1. Introduction

Welcome to the Ryze Up program brought to you by Ryze Labs. Ryze Labs serves as a bridge connecting the East and the West, aiming to accelerate the development of Web3 in emerging markets and influence the global Web3 world. With a focus on Local Insights and Global Impact, let's embark on this journey together. Time to Ryze Up.

Ryze Labs has successfully invested in high-growth potential projects such as Polygon, Sui, Solana, LayerZero, and Wintermute.

Host of this episode: Joven, the Business Development Director of Ryze Labs, who is dedicated to expanding the fund's influence in the global developer community and providing strategic guidance to the fund's portfolio companies.

Special guest: Neel, Founder of Eclipse. Eclipse is an execution environment for SVM on Ethereum Layer2, dedicated to becoming a widely used general Layer2 on Ethereum.

2. Integrating Solana's High Performance and Ethereum's Security

Before founding Eclipse, Neel had been working in the traditional finance sector. In the early stages of entering the crypto field, Neel was involved in development within the Cosmos ecosystem. Later, he became interested in Roll-Ups, believing that Roll-Ups have lower operating costs and less token inflation compared to Layer1. Thus, he began building the Layer2 project and founded Eclipse in September 2022.

Eclipse is a Layer2 on Ethereum, with the differentiating factor being the use of Solana Virtual Machine (SVM) as the execution environment. Therefore, it possesses the high performance of Solana and, due to settlement on Ethereum, also the security of Ethereum.

From a user's perspective, Eclipse's experience is very similar to Solana. It has short block generation times, low latency, high throughput, and the chain is not too congested. From a technical standpoint, as a Roll-Up, Eclipse, like other Layer2 solutions, ensures the correctness of the chain's execution through proofs, rather than using committees or a large number of validators to vote and sign for each state change, as in Layer1.

In terms of proof type, it uses Fraud proof of Optimistic Rollup. However, unlike Optimism and Arbitrum, it does not use interactive fraud proofs, but instead uses RISC Zero for ZK fraud proofs to prove fraud when it occurs. For data availability (DA), due to the expensive transaction fees on Ethereum, Celestia was chosen as the DA layer.

3. Challenges in Implementing RaaS (Rollup as a Service)

The Eclipse team once attempted to build RaaS (Rollup as a Service) but later found it difficult to implement. When comparing RaaS with SaaS, it is easy to see that for RaaS to achieve the profitability of SaaS and become a billion-dollar company, it would require approximately $100 million in ARR. To achieve this goal, about 1000 Rollups would need to be operated, charging each client $100,000 annually, and a very large Rollup cluster would be necessary for this to make sense.

However, if this were to happen, it would mean significant decentralization among all these Rollups, which would greatly disadvantage the user experience. For example, with over 30 Rollups in operation, users would be confused about where to place their funds, constantly switching networks on their wallets, resulting in a very unfriendly user experience. Therefore, the Eclipse team ultimately decided to continue as a Layer2 solution.

Neel believes that this is in line with Solana's characteristics, as Solana is also a single chain. In summary, from the perspective of the SaaS value model, the priority of the RaaS model is not high. Furthermore, the use of RaaS by each chain would lead to significant liquidity fragmentation caused by the multitude of Layer2 solutions, so most RaaS solutions may need to transition.

4. Eclipse's Ability to Attract Ethereum Community Members Compared to Solana

On Solana, if we subtract about 4000 transactions related to Solana's consensus, there are approximately 500 real transactions per second. Currently, due to the very low transaction fees on Solana, it is being targeted by a large amount of spam attacks.

It can be observed that there are many bots active on the Solana chain, and while some are legitimate order book market-making bots, there are still many other bots generating valueless spam transactions. To address this issue, compared to Solana's engineering mindset, Neel believes that Ethereum excels in economics and more theoretical computer science. Therefore, Eclipse hopes to bring Ethereum's theoretical and conceptual approach to addressing the spam transactions caused by Solana's low fees.

Additionally, once Eclipse is launched, many DeFi projects are also very suitable for migration to Eclipse, such as Helium, React Network, and others, although the current focus remains on DeFi and NFTs.

The core advantage of Eclipse lies in its low migration difficulty. If it were to build a new SVM Layer1, it would be very difficult for members of the Ethereum core community to migrate. However, for Ethereum's Layer2, the degree of migration for users is much lower.

5. Eclipse's Business Model and Deployment Difficulty

Tokens of other Layer2 solutions typically only have governance functions, which Neel does not fully endorse. Even if they were to be used, it would be the Foundation behind Eclipse Labs that would issue the corresponding governance tokens.

Eclipse's chosen business model is to profit from sequencer revenue. Referring to Arbitrum's income, their revenue has already exceeded eight figures, surpassing $100 million annually. Therefore, theoretically, this is a very reasonable way for Eclipse to generate cash flow.

In terms of project deployment difficulty for Eclipse, if smart contracts have already been written for Solana, they can be deployed to Eclipse almost immediately. However, if only EVM contracts have been written, they would need to be rewritten in Rust. The specific deployment difficulty and time cost depend on the complexity of the project. Additionally, Eclipse has partnered with Neon, which allows EVM contracts to be converted into SVM contracts and deployed to Eclipse.

6. Interaction of Eclipse with Celestia and RISC Zero

Regarding the execution of Rollup, multiple transactions are typically batched and then released to Layer1. This is the operating method of Optimism and Arbitrum, and Eclipse follows the same approach.

However, due to the relatively small throughput supported by the current ETH bandwidth (approximately 0.75 MB per block), Eclipse chooses to release to Celestia (with a limit of 2MB per block). Eclipse uses some interfaces provided by Celestia, running a Celestia client in Eclipse, and then uses it to release to Celestia.

In terms of interaction with RISC Zero, RISC Zero is only called in the event of fraud/error. The principle behind this is that RISC Zero generates zero-knowledge proofs for the erroneous parts of transactions, demonstrating how they should be correctly executed. These proofs are then released to Ethereum, where Ethereum will interpret and verify that fraud has indeed occurred.

7. Conclusion

Currently, there are 15 different Dapps deployed on Eclipse, many of which come from the Solana ecosystem, including consumer or game incubation projects, as well as NFT Marketplaces and Launch Pads.

The current Chief Business Officer of the project is Vijay, who was previously the Business Director at dydx and also has extensive business experience at Unit Swap.

Looking ahead, Eclipse will launch the mainnet for developers early next year, which will be open to developers for a few weeks. If all goes well, once the first batch of applications have deployed their front-end and smart contracts, Eclipse will be open to the public.

Finally, interested users are warmly welcomed to follow Eclipse on Twitter for the latest official updates.

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