In a significant development for blockchain interoperability, SOON has successfully raised $22 million through its “COMMing SOON” NFT sale, setting the stage for its innovative Layer 2 mainnet launch. The project is turning heads in the crypto space by bringing together two blockchain giants: Ethereum’s robust network with Solana’s lightning-fast transaction capabilities.
At the heart of SOON’s technology is a clever implementation of Solana’s Virtual Machine (SVM) as its execution layer. Think of it as taking Solana’s sports car engine and dropping it into Ethereum’s tank – you get the security and stability of Ethereum with Solana’s speed. The result? A blazing-fast block time of 50 milliseconds that leaves traditional Ethereum transaction speeds in the dust.
What sets SOON apart from other Layer 2 solutions is its decoupled SVM architecture. Rather than simply tweaking Solana’s existing framework, SOON has rebuilt from the ground up, separating execution and settlement processes. The numbers speak for themselves – the testnet has already locked in over 11,000 ETH and processed more than $102 million in transactions in just two months.
The funding round, led by Hack VC, has attracted heavyweight investors including ABCDE and Hypersphere. Perhaps more tellingly, the project has earned endorsements from blockchain royalty, with Solana Labs Co-Founder Anatoly Yakovenko and Solana Foundation President Lily Liu throwing their weight behind it.
SOON isn’t stopping at Ethereum integration. The team is already working on expanding their reach with svmBNB and Cytonic, aiming to create a more interconnected blockchain ecosystem. In a move that shows their commitment to decentralization, they’re putting their money where their mouth is – 51% of $SOON tokens are earmarked for community members.
This community-first approach could be crucial for driving adoption across various blockchain applications, from AI to DeFi. As the project moves toward mainnet launch, the successful NFT sale suggests strong market confidence in SOON’s vision of a more efficient, interconnected blockchain future.
For those keeping score in the Layer 2 race, SOON’s unique approach to combining Ethereum’s security with Solana’s speed could be a game-changer. The real test will come with the mainnet launch, but with $22 million in fresh funding and strong industry backing, SOON has positioned itself as a serious contender in the evolving blockchain landscape.
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