Suterusu Receives Strategic Investment from Fundamental Labs

We announce that Suterusu, the world’s first layer-2 privacy protection protocol that does not require trusted setup, has received strategic investment from Fundamental Labs. Fundamental Labs will help expand Suterusu’s ecosystem and deploy Suterusu’s layer-2 private payment network on more public blockchains.

Fundamental Labs, one of the world’s leading investment institutions in the blockchain sphere, focus on investing and incubating blockchain infrastructure projects that can reshape society and economy on a global scale. Until now, it has managed close to 1 billion USD fund, and its investments include Coinbase、Conflux、Polkadot、Vechain、Near、Mask Network、Dora Factory、Nervos、Blockstack、Filecoin、Chainlink、Avalanche、PlatON、Canaan Inc., Math Wallet and many other top projects.

Suterusu is a layer-2 protocol with original zk-Consark technology, that does not require a trusted setup, and its core technical paper has been accepted by Eurocrypt 2021, one of the top cryptology conferences. Suterusu’s second-layer protocol has been audited by Peckshield and can be deployed on almost any blockchain that supports smart contracts. It has already been deployed on Binance Smart Chain (BSC) and Ethereum. Within two weeks of the official launch of Suter Shield BSC, the total transaction volume has exceeded 140 million USD, and the number of transactions has exceeded 9,000. The annualized TRY has exceeded 2,000%. It also supports a social liquid mining program on Pancakeswap, and currently this program has over 3,000 independent active users. In the future, we will commit to expanding our ecosystem to even more public blockchains and application scenarios. We will become the most popular and convenient way for the users to perform their daily financial transfer.