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Mantle Network Advances Technical Roadmap As the First ZK Validity Rollup With Succinct’s SP1

December 19, 2024 – Singapore, Singapore Succinct alliance establishes Mantle Network as highest TVL (total value locked) ZK (zero-knowledge) validity rollup. Mantle Network – an Ethereum layer-two known for its modular design and being the first adopter of EigenLayer’s EigenDA – today announced its architectural transition to a ZK validity rollup through an industry-first alliance with Succinct . Combining its modular architecture, data availability solutions through EigenDA and now ZKP (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 five layer-two by 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 TradFi (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 layer-two 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 DeFi (decentralized finance) 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-two – and Ethereum – layer-one – 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 including the following. 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 one 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 ZK 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 [ZKPs] with the proven versatility of the OP Stack, we’re not just evolving as a layer-two 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 DApps (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 DApps. The transition enhances Mantle Network’s commitment to Ethereum’s decentralized security model as an ETH-aligned layer-two, enabling a more cohesive ecosystem with seamless asset and information flows. Mantle Network is now poised to be a future-ready layer-two 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 ZKPs 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 | 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 | Devs X | Discord | Telegram | YouTube | Blog | GitHub Contact Mantle This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility. Follow Us on Twitter Facebook Telegram Check out the Latest Industry Announcements The post Mantle Network Advances Technical Roadmap As the First ZK Validity Rollup With Succinct’s SP1 appeared first on The Daily Hodl . Finbold

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WhiteBIT’s Institutional Focus Drives Trading Volume to Record $2.7 Trillion in 2024

Vilnius, Lithuania, December 20th, 2024, Chainwire Europe’s leading cryptocurrency exchange, WhiteBIT , concludes the year with notable achievements. The latest estimates reveal the company’s capitalization has reached $38.9 billion, while the annual trading volume surged to $2.7 trillion — a 200% increase compared to the previous year. These figures encompass all exchange markets (spot and futures), showcasing the company’s rapid growth and the increasing trust of its users. For context, WhiteBIT’s trading volume surpassed major players like Kraken, whose annual trading volume stood at $628 billion. WhiteBIT’s trading volume exceeds the GDP of countries like Italy or Canada and approaches the GDP of France, valued at $3 trillion. According to WhiteBIT Founder and CEO Volodymyr Nosov, this milestone reflects the exchange’s innovative strategies and strategic focus: “Reaching $2.7 trillion is the result of our dedicated teamwork and the trust of our clients. We remain committed to developing cutting-edge technologies tailored to the needs of both retail and institutional traders.” Top 2 in Traffic In the fall of 2024, WhiteBIT secured its position as the second-most visited crypto exchange, with 33 million visits to the platform. This achievement positions it just behind Binance, reflecting the steady interest in WhiteBIT’s services. Key Drivers of Growth One of the primary contributors to WhiteBIT’s record trading volume has been the onboarding of institutional clients . The exchange introduced a market maker program tailored to the requirements of large-scale traders. With low fees and rebates as high as -0.01%, the program provided conditions for high-frequency trading, drawing professional traders to the platform. Institutional loans also became a cornerstone for building trust within the professional community, enabling large-scale transactions. The platform’s technical infrastructure also contributed, with features such as colocation to reduce latency, sub-accounts for strategy diversification, and a robust API supporting its services for institutional clients. The introduction of a new affiliate program contributed by engaging communities of retail traders, supporting user acquisition, and enhancing trading activity, which played a role in WhiteBIT’s strong performance. Currently, the exchange serves over 1,300 institutional clients. Expanding Global Reach Today, over 30 million people worldwide use services and products from the WhiteBIT Group holding. These include the centralized exchange WhiteBIT, the crypto payment solution Whitepay, the decentralized exchange WhiteSwap, the NFT marketplace white.market, and the gaming platform Pocket Rocket. Additionally, WhiteBIT Group encompasses Whitechain, its proprietary blockchain, and WhiteBIT Coin (WBT), which has experienced 349.39% growth over the year. With 600+ trading pairs and more than 300 digital assets, WhiteBIT continues to strengthen its competitive edge in the global market. In a recent interview, CEO Volodymyr Nosov confirmed WhiteBIT’s plans to enter the US market. Commitment to Security WhiteBIT stands out as one of the most secure cryptocurrency exchanges globally. Ranked among top 5 in security by CER.live, it is the first crypto exchange to achieve the highest-level Cryptocurrency Security Standard (CCSS) certification. The platform also holds a Payment Card Industry Data Security Standard (PCI DSS) certification, safeguarding customer payment information, and has been recognized by Hacken for excellence in cybersecurity. WhiteBIT remains committed to continuous growth, solidifying its position in the international market, and expanding its impact on the global crypto ecosystem. About WhiteBIT WhiteBIT is the largest European centralized cryptocurrency exchange founded in Ukraine in 2018, offers over 600 trading pairs, 300 assets, and supports 9 fiat currencies. As part of the WhiteBIT Group holding, the platform serves more than 30 million customers globally. WhiteBIT collaborates with Visa, FACEIT, FC Barcelona, Trabzonspor, the Ukrainian national football team, and lifecell. The company is dedicated to driving the widespread adoption of blockchain technology in Ukraine and worldwide. Contact WhiteBIT PR Service pr@whitebit.com Finbold