Matter Labs (zkSync)

Customer profile

Matter Labs is the core team behind zkSync Era ("zkSync"), an Ethereum L2 blockchain powered by zero-knowledge proofs. zkSync has been in production since March 2023, and is currently among the most widely adopted Ethereum L2s.

Based on our latest data, zkSync has over 520k daily active users (distinct sender addresses), and has seen a tremendous 148% growth over the past three months. During the same time period, zkSync has managed to grow its market share in the Blockchains (L2) market sector from 30% to 54% in terms of active users.

Challenge

The Matter Labs team wanted to find a one-stop-shop for their onchain analytics needs – one that could be leveraged also for ecosystem-wide reporting to the wider institutional investor market. Based on these requirements, Token Terminal as an institutional-grade data partner was a great fit.

Solution

Token Terminal Data Partnership.

Results

I) A reliable Data Pipeline and a feature-rich zkSync Data Room (BigQuery)

During the first week of the Data Partnership, the Token Terminal infrastructure team started to run archive nodes for zkSync to retrieve the complete historical data of the chain. Currently, Token Terminal runs multiple nodes for increased redundancy and reliability. With the Data Pipeline running, zkSync's raw, decoded, and standardized data was made available to the Matter Labs team, as well as all Token Terminal Data Room (Google BigQuery) customers.

At Token Terminal, we view the Data Room as our core product, given that it enables and powers all of our downstream data products and analysis.

"Having a dedicated team to maintain the Data Pipeline for zkSync is really valuable, as it affects the trustworthiness and usability of the onchain data. The Token Terminal Data Room allows anyone to access the historical data for zkSync in the most granular format. These data sets enable all kinds of analytics use cases for us and the investor community, be it related to the chain's usage patterns, competitive benchmarking, or accounting. As of today, the Data Room includes comparable data for 16 other chains as well, making it one of the industry's most complete sources of onchain data."

Landon, Matter Labs

II) Standardized financial and alternative data (Terminal PRO & API)

By transforming the raw onchain data set, the Token Terminal research team created standardized financial and alternative metrics for zkSync and, on an ongoing basis, attributes labels for the top 1,000 smart contracts on the chain (Trending contracts dashboard). In order to ensure data completeness and accuracy, the Token Terminal research team constantly updates and maintains the data set. The standardized metrics were published simultaneously to the Terminal Pro web interface, and the Terminal API, which means that the same data can be accessed both in a no-code way and programmatically.

As a result, users with different preferences and technical capabilities can collaborate around the same standardized data sets:

"The fact that it's all standardized makes the data more actionable to us, compared to e.g. community-curated data sets, where the metric methodologies might differ between different protocols. It's also valuable that everyone, including our team, users, investors, and other stakeholders, can access the same data. It's really convenient for us to be able to default to our Token Terminal dashboard when talking about the zkSync core KPIs."

Landon, Matter Labs

III) Distribution of zkSync data and insights to institutional investors

Finally, with the zkSync data sets available across the entire Token Terminal product suite (incl. Bloomberg Terminal), it became time to leverage the data for actionable insights.

Firstly, Token Terminal hosted Alex, the founder and CEO of Matter Labs, on the Fundamentals podcast for a breakdown of the chain's onchain data and the most notable recent developments. Secondly, Michael Nadeau from The DeFi Report, together with Token Terminal's research team, wrote a long-form research report on zkSync, highlighting the activity on the chain in a data-driven manner.

"The Fundamentals podcast received a lot of great feedback by being easily digestible, yet informative. Similarly, the research report was widely distributed to institutional investors who, after having read the report, got in touch with us to learn more about what's to come for zkSync. Token Terminal, as a trusted source for onchain data, was an ideal research distribution partner for us as well."

Alex, Matter Labs

Data Room, Terminal Pro & API: https://twitter.com/tokenterminal/status/1732772271985680637

Fundamentals podcast: https://twitter.com/tokenterminal/status/1720006072092512401

Research report: https://twitter.com/tokenterminal/status/1745540150480805974