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SOON Closes Funding Round for Solana-Based Layer 2 with Backing from Industry Leaders
Summary: Solana Optimistic Network (SOON) has successfully closed a funding round to support its Solana-based layer-2 scaling solution, according to an announcement on August 27. This unique "co-builder" round only sought investments from individuals, not venture firms, and attracted prominent backers from the industry, including executives from Solana Labs, Solana Foundation, Coinbase Ventures, Celestia, and Avail. ...
Solana Optimistic Network (SOON) has successfully closed a funding round to support its Solana-based layer-2 scaling solution, according to an announcement on August 27. This unique "co-builder" round only sought investments from individuals, not venture firms, and attracted prominent backers from the industry, including executives from Solana Labs, Solana Foundation, Coinbase Ventures, Celestia, and Avail.
SOON's layer-2 solution aims to enhance efficiency and performance by utilizing the Solana Virtual Machine (SVM) as the execution layer, with the flexibility to settle on any layer-1 blockchain. The funds raised in this round will be used to develop SOON's core products, including SOON Stack—a modular framework combining SVM and OP Stack—and SOON Mainnet, an SVM-based layer 2 deployed on Ethereum.
SOON plans to integrate with various data availability layers such as CelestiaDA, EigenDA, and Avail, addressing one of the key challenges in the blockchain space: the cost of securely storing and accessing transaction data. Although the total amount raised in this funding round was not disclosed, the investment marks a significant step forward in advancing layer-2 solutions for the broader blockchain ecosystem.
Tags: L2,Layer 2,Solana
Link: SOON Closes Funding Round for Solana-Based Layer 2 with Backing from Industry Leaders [Copy]
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