INTMAX Raises $5M Seed Round to Build a Stateless zkRollup
zkRollups are the next big thing, and INTMAX is creating an extremely scalable zkRollup as a vital component of new Ethereum-based infrastructure.
Ryodan Systems AG (Headquartered in Switzerland; CEO Leona Hioki), the company behind the zkRollup project INTMAX, is pleased to announce that it has completed a $5M seed round.
zkRollups are attracting great attention as a Layer2 scaling solution for Ethereum, which leverages zero-knowledge proofs. INTMAX’s stateless zkRollup is able to combine extremely high scalability with customizable privacy, which ordinary zkRollups cannot offer.
Currently, Ethereum Layer1 is limited to a maximum of 100,000 users per day, and the high cost of gas fee has resulted in a skewed user base. We believe that solving this problem and giving all users “programmable property rights” is necessary for the future of Ethereum.
Whereas in the past, blockchains often had compromised decentralization in order to gain scalability, recent events impacting security and governance have made the value of decentralization apparent, as users and developers now recognize Layer2 solutions’ ability to scale while still maintaining decentralization.
INTMAX is capable of scaling to 1 billion users in a single day, providing the highest performance among the various scalable Layer2 technologies currently being developed. We will continue to devote ourselves to the development of INTMAX in order to make it the world’s universal financial infrastructure.
About the Investors (in no particular order):
- HashKey Capital
- Bitscale Capital
- B Dash Ventures
- SNZ
- Antalpha Ventures
- Scroll
- Mask Network
- Dora Hacks
- East Ventures
- MZ Web3 Fund
- Tané
- SGverse Pte. Ltd.
- Hyperithm
- Stacker Ventures
- Cryptomeria Capital
- WAGMI Ventures
- Zephyrus Capital
- Pragma Ventures
- TRGC
- Alchemy Ventures
- Big Candle Capital
- BreakOrbit Ventures
- HG Ventures
- Meteorite Labs
Also, prominent angel investors support INTMAX’s vision and have also participated in this round, including:
- Justin Drake – Ethereum Foundation researcher.
- Scott Moore – Founder of Gitcoin.
- Balaji Srinivasan – Former CTO of Coinbase and a well-known angel investor.
- Anthony Sassano – Founder, The Daily Gwei.
Investors comments
Justin Drake – Ethereum Foundation Researcher –
“There is a promising and under-explored design space combining rollup and plasma ideas. INTMAX differentiates itself as the only team I know exploring such rollup-plasma hybrids.”
Scott Moore – Gitcoin Founder –
“Beyond expanding the frontier of possible scaling solutions, I’m excited to see projects like INTMAX increasing the geographic diversity of the L2 ecosystem. Working to bring Ethereum to the next billion users is a positive-sum game.”
Harper Li -HashKey Capital –
INTMAX‘s L2 solution for providing scaling and privacy services achieves innovation in technology. Its core features are almost 0 gas cost on zkRollup through the components of Preconsensus mechanism, state delta, zkRollup with limited online assumption and Liveness/Safety Separation.
Anthony Sassano – Founder, The Daily Gwei
There’s a lot of innovation currently happening in the Ethereum layer 2 space but nothing quite like what INTMAX is building with their rollup-plasma hybrid. I’m excited to see what INTMAX’s solution will look like once it’s fully built out and has people building novel applications on top.
Ryodan Systems CEO, Leona Hioki comments
We are very happy to see that there are so many people who have a deep understanding of Ethereum Layer2 and stateless cryptography and are willing to take on the challenge with us in the midst of so much uncertainty in a difficult global economic environment.
INTMAX Roadmap
2023 Q2: Alpha version on Ethereum mainnet.
2023 Q4: INTMAX mainnet launch. Any validators/miners can participate in the network.
About Ryodan Systems AG
Ryodan Systems AG is a Swiss-based company which develops INTMAX, a stateless zkRollup combining extremely high scalability with customizable privacy that no other rollup can offer. Ryodan Systems AG received a grant from the Ethereum Foundation in 2022, and it was named one of Crypto Valley’s Top 50 Best Performing Blockchain Projects in 2023.
Twitter: https://twitter.com/intmaxIO
Github: https://github.com/InternetMaximalism
Website: https://intmax.io/
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About The Author
Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.
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Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.
