zkTrue-up, a customized ZK Rollup developed by the Term Structure Protocol, is implemented to achieve data availability and allow users to place and cancel orders without gas fees. In the event of censorship or other issues, users can initiate Forced Withdrawal through the zkTrue-up contract to directly withdraw their funds. If the withdrawal request remains unfulfilled, users can then activate the Evacuation Mode on the L1 contract as a protective measure for their assets. In his talk during the "ZK Roast-up: Unleash the Power of ZK Rollups" side event during 2023 Taipei Blockchain Week, Mr. Aaron Liang highlighted the unique features of this innovative scaling solution. #Security #Web3 #Crypto #FinTech #DeFi

1. zkTrue-up
A Customized ZK Rollup Application
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Presented by Aaron @ Term Structure

2. Objectives for Fixed Income
Primary Auction Secondary Orderbook Zero Gas Fee
Order Privacy Instant Match @#!!!$#@
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3. 3
Mission Um…possible(?)
Fixed-Income
DeFi
Secure
Non-Custodial
Permissionless Order Privacy
Zero Gas Fee
Instant Match
?

4. ZK-Rollup Model
Smart
Contract
ZK Circuit
On-Chain
Verification
Off-Chain
Computation
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5. Verifiable Computation with ZK Proof
ZK Proof
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Signature
Verification
Logic
Computation
Required
Assertion
State
Transition

6. 6
Why Customized ZKP Engine?
Low gas fee
about 0.1 USD/per tx
Cost
Liquidity
Ecosystem
(Market Size)
Other ZK-Layer 2
Ultra-low gas fee
about 0.005 USD/per tx
Zero gas fee
0 USD/per tx
(only financial transaction cost)
zksync Era - 0.5B StarkNet - 137M Ethereum - 28.1B
EraLend - 0.7M
(on zkSync Era)
zkLend - 5M
(on StarkNet)
AAVE - 6.2B
Compound - 2.3B
Customized ZK-Layer 3 ZK-TrueUp
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7. Advantages of ZkTrue-up
Order Privacy Instant Match Customized Fee
Collect Intention
& Publish Later
Off-Chain
Calculation
Intention-Based
Order Placement
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Next Question: Are users’ assets secure?

8. Key Takeaway
● Many things you can’t achieve through smart contracts
may be possible with ZK circuit.
● ZK circuit is the extension of smart contracts which can be
calculated off-chain and verified on-chain.
● With ZK, you can have better user experience without
sacrificing security.
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9. Future of ZkTrue-up
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Constraint-based Proving System (circom)
VM-based Proving System (PIL+zkASM)
Hyperchain-based ZK Ecosystem

10. 10
Thank you
Making DeFi Complete
Website

11. Appendix

12. 12

13. ● Evacuation mode
○ A user has the ability to independently restore the account tree by tracing
on-chain calldata, regardless of the protocol's operational status.
○ After the account tree is restored, users can withdraw their assets from
Layer 1.
○ Recovered amount = Available amount + Locked amount of unsettled
orders
● Settlement data
○ The settled transactions including the matched orders in auction and
order book can be checked again with on-chain calldata
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Data Availability