New investment: INTMAX

Cryptomeria Capital
3 min readApr 17, 2023


We have invested in INTMAX alongside notable investors such as HashKey Capital, Bitscale Capital, B Dash Ventures, SNZ, Antalpha Ventures, Scroll, Mask Network, and other angels.

We are very grateful for the support of everyone at Cryptomeria Capital. They are as close and supportive as if they are a part of the INTMAX team. We have a big challenge ahead, but with people who believe in us and support us, we will continue to challenge ourselves to the best of our ability.

— Mai Fujimoto, Co-founder of INTMAX

About Intmax

INTMAX is positioned as a new type of zk-Rollup that can work as a zk-Rollup without extra historical data, and as a pre-consensus mechanism for ZKP and OR. Or as a protocol that reduces computational costs by 95% compared to other zkRollups. Moreover, INTMAX offers technology such as ZkRollup without transaction history data, This algorithm removes almost all the data stored on-chain from zk-Rollup, heavily decreasing the cost of the transaction, while preserving the security.

The protocol offers a different structure for the Merkle tree. Normally, pairs of transaction hashes converge to one another, but for each individual tranche, Intmax deploys all the others from the root.

Intmax has a completely different way of organizing: the aggregators only know the root of the user’s asset store and the tx hash. Client-side ZKP aggregates multiple transactions into a single transaction, even in cases where recipients have many addresses, saving block space and making transactions even cheaper. The pre-consent mechanism can increase the finality interval to help accumulate the address list over a longer period.

On top of that, Intmax enables ZkRollup technology with extremely low call data cost (and even free gas), allowing multiple ERC20/NFT types to be transferred to multiple different recipients in a single transaction. The combination of client-side ZKP and limited online provisioning results in almost zero gas cost in exchange for a client-side latency of 3–40 seconds. Cost optimization is achieved at the cost of gas per call (calldata). One transaction accommodates unlimited ERC20/NFT for many recipients with the same call data/zkp cost on the aggregator side. Instead, the client-side zkp calculation latency takes longer.

Every user has its own asset store and its own Merkle root. The sender clears part of the asset tree and the recipient receives the part of the partial tree meant for it. These assets are merged upon the transfer.

For 1000 packets per second, 1 recursive proof = 60 blocks = 480 KB. This can be avoided by splitting the transaction calldata-post or by waiting for proto-danksharding to expand it to 3000 or more. This architecture supports the transmission of at least 10,000 tokens per second for a single network with ZKP 2022 technologies.

Test results are showing high and stable performance with the Apple M1:

This indicates that aggregating 32 * 100 tokens takes 120 seconds of computation time on a single Apple M1 processor without optimization or parallelization. Parallelization and hardware acceleration can further reduce this time.

Lastly, INTMAX proposes to create checkpoints to shorten the Optimistic Rollup 7-day verification period to a final interval of a few hours or an arbitrary time of our choosing. In the context of zk-Rollup, it can reduce the cost of verification gas by keeping the batch interval and lengthening the finality period.

Cryptomeria Capital is a crypto fund backed by blockchain industry experts. The focus is exclusively on ventures, tokens, and projects related to blockchain technology and crypto assets. The firm also has a corporate partnership with Axon Partners Group, an international consulting and investment firm that has backed over 50 companies and trades on the BME Growth Market under the ticker “APG”.

Follow Cryptomeria Capital on:






Cryptomeria Capital

Passionate about the future of decentralized technology, we are investing in early stage projects