1. Project Overview

PolyHedra is an infrastructure project focused on Web3 interoperability, dedicated to providing decentralized, efficient, and secure solutions for asset, data, and identity interoperability between different blockchain networks through Zero-Knowledge Proof (ZKP) technology. Its core goal is to break the "island effect" between blockchains and promote connectivity within the Web3 ecosystem.

2. Technical Highlights: Full-Stack Application of Zero-Knowledge Proofs

The core technology of PolyHedra is the Zero-Knowledge Proof (ZKP) system, which is innovative in the following aspects:

• zkBridge: This is one of PolyHedra's core products, enabling trustless cross-chain operations between Layer 1 and Layer 2 through the deVirgo distributed proof system. It supports asset transfers, messaging, and data sharing, connecting over 25 blockchain networks, verifying 40 million proofs, and facilitating up to 20 million cross-chain transfers.
• ZK-NFT: A programmable NFT protocol that supports dynamic assets and data containers, achieving maximum interoperability. It is supported by Zero-Knowledge Proofs with stealth address models to protect the privacy of related assets.
• ZK-DID: A verifiable credential system that combines advanced Zero-Knowledge Proofs to provide secure and scalable decentralized identities for Web2 and Web3 scenarios.
• PolyHedra has also launched zkLightClient for the LayerZero cross-chain protocol, providing a secure and efficient cross-chain infrastructure for Layer 1 and Layer 2 interoperability.

3. Application Scenarios: A Bridge Connecting Web2 and Web3

The technology of PolyHedra is not only applicable within blockchains but also deeply integrated with Web2 systems, achieving cross-platform data and asset interoperability. For example:

• Bitcoin Interoperability: By collaborating with EigenLayer and Babylon, PolyHedra has launched the largest interoperable Bitcoin ecosystem supported by zkBridge.
• DAO/DAC Systems: Through Decentralized Autonomous Organizations (DAO) and Decentralized Autonomous Companies (DAC), PolyHedra opens new design spaces for Web3.
• NFT and DeFi: ZK-NFT and ZK-DID provide privacy protection and identity verification for NFT and DeFi projects, promoting the financialization and decentralization of Web3.

4. Financing and Valuation: Endorsement from Top Institutions

Since its establishment, PolyHedra has completed multiple rounds of financing, raising over $75 million in total, with the latest round being $20 million led by top institutions such as Polychain Capital, Binance Labs, OKX Ventures, and HashKey Capital.

• February 2023: Completed $10 million strategic financing.
• April 2023: Completed $15 million Pre-A round financing.
• January 2024: Completed A round financing.
• March 2024: Completed $20 million financing, with a valuation of $45 million.

5. Market Performance and Data

As of March 2024, PolyHedra's trading volume is 3.1%, with a market capitalization of $74,978,530.661, ranking 392nd in circulating market cap. Its total supply is 1 billion ZKJ tokens, with 32% allocated for ecosystem incentives, 28% for early investors and backers, 15% for community markets and airdrops, 15% for the foundation, and 10% for core contributors.

6. Future Outlook: Building the "TCP/IP" of Web3

PolyHedra's vision is to become the "TCP/IP" of Web3, constructing a secure, efficient, and decentralized interoperability protocol stack that connects all Web3 applications and Web2 systems. Its future development directions include:

• Expanding Cross-Chain Protocols: Continue to optimize zkBridge to support interoperability with more blockchain networks.
• AI and Blockchain Integration: Introduce AI technologies in the Layer 1 public chain EXPchain testnet, such as augmented proof systems, zkPyTorch integration, and smart proofs (PoI), promoting deep integration of AI and blockchain.
• Ecosystem Development: Promote the privacy and decentralization of NFTs and DeFi through products like ZK-NFT and ZK-DID.

7. Conclusion

PolyHedra is a Web3 interoperability infrastructure based on Zero-Knowledge Proofs, providing decentralized, efficient, and secure solutions for asset, data, and identity interoperability between different blockchain networks through its innovative technologies like zkBridge, ZK-NFT, and ZK-DID. Its strong technical background, endorsement from top institutions, and rapid market performance make it an important player in the Web3 space that cannot be overlooked.