Brevis Announces $7.5M Seed Round to Shape the Future of Verifiable Computing (11 Nov)

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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