Mantle Network Advances Technical Roadmap As The First ZK Validity Rollup with Succinct’s SP1

As a seasoned observer of the blockchain landscape, I’ve seen numerous projects come and go, but Mantle Network’s strategic move to adopt Succinct’s SP1 is nothing short of groundbreaking. This partnership promises to redefine scalability and security for high-value transactions on Ethereum.

Singapore, Singapore, December 19th, 2024, Chainwire

Succinct alliance establishes Mantle Network as highest-TVL ZK validity rollup

Mantle Network, a well-recognized Ethereum layer 2 platform, renowned for its modular design and early adoption of EigenLayer’s EigenDA, has just revealed plans to transition its architecture towards a zero-knowledge (ZK) validity rollup, thanks to an innovative partnership with Succinct. By integrating its modular structure, data availability solutions through EigenDA, and now zero-knowledge proofs via SP1, Mantle Network is embarking on the development of a liquidity chain for high-end settlement and value transfer within the cryptocurrency environment.

Starting from the launch on July 7, 2023, Mantle Network’s mainnet has rapidly expanded into a leading Layer-2 solution with over $2.2 billion in Total Value Locked (TVL). It has handled 175 million transactions, deployed 1.4 million smart contracts, linked to 10 million unique wallet addresses, and sustained 4.9 million monthly active wallets since its creation. Mantle Network remains committed to enhancing capital efficiency within the on-chain economy by incorporating Zero-Knowledge validity rollup technology. This technology serves as essential next-generation infrastructure for securely scaling high-value asset transfers. With a treasury boasting one of the largest community ownership globally, holding $4.3 billion in assets, Mantle Network’s technical strategy is aligned with its vision of streamlining the seamless, secure, and efficient flow of institutional capital across traditional and decentralized markets.

Accelerating Institutional-Grade Asset Settlements Through ZK Validity Innovation

In Q1 2025, Mantle Network plans to launch its testnet with a goal of transitioning to a ZK validity rollup using Succinct’s SP1. This architectural shift significantly cuts down finality time from seven days to just one hour, facilitating rapid and robust institutional-level asset transfers that cater to capital efficiency demands across traditional finance and the blockchain sector.

The impressive efficiency improvements in Zero-Knowledge (ZK) validity proofs have attracted substantial attention from the market, with a combined capital investment of $4.4 billion in leading ZK L2 platforms like Mantle Network. Mantle Network remains optimistic about the progress of ZK technology and its potential to boost the wider Ethereum ecosystem. The performance enhancements may facilitate the expansion of Mantle’s key assets, such as $mETH, $cmETH, and $FBTC (with a combined Total Value Locked [TVL] of approximately $3.9 billion), across the broader decentralized finance (DeFi) landscape. This could lead to better exchange rate spreads, reduced slippage, deeper liquidity pools, enhanced interest rates, and a wider range of accessible assets. Market intermediaries can swiftly adjust their inventories between Mantle Network (Layer 2) and Ethereum (Layer 1), while users can easily transition without permission to explore unique onward routes and integrations.

Key Technical Benefits

Integrating Succinct’s SP1 strategically provides a collection of cutting-edge tools tailored for both developers and users, featuring sophisticated capabilities.

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

As a crypto investor, I’m thrilled about OP Succinct because it merges the potent SP1 zkVM of Succinct with the adaptable OP Stack, creating a bridge between user-friendly optimistic rollups and intricate zero-knowledge tech. This innovation boosts interoperability, versatility, and standardization to tackle Ethereum’s current hurdles. With ZK validity proofs, Mantle Network transactions are cryptographically authenticated as correctly ordered and settled, providing a higher level of security that makes it easier and safer for us all to venture into advanced frontiers that amplify the Ethereum experience – such as accommodating more complex app logic, facilitating cross-chain actions, decreasing latency, and implementing multi-sequencer architectures.

Joshua Cheong, Mantle’s Product Lead, expressed: “During my time in banking, I observed how conventional banking systems and outdated business models had trouble adapting to FinTech innovators, which were built using cloud services and offered cost benefits. The arrival of programmable blockchains together with stablecoins signals the next logical phase of disruption within financial services – offering enhanced operational efficiency and resilience. The adoption of Succinct’s SP1 by Mantle Network is a significant milestone in our strategic journey with blockchain technology, aimed at providing banking for future generations. By combining zero-knowledge proofs with the flexibility of the OP Stack, we’re not merely improving as a Layer-2 solution – we’re establishing a new standard for Ethereum scalability suitable for institutions, ensuring highly efficient and unmatched security for high-value transactions at a cost of just a few cents, with round-the-clock 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

As an analyst, I am excited about the powerful combination of swift settlement, compatibility with the Ethereum standard, and cost effectiveness. This trifecta has the potential to make a significant impact, minimizing fragmentation and opening up opportunities for cutting-edge decentralized applications (dApps) in the next generation.

Mantle Network has moved towards becoming an Ethereum-compatible Layer 2 solution, strengthening its dedication to the decentralized security structure of Ethereum. This transition allows for a smoother ecosystem, facilitating effortless movement of assets and data. As a native Zero-Knowledge (ZK) rollup, Mantle Network is now better prepared for future developments in L2 technology.

With the continuous growth and changes within the Ethereum community, Mantle Network’s incorporation of Succinct’s SP1 technology establishes it as a frontrunner in both scalability and innovation. Developers, users, and partners alike can anticipate a more rapid, secure, and interconnected Ethereum environment in the 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 constructing the most extensive eco-friendly hub for digital finance, offering its primary solutions – Mantle Network, mETH Protocol, and FBTC. By combining traditional financial knowledge with blockchain’s revolutionary capabilities, Mantle is shaping the financial landscape of tomorrow. The foundation of this endeavor lies in the Mantle Treasury, the largest treasury managed by the community, which guarantees strong liquidity and financial stability. With more than $4.3 billion in assets, it supports core product development and encourages the expansion of asset partners like Agora AUSD, Ethena USDe, Ondo USDY, and EigenLayer restaking, boosting sustainable returns, deep liquidity, and financial functionality within the Mantle Network.

Contact

Mantle
windrangerlabs@wachsman.com

2024-12-19 14:15

Contact

Read More