Background of the Mystiko Project

Mystiko offers scalable and interoperable privacy solutions for decentralized applications (DApps). Its core technology, zk-of-zk, combines multiple zero-knowledge proofs recursively to provide more efficient privacy protection.

Mystiko functions as a universal ZK layer for Layer 1 and Layer 2 networks, wallets, cross-chain bridges, decentralized exchanges (DEXs), and other DApps. The diagram below illustrates how Mystiko differs from other ZK projects.

Source: Morningstar Ventures

Since March 2023, Mystiko.Network has launched its V1 mainnet across several blockchains, such as Ethereum, BNB Chain, Polygon, Avalanche, and Base. In the past year, these networks have handled over $137 million in transaction volume, processed more than 220,000 transactions, and gained over 55,000 active users. Furthermore, in March 2024, the project successfully raised $18 million in a seed funding round. The investors included Peak XV Partners (formerly Sequoia Capital India/SEA), Samsung Next, Hashkey, Mirana, Signum, Coinlist, Naval Ravikant, Sandeep Nailwal, Gokul Rajaram, Tribe Capital, and Morningstar Ventures.

As of March 2024, Mystiko.Network boasts over 300,000 community members, more than 80,000 active social media followers, over 55,000 active on-chain addresses, and more than 220,000 SDK transactions. In the ecosystem, the Mystiko SDK has seamlessly integrated with all major Web3 projects, including Ethereum, BNB Chain, Polygon, Avalanche, Base, MetaMask, Wallet Connect, Gnosis Safe, LayerZero, Axelar, Celer, and Solana (currently in the process of integrating).

Technical Architecture and Principles

Zero-Knowledge Proof (ZKP) Technology and ZK-Rollup

Mystiko.Network’s core technology revolves around Zero-Knowledge Proof (ZK) and ZK-Rollup. Zero-Knowledge Proof is a cryptographic method that allows one party (the prover) to demonstrate to another party (the verifier) that a statement is true without disclosing any additional information. ZK-Rollup enhances blockchain scalability and efficiency by bundling multiple transactions into a single one.

Notably, Mystiko employs auditable ZK technology to fight illegal and malicious activities. The network can enforce government-sanction blacklists, has created the first decentralized audit system, and has had its smart contracts audited by ABDK Consulting. For more details, please refer to Mystiko Compliance.

zk-of-zk Technology

The core innovation of Mystiko.Network lies in its zk-of-zk technology. This approach recursively combines multiple zero-knowledge proofs to provide more efficient privacy protection while reducing computational and storage costs.

Mystiko.Network SDK

Mystiko.Network offers an easy-to-use software development kit (SDK) that enables developers to seamlessly integrate privacy features into their DApps. The SDK is compatible with various programming languages and blockchain platforms, ensuring excellent scalability.

ICO Details

Mystiko.Network raised funds through an ICO on the CoinList platform, which was conducted in two phases:

• Private Round: Raised $18 million with tokens priced at $0.09. These tokens will be gradually released after a 12-month lock-up period.
• Public Round: Raised $11.25 million with tokens priced at $0.15. 25% of these tokens will unlock after 75 days, with the rest being gradually released over 12 months.

The Mystiko token is anticipated to be listed on exchanges around June 18, 2024.

Token Economics

The Mystiko.Network token (XZK) is central to its ecosystem. The network’s operation depends on ZK-Rollup miners and relayers. To become a ZK-Rollup miner or relayer, one must stake a certain amount of XZK.

The total supply of XZK tokens is 1 billion, allocated as follows:

• Private Round Investors: 20% (200 million tokens)
• Public Round: 7.5% (75 million tokens)
• Ecosystem Development: 16% (160 million tokens)
• Core Contributors and Advisors: 15% (150 million tokens)
• Community Building and Marketing: 10% (100 million tokens)
• Liquidity Rewards: 15.8% (158 million tokens)

Source: CoinList Mystiko

Participating in Airdrops through Interactive Tasks

Mystiko.Network has held several airdrop events in the past. Currently, the project has introduced various loyalty points tasks on Galxe. Users can earn points by completing these tasks, and the project team will distribute airdrops based on these points.

Source: Galxe official website

Interactive tasks are categorized into two types: social media promotion tasks and on-chain deposit tasks. The on-chain deposit tasks are further split into two categories, one for BNB/Polygon/Avalanche/Base chains, and the other for the Ethereum chain. Due to the high gas fees on the Ethereum chain, there were only 657 participants as of the publication of this article.

Conclusion

Mystiko.Network is a rising player in Web3 privacy infrastructure, offering new promise for the future of Web3 privacy with its zk-of-zk technology and robust team. As technology advances and the community grows, this project is poised to become a key part of the Web3 foundation, delivering more secure and trustworthy privacy protection for users.

Mystiko.Network’s future roadmap includes:

• V2: To be released in Q2 2024, this version will support more affordable and higher-privacy cross-chain transactions.
• V3: Scheduled for Q2 2025, this version will enhance DeFi functionality with lower costs and greater privacy.
• ZK Machine Learning SDK: Set for release in Q2 2026.

Source: CoinList Mystiko