Mantle Network Advances Technical Roadmap As The First ZK Validity Rollup with Succincts SP1
Singapore, Singapore, December 19th, 2024, Chainwire
Succinct alliance establishes Mantle Network as highest-TVL ZK validity rollup
Mantle Network, an Ethereum layer 2 (L2) known for its modular design and being the first adopter of EigenLayers EigenDA, today announced its architectural transition to a zero-knowledge (ZK) validity rollup through an industry-first alliance with Succinct. Combining its modular architecture, data availability solutions through EigenDA, and now zero-knowledge proofs via SP1, Mantle Network embarks on creating the liquidity chain for institutional-grade settlement and value transfer in the crypto ecosystem.
Since Mantle Networks mainnet launch on July 7, 2023, the burgeoning on-chain ecosystem has grown to become a top 5 L2 by total value locked (TVL) with $2.2 billion and counting. The network has processed 175 million on-chain transactions, seen 1.4 million smart contracts deployed, connected to 10 million unique wallet addresses and maintained 4.9 million monthly active wallet addresses since its inception. Mantle Network continues to drive capital efficiency in the on-chain economy with the integration of ZK validity rollup technology, providing crucial next-generation technical infrastructure to support and amplify secure growth of high-value asset settlements. Backed by one of the largest community-owned treasuries globally with $4.3 billion in asset reserves, Mantle Networks technical roadmap directly supports its vision of accelerating seamless, secure and efficient movement of institutional capital across traditional and decentralized markets.
Accelerating Institutional-Grade Asset Settlements Through ZK Validity Innovation
With the testnet launch in Q1 2025 with intention towards mainnet upgrade, Mantle Network is set to evolve from an optimistic rollup model to a ZK validity rollup through Succincts SP1. This architectural change drastically reduces chain finality from seven days to one hour enabling fast institutional-grade asset settlements that support and address capital efficiency opportunities throughout traditional finance and the blockchain industry.
The transformative efficiency gains of ZK validity proofs have garnered significant market traction. Already powering applications with a cumulative $4.4 billion capital across leading ZK L2 ecosystems, Mantle Network maintains a bullish belief in the advancement of ZK technology to further the broader Ethereum ecosystem. Performance benefits can allow Mantles flagship assets, such as $mETH, $cmETH and $FBTC, with an aggregate $3.9 billion TVL, to proliferate across the wider decentralized finance (DeFi) domain. This enables better swap market spreads, lower slippage, deeper money markets, improved interest rates, and broader asset availability. Market intermediaries can rapidly rebalance inventories between Mantle Network (Layer 2) and Ethereum (Layer 1), and users can quickly move permissionlessly to access a unique set of onward routes and integrations.
Key Technical Benefits
The strategic integration of Succincts SP1 offers a suite of advanced features catered to developers and users:
- Fast Finality: Boasting a 168x improvement in bridging capabilities, transactions achieve finality in one hour enabling quick withdrawals and seamless operations to redefine user experience.
- EVM Equivalence: Succincts SP1 full EVM bytecode compatibility ensures developers can leverage existing Ethereum tooling and smart contracts without compromise.
- Cost Efficiency: Prover fees integrated into transaction costs eliminate additional financial burdens for rollup teams with minimal cost impact to users, as low as fractions of a cent per transaction.
- Enabling a Multi-Chain Future: The advancement reaffirms Mantle Networks alignment with Ethereums security ethos while laying the groundwork for cross-rollup interoperability at scale through ZK proofs.
Driving the Future of ZK Rollups
OP Succinct combines the power of Succincts SP1 zkVM with the modularity of the OP Stack, bridging the gap between user-friendly optimistic rollups and complex zero-knowledge technology. The innovation promotes interoperability, flexibility, and standardization that addresses Ethereums existing challenges. By adopting ZK validity proofs, Mantle Network transactions are cryptographically verified to be correctly sequenced and settled. This higher tier of security allows everyone to more easily and safely explore frontier areas that enhance the Ethereum experience such as supporting more advanced application logic, enabling cross-chain actions, improving latency, and adopting multi-sequencer architectures.
Joshua Cheong, Product Lead at Mantle said: In my previous banking career, I witnessed traditional banking infrastructure and legacy banking business models struggle to keep up with the emergence of FinTech disruptors built with cloud services that boast cost advantages. The introduction of programmable blockchains along with stablecoins heralds the next natural step in disruption of financial services being even more operationally efficient and resilient. The integration of Succincts SP1 marks a defining chapter in Mantle Networks strategic blockchain journey to support banking for the next generation. By uniting zero-knowledge proofs with the proven versatility of the OP Stack, were not just evolving as a Layer-2 solution were setting a new benchmark for institutional-grade Ethereum scalability that enables highly efficient and unparalleled security for high-value transactions at the cost of a few cents with 24/7 settlements.
Uma Roy, CEO and Co-Founder at Succinct added: Succincts SP1 empowers any developer to make ZK applications by just writing Rust, accelerating the adoption of ZK and verifiable computation. With OP Succinct, we can propel any OP Stack rollup into the future by providing fast finality with no downsides. By merging SP1s blazing fast performance with Mantles progressive vision, were enabling developers to reimagine decentralized applications with unprecedented speed, efficiency, and reliability. Together, were building the foundation for Ethereums interconnected and scalable future.
A Unified Ethereum Ecosystem
The synergy of fast finality, Ethereum-standard compatibility, and cost efficiency promises a profound impact, reducing fragmentation and unlocking the potential for next-generation decentralized applications (dApps).
The transition enhances Mantle Networks commitment to Ethereums decentralized security model as an ETH-aligned Layer 2, enabling a more cohesive ecosystem with seamless asset and information flows. Mantle Network is now poised to be a future-ready L2 chain as a native ZK rollup.
As the Ethereum landscape evolves, Mantle Networks adoption of Succincts SP1 positions it as a leader in scalability and innovation. Developers, users, and ecosystem partners can look forward to a faster, more secure, and interconnected Ethereum future.
About Succinct
Succinct brings zero-knowledge proofs to any developer with SP1the worlds fastest zkVM. Succincts Decentralized Prover Network provides affordable and reliable proof generation infrastructure for rollups, bridges, coprocessors and other applications using ZKPs. SP1 is used by the most renowned teams in the industry, including Celestia, Avail, Lido, Polygon, AggLayer and many more.
Website | X/Twitter | Discord | Blog | Documentation
About Mantle
Mantle is building the largest sustainable hub for on-chain finance. Through its core products Mantle Network, mETH Protocol, and FBTC Mantle is unlocking the future of finance by blending institutional expertise with the transformative power of blockchain. Anchored by the Mantle Treasury, the largest community-owned treasury in the ecosystem, Mantle ensures robust liquidity and financial stability. With over $4.3 billion in assets, it actively funds core product development and fosters the growth of asset partners, such as Agora AUSD, Ethena USDe, Ondo USDY, and EigenLayer restaking, enhancing sustainable yield, deep liquidity, and financial utility on the Mantle Network.
Website | X/Twitter | Devs X/Twitter | Discord | Telegram | YouTube | Blog | GitHub
ContactMantlewindrangerlabs@wachsman.com
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Text source: Crypto Daily™
