Singapore, Singapore, November 11th, 2024,
Chainwire
Brevis has announced the raise of $7.5 million
in seed funding led by Polychain Capital and
Binance Labs, and with participation from
IOSG, Nomad Capital, Bankless Ventures, and HashKey, as well as a number of amazing angel
investors.
Brevis is a smart verifiable computing
platform that brings infinite scalability to existing blockchains
without liquidity or state fragmentation. Brevis enables blockchain
applications to offload complex and expensive computation that was
not possible to do on-chain, to a minimal-cost off-chain network
where a ZK Proof of the computation result is generated. This ZK
Proof can then be verified in on-chain smart contracts so that the
applications are able to utilize the computation result with the
same level of security as direct on-chain computation, all
completely trust-free and at a fraction of the cost!
Brevis launched a ZK Coprocessor as the
first product, which empowers smart contracts to trustlessly access
and run arbitrary computation on historical on-chain data, such as
transactions, events, and states. Using Brevis’s programmable SDK,
developers can easily build powerful data-driven and
computation-intensive dApps without requiring them to understand
the underlying cryptographic and mathematical complexity.
Brevis creates the opportunity for new
use cases and features such as continuous protocol incentive
distribution, user engagement and retention programs, decentralized
blockspace marketplaces, user experience customization, autonomous
DeFi parameter tuning, trust-free active liquidity management,
automatic risk management in yield aggregators, intent automation
and much more.
Brevis also unveils its launch
partners, who are building and launching exciting new products and
features using the Brevis SDK. Some of these partners have already
launched Brevis-powered features on mainnet, such as Kwenta, JoJo Exchange, and Trusta. Many other top protocols and dApps, such as
PancakeSwap, Celer, Usual, Frax, Gamma, Quickswap, Tokemak, Mask Network, Algebra Labs, Thena, 0G,
Bedrock, Mellow Finance, ZettaBlock and Hemera are building
Brevis-powered next-generation product and features.
Brevis has also launched one of the
first EigenLayer AVSes to enable a novel propose-challenge
coprocessing model that drastically reduces ZK computation costs
with a tradeoff of a slightly increased delay.
"Brevis is pioneering a transformative approach to
verifiable off-chain computation, creating unprecedented
scalability and functionality for blockchain applications. At
Polychain, we’re committed to supporting projects that push the
limits of blockchain infrastructure, and Brevis stands out with its
innovative use of ZK Proofs to bring complex, data-driven
computation to smart contracts in a trust-free way," said Olaf
Carlson-Wee from Polychain, "We believe Brevis’s vision will
redefine what's possible for blockchain developers and unlock a new
wave of advanced decentralized applications."
“The current landscape of smart contracts offers very
simple computation capabilities and limited data access. Brevis’
move to create a new asynchronous architecture expands the
capability of blockchains without introducing any additional
trust,” said Andy Chang, Investment Director, Binance Labs.
“Binance Labs champions early-stage projects that are building
innovative solutions to onboard the next wave of users into Web3,
and we are excited to support Brevis’ efforts in revolutionizing
verifiable computing and unlocking a wide array of
possibilities.”
“We believe that Web3 will evolve to a
“glue-and-coprocessor” architecture similar to how modern Web2
services are able to handle billions of users.” said Michael Tung,
cofounder of Brevis, “In the future, blockchains will act as the
“glue” and offload the bulk of computation to Brevis, a platform of
off-chain “coprocessors”. Though the computation happens off-chain,
Brevis’s advanced ZK computing stack ensures that all results can
be trustlessly verified and utilized back on-chain. Without causing
liquidity or state fragmentation, Brevis will enable so many new
dApps and a new level of user experiences that were never possible
before.”
With this new funding, Brevis plans to
expand the research and development team in order to build and
integrate other important off-chain verifiable computing
components, iterate on Brevis’ decentralized prover network and
accelerate adoption of the existing production-ready ZK Data
Coprocessor.
About Brevis
Brevis is an efficient, verifiable
off-chain computation engine that brings limitless computation
capacity to existing smart contract blockchains. Utilizing
zero-knowledge proofs, Brevis offloads data-intensive, costly
computations from on-chain environments to a drastically lower-cost
off-chain engine, and empowers Web3 applications to scale
seamlessly while preserving the security of L1 trust
assumptions.
With Brevis’s versatile Go SDK, smart
contracts can access blockchain states, transactions, and receipts
across multiple blockchains and timeframes. DApps can transform
complex business logic that are expensive to execute with smart
contracts into succinct, low-cost circuit outputs that are
mathematically verifiable on-chain. Powered by Brevis, use cases
like data-driven DeFi, personalized GameFi experiences, and
on-chain reputation systems can unlock the full potential of
decentralized data, and accelerate blockchain adoption on a broader
scale.
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Contact
Marketing Lead
Zoe
Lee
pr@brevis.network