Meta already has Zstd (Zstandard) compression while this week they announced the release of OpenZL as a new open-source, format-aware compression framework.

OpenZL aims to provide high compression ratios while maintaining high speed. High compression and high performance typically don't go hand-in-hand for generic compressors while OpenZL is format-aware in trying to leverage the best of both worlds using a specialized compressor depending upon the format.

OpenZL focuses on lossless compression for structured data and the performance of format-specific compressors