Ryodan Systems AG, the company behind INTMAX, announced that Intmax had secured $5 million in a seed funding round to build stateless zkRollup! INTMAX is building a highly scalable zkRollup as a vital component of the new Ethereum-based infrastructure.
INTMAX Raises 5 million in Seed Round
In the past few days, Switzerland-based Ryodan Systems AG (the company behind Intmax) announced that Intmax had completed its seed round and raised $5 million in seed funding. Participants in the seed funding round of this project, which attracted the interest of many investors, include 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, and Meteorite Labs, in addition to many individual angel investors.
Stateless zkRollup
The project is working to create a highly scalable zkRollup that could be a vital component of the new Ethereum-based infrastructure. This stateless zkRollup is much more efficient than ordinary zkRollups and can combine high scalability with privacy. Until now, blockchain projects have often sacrificed decentralization to achieve scalability. After the recent events that have affected the entire financial world, we have once again realized how significant decentralization is.
The technology currently being developed by this project is capable of scaling to 1 billion users in a single day, providing the highest performance among various scalable Layer2 technologies.
Comments from Investors
Justin Drake — Ethereum Foundation Researcher, said:
“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, said:
“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.”
About Ryodan Systems AG
Ryodan Systems AG is a Swiss-based company that 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.
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