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 EigenLayer’s 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 Network’s 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 Network’s 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
Succinct’s 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 Mantle’s
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 Succinct’s
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: Succinct’s 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 Network’s alignment with Ethereum’s 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
Succinct’s 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
Ethereum’s 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
Succinct’s SP1 marks a defining chapter in Mantle Network’s
strategic blockchain journey to support banking for the next
generation. By uniting zero-knowledge proofs with the proven
versatility of the OP Stack, we’re not just evolving as a Layer-2
solution – we’re 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: “Succinct’s 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 SP1’s blazing fast
performance with Mantle’s progressive vision, we’re enabling
developers to reimagine decentralized applications with
unprecedented speed, efficiency, and reliability. Together, we’re
building the foundation for Ethereum’s 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
Network’s commitment to Ethereum’s 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 Network’s adoption of Succinct’s 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 SP1—the world’s fastest zkVM. Succinct’s
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
Contact
Mantle
windrangerlabs@wachsman.com