INTMAX Secures $5 Million in Seed Funding for Stateless zkRollup Development

zkRollups are gaining momentum, and INTMAX is designing a highly scalable zkRollup that will play a crucial role in the new architecture based on Ethereum.

Ryodan Systems AG, based in Switzerland and led by CEO Leona Hioki, has proudly announced the successful completion of its $5 million seed funding round for the INTMAX zkRollup initiative.

zkRollups are quickly capturing interest as a Layer 2 scalability solution for Ethereum, utilizing zero-knowledge proofs. What sets INTMAX apart is its stateless zkRollup, which merges exceptional scalability with customizable privacy features, something typical zkRollups fail to provide.

Presently, the Ethereum Layer 1 can only support around 100,000 daily users, and the soaring gas fees have distorted the user demographics. We deem it essential to address this issue and offer every user a sense of 'programmable property rights' for Ethereum's trajectory.

Historically, many blockchains have sacrificed decentralization for the sake of scalability; however, recent challenges in security and governance have highlighted the significance of decentralization, leading both users and developers to appreciate the scalability offered by Layer 2 solutions that also uphold decentralization.

INTMAX has the potential to scale up to 1 billion users in just one day, boasting unmatched performance compared to other scalable Layer 2 technologies under development. Our commitment to advancing INTMAX ensures its evolution into the globally recognized financial backbone.

Overview of Investors (in no specific 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

Additionally, a number of notable angel investors back INTMAX's vision and have also taken part in this funding round, including:

• Justin Drake – Researcher at the Ethereum Foundation.
• Scott Moore – Founder of Gitcoin.
• Balaji Srinivasan – Former CTO of Coinbase and a prominent angel investor.
• Anthony Sassano – Founder of The Daily Gwei.

Investors comments

Justin Drake – Researcher, Ethereum Foundation –

“I see a fascinating and largely uncharted area where rollup and plasma concepts intersect. INTMAX stands out as the only project I'm aware of that’s exploring these hybrid rollup-plasma solutions.”

Scott Moore – Gitcoin Founder –

“Beyond pushing the boundaries of what's possible in terms of scaling solutions, it's thrilling to witness initiatives like INTMAX enhancing the geographic diversity within the Layer 2 ecosystem. Striving to extend Ethereum’s reach to the next billion users is a mutually beneficial endeavor.”

Harper Li  -HashKey Capital –

INTMAX's Layer 2 solution for scalability and privacy is pioneering in the tech landscape. Its key attributes feature nearly nonexistent gas fees on zkRollup, attributed to elements like the Preconsensus mechanism, state delta, zkRollup supported under limited online scenarios, and the separation of Liveness and Safety.

Anthony Sassano – Founder of The Daily Gwei

The current wave of innovation in the Ethereum Layer 2 realm is impressive, but what INTMAX is developing with their rollup-plasma hybrid is truly unique. I am keen to see how INTMAX's solution evolves and what novel applications will emerge on top of it once fully developed.

Remarks from Leona Hioki, CEO of Ryodan Systems

We are thrilled to observe such a strong interest from individuals who possess a profound understanding of Ethereum Layer 2 and stateless cryptography, willing to tackle these challenges alongside us, especially during such an uncertain phase in the global economy.

INTMAX  Roadmap

2023 Q2: Alpha version on Ethereum mainnet.

Fourth Quarter of 2023: Launch of INTMAX mainnet. All validators and miners will have the opportunity to get involved in the network.

About Ryodan Systems AG

Ryodan Systems AG, a company situated in Switzerland, is behind INTMAX, a stateless zkRollup that merges astonishing scalability with customized privacy options that no other rollup can provide. The firm was fortunate to receive a grant from the Ethereum Foundation in 2022 and has earned a spot among 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/