Phala Network launches Op-Succinct rollup on Ethereum through a partnership with Succinct Labs and Conduit.

Singapore, Singapore, December 19th, 2024, ChainwireSuccinct alliance establishes Mantle Network as highest-TVL ZK validity rollupMantle 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 InnovationWith 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