is appealing for micro-trades.
Security model
Non-custodial by design - you hold private keys, trades happen from your wallet. The backend uses open-source ZK-rollup tech, though there’s no public audit disclosed. Reviews caution about checking official links to avoid copycat scam sites.
Pros and cons
- Pros: Order-book style UX with wallet custody, very low fees, open backend, supports multiple L2s.
- Cons: Tiny liquidity, no margin or advanced orders, no audit trail, fragmented reputation with some external warnings.
Who might use ZigZag
- DeFi natives wanting order-book trading on L2s without deposits.
- Developers or hobbyists exploring open non-custodial models.
Who should skip it
- Traders needing deep liquidity or big executions.
- Anyone requiring formal audits, heavy tools, or trusted brand history.
Verdict
ZigZag combines advanced tech with ultra-low fees and full wallet control, but lacks liquidity, audits, and tool depth. It’s more a sandbox for tiny experiments than a serious exchange. Always start small and double-check contract links.