Understanding Brevis in One Article: $7.5 Million Financing, Support from Renowned Institutions, the Next Value Discovery Opportunity in the ZK Track?

1 Overview: The New Star of Blockchain Co-Processors Driven by zk-SNARKs

Brevis, as a zk-SNARKs-based coprocessor, is becoming a key innovator in the blockchain infrastructure sector, addressing the long-standing computational bottleneck issues in blockchain through its groundbreaking verifiable computing capabilities. The project successfully completed a $7.5 million seed round of financing in November 2024, co-led by Polychain Capital, with participation from institutions such as IOSG Ventures, Nomad Capital, and Bankless Ventures, demonstrating strong institutional confidence in its technological path.

Brevis's core value proposition lies in enabling smart contracts to access and utilize complete historical on-chain data across multiple blockchains in a trustless manner, securely offloading complex computational tasks for execution off-chain, and only sending verified proofs back to the blockchain. This technical architecture not only significantly increases transaction throughput—supporting thousands of operations per second, a magnitude improvement compared to Ethereum's 15-30 TPS—but also markedly reduces the execution costs of smart contracts.

By October 2025, Brevis has demonstrated impressive ecological growth metrics: over 37.5 million zk-SNARKs created, 52,420 API requests processed, and 69,153 unique addresses participating in its network. Notably, more than 23 mainstream dApps have integrated Brevis infrastructure, including well-known projects like PancakeSwap, Kernel, Kwenta, Mellow, Euler, and Bedrock, indicating that its solutions have gained market validation and generated real utility.

2 Fundamental Analysis of the Ecosystem

2.1 Key Indicators and Growth Drivers

The Brevis ecosystem has achieved rapid growth in a short period, with key metrics indicating that the project has moved beyond the proof-of-concept stage and entered the phase of large-scale application:

Network Activity Data: The generation of over 37.5 million zk-SNARKs and 52,420 API requests indicates that the protocol has been widely applied in real business scenarios, rather than just staying in the testing phase. These proofs cover multiple application scenarios, from user behavior analysis to cross-chain asset verification, demonstrating the diversity and practicality of the technology.

User Adoption: The usage scale of 69,153 unique addresses has laid the foundation for network effects. As an infrastructure project, although the user base is not as large as that of consumer-grade dApps, this number is already quite considerable for protocols aimed at professional developers, and the quality of users is relatively high.

Ecosystem Cooperation Scope: The 23+ integrated dApps include leading projects from various fields, such as PancakeSwap (the largest DEX on BNB Chain) and Kernel (a cross-chain re-staking protocol). These collaborations not only validate the technical feasibility but also bring actual revenue streams and continuous exposure to Brevis.

On-chain Influence: Brevis has achieved full deployment on the BNB Chain, allowing dApps on the chain to access historical data and run complex computations without worrying about explosive growth in Gas fees. This integration is strategically significant as the BNB Chain has a large user base and a rich application ecosystem.

2.2 Technical Positioning and Competitive Landscape

The technical architecture of Brevis is built around two core products, creating its differentiated advantage in the ZK track:

Pico zkVM: High-Performance zk-SNARKs Virtual Machine

Brevis's self-developed Pico zkVM, as a general-purpose zk-SNARKs virtual machine, significantly outperforms competitors in terms of performance. According to third-party testing data, the Pico zkVM is 70-155% faster than competitors like RISC0 and SP1 on CPU, making it the fastest zk-SNARKs virtual machine on a single GPU. This performance advantage is crucial in practical applications, as it directly affects the proof generation speed and cost, thereby determining the protocol's usability and economy.

ZK Data Co-Processor: Full-Chain Data Access Engine

Brevis's ZK data co-processor is specifically designed for scenarios in Web3 that require handling large amounts of historical data, cross-chain data, and complex business logic. It has covered five major mainstream Blockchains including Ethereum, BNB Chain, and Base, enabling cross-chain unified statistics of user assets, transactions, and engagement. This cross-chain capability holds immense value in the increasingly multi-chain blockchain ecosystem.

coChain Innovative Architecture

Brevis is developing coChain, which introduces a proposal-challenge model that integrates ZK verification, optimistic computation, and economic reduction through a hybrid execution layer. This architectural innovation addresses the high generation cost issues of traditional zk-SNARKs systems, making it particularly suitable for complex scenarios that require proof of non-existence.

In terms of competitive landscape, Brevis faces competition from projects such as Axiom, RISC0's Steel, and Vlayer. However, Brevis's key advantage lies in the fact that its technology has reached production readiness, while most competitors are still in the development phase. Additionally, Brevis's chain-agnostic design enables it to serve a multi-chain ecosystem rather than being tied to a specific Blockchain, which expands its potential market space.

Compared to ZK projects that focus on specific verticals, Brevis's general-purpose co-processor positioning allows it to serve a wider range of application scenarios, from DeFi optimization to AI verifiable computing. This diversity reduces the risk of relying on a single application domain.

2.3 Token Economic Model Analysis

Although Brevis has not yet released detailed tokenomics, we can speculate on its possible design framework based on its technical characteristics and financing structure:

Financing Background and Valuation Reference

Brevis has completed a $7.5 million seed round of financing, and this round of financing was conducted in the form of token financing. This financing scale is within a reasonable range for ZK infrastructure projects, providing ample financial support for project development while avoiding valuation bubbles caused by excessive financing.

Potential Token Features

Based on Brevis's technical architecture and business requirements, its token may have the following functions:

• Network Usage Rights: dApp may need to hold or pay tokens to access Brevis's zk-SNARKs generation service.
• Prover Incentives: ZK proof generators may participate in the network by staking tokens and receive rewards.
• Governance Mechanism: Token holders may participate in key decisions such as protocol upgrades and fee parameter adjustments.
• coChain Security Assurance: In the coChain architecture, tokens may serve as collateral to ensure the secure operation of the proposal-challenge mechanism.

Value Accumulation Mechanism

The value accumulation of Brevis tokens may be achieved through the following methods:

• Protocol Revenue Sharing: Some proof generation fees may be allocated to token stakers.
• Usage-driven Demand: As more dApps integrate Brevis, the demand for tokens is expected to grow in sync with network usage.
• Deflation Mechanism: May introduce transaction fee burn or proof generation consumption to offset potential inflationary pressure.

Potential Risk Points

• Utility Uncertainty: The final token economic model may not effectively drive demand, especially if network usage grows slowly.
• Regulatory Considerations: The privacy-enhancing features of ZK technology may attract regulatory attention, affecting token distribution and circulation.
• Unlocking Pressure The unlocking of tokens for the team and investors may create phased selling pressure on the secondary market.

3 Technical Analysis and Development Forecast

3.1 Current Market Conditions and Valuation Reference

As a technology-driven infrastructure project, the valuation of Brevis needs to be comprehensively analyzed in conjunction with its development stage, market potential, and competitive environment.

ZK Track Popularity: zk-SNARKs, as a key scaling and privacy solution in Blockchain, are attracting significant capital investment. The fully diluted valuation of similar tech projects (FDV) typically ranges from hundreds of millions to several billion dollars, depending on the technological barriers, team background, and market potential.

Financing Valuation Benchmark: Brevis's $7.5 million seed round financing provides a reference point for initial valuation. Considering the participation of top venture capitalists and the high popularity of the ZK track, the project may have reached a considerable valuation level during financing, setting a benchmark for subsequent rounds.

Market Trend Favorable: The blockchain infrastructure sector is experiencing a shift from general computing to specialized zk-SNARKs processing in 2025, and Brevis's ZK co-processor is well-timed for this transition. As DEX trading volumes surpass CEX during certain periods, the demand for high-performance blockchain infrastructure continues to rise.

Integration Progress: The comprehensive deployment of Brevis on the BNB Chain and its deep integration with leading projects such as PancakeSwap and Kernel have provided it with a significant first-mover advantage. These partnerships are not only a validation of technology but also a guarantee of future revenue sources.

3.2 Price Prediction and Target Range

Based on the technological potential, market positioning, and risk factors of Brevis, this article presents the following scenario analysis of its token performance after listing:

Bull Market Scenario (Probability 25%)

• Conditions: Mainnet performance exceeds expectations; successful expansion to 10+ mainstream Blockchains; deep cooperation with 5-8 top DeFi/AI protocols; ZK-SNARKs proof costs reduced by over 80%; the cryptocurrency market as a whole enters a bull market cycle.
• Price target: Mid-term increase of 100-200%
• Driving Logic: The project establishes its position as a standard setter in the ZK co-processor field, with network usage experiencing exponential growth, revenue from fees significantly exceeding expectations, and the market granting it a premium as the “ZK computing layer” leader.

Baseline Scenario (Probability 50%)

• Conditions: Steadily advance technology development according to the roadmap; successfully integrate 5-8 Blockchains; achieve moderate dApp adoption without explosive growth; maintain stable development in the zk-SNARKs track.
• Price target: Mid-term increase of 30-70%
• Driving Logic: Technological execution is robust but faces competitive pressure, network adoption is steadily growing but has not exceeded expectations, and the market assigns it a reasonable valuation as an innovator in its niche.

Bear Market Scenario (25% Probability)

• Conditions: Delays in technology integration; competitors launching better solutions; regulatory restrictions on zk-SNARKs technology; flaws in the design of the token economic model; the cryptocurrency market overall entering a bear market.
• Price target: Short-term pullback 20-50%
• Driving Logic: Technical execution risks are manifesting, network adoption is growing slowly, and the market is concerned about the project's long-term viability and the ability to accumulate token value.

4 Opportunities and Risks Summary

4.1 Bullish Catalysts

· ZK technology adoption acceleration: zk-SNARKs are rapidly transitioning from theoretical concepts to production-level applications. As the cost of proof generation decreases and developer tools mature, Brevis's core technological advantages will translate into market leadership. Its performance advantage on Pico zkVM (70-155% faster than competitors) constitutes a significant technological barrier.

· Multi-chain ecosystem expansion: The continuous fragmentation of the blockchain ecosystem—such as the coexistence of Ethereum L2, Solana, BNB Chain, and other multi-chain systems—has strengthened the demand for efficient cross-chain communication infrastructure. Brevis's chain-agnostic design and its capability to cover 5 major mainstream Blockchains enable it to capture the overall value of the multi-chain ecosystem, rather than being limited to the growth of a single chain.

· Deep integration of leading dApps: More than 23 mainstream dApps have integrated Brevis infrastructure, including top projects across various fields such as PancakeSwap and Kernel. In particular, PancakeSwap utilizes Brevis to implement personalized trading fees and LP rewards based on real trading history, demonstrating the practical value of Brevis in enhancing existing dApp functionalities.

· Verifiable AI and other emerging use cases: Brevis's “SpaZK Verifiable AI” product is under development, which will enable the reasoning and decision-making of AI models to be mathematically proven in the future. This capability has revolutionary significance for industries such as finance and healthcare that require strict auditing, opening up the potential of the traditional enterprise market.

· Strong capital endorsement: The $7.5 million financing led jointly by Binance Labs and Polychain Capital not only provides funding support but also brings top-tier industry resources and strategic guidance, significantly increasing the project's probability of success.

4.2 Risk Factors

· Technical execution risk: The ZK proof system involves complex cryptographic implementations and circuit optimizations, and any design flaws or performance bottlenecks could affect the deployment of the mainnet and market adoption. In particular, the proposed challenge model of coChain, while innovative, has not yet undergone large-scale practical verification, which presents potential unforeseen attack vectors.

· Market competition intensifies: The ZK track is attracting a large number of top teams and capital investments, with specialized competitors such as Axiom and RISC0's Steel, as well as the risk of large Blockchain platforms integrating similar functionalities into their core protocols. Brevis needs to continuously innovate to maintain its technological leadership.

· Evolution risk of smart contracts: If mainstream Blockchain natively integrates stronger data access and computing capabilities, it may partially weaken the middleware value of Brevis. Although the possibility of complete replacement is low, technological evolution may change the competitive landscape.

· Regulatory Uncertainty: While the privacy-enhancing features of ZK technology have advantages, they may also raise concerns for regulatory agencies regarding auditing and compliance, especially in the fields of anti-money laundering and financial regulation. Global policy changes regarding cryptocurrency regulation may affect the pace of project development.

· Systemic market risk: As a native crypto project, the price of Brevis tokens is highly correlated with the overall cryptocurrency market, and external factors such as changes in macro policies or shifts in institutional capital flows may overshadow the project-specific fundamentals.

· Cost of proof and scalability: Although Brevis's Pico zkVM is ahead of competitors in performance, the computational intensity and cost of proof generation remain significant barriers to widespread adoption. If the cost of proof cannot continue to decrease, it may limit its adoption in small and medium-sized dApps.

5 Conclusion

Brevis, with its innovative ZK co-processor architecture and validated market adoption, holds a forward-looking position in the crucial infrastructure area of Blockchain verifiable computing. Strong financing performance and rapidly growing ecological indicators provide solid support for the project's technical execution and business development. However, investors must be acutely aware of the multiple challenges faced by the project - the execution risks brought by the complexity of ZK technology, increasingly fierce market competition, regulatory uncertainty, and systemic volatility in the entire crypto market. For risk-tolerant, technology-oriented investors, Brevis represents a high-potential investment opportunity at the intersection of ZK and Blockchain infrastructure, and a phased accumulation strategy is recommended, closely monitoring the technical performance metrics and early adoption data post-mainnet launch. For conservative investors, it is advisable to wait for clearer signs of production environment validation and network effect formation before considering participation. In an era where Blockchain infrastructure is becoming increasingly specialized, Brevis is undoubtedly a project worth close attention, but its long-term value realization still requires rigorous technical validation and market adoption testing.