The Solana Optimistic Network (SOON) recently raised an undisclosed amount in a co-builder funding round, with contributions from key industry figures. The funding will primarily focus on advancing the development of SOON Stack, which aims to create an efficient and high-performance rollup for Layer 1 settlements utilizing the Solana Virtual Machine (SVM) as the execution layer. Notable participants in the funding round include Solana leaders Lily Liu and Anatoly’ Toly’ Yakovenko, as well as Coinbase Ventures’ Principal Jonathan King, and Celestia Labs co-founder Mustafa Al-Bassam.
The funds will support SOON’s flagship products, including SOON Stack and SOON Mainnet. SOON Stack is a modular framework that combines SVM and OP Stack to enable the deployment of SVM Layer 2 on Layer 1 blockchains such as Ethereum, Bitcoin, and Cosmos. SOON Mainnet is a general-purpose SVM Layer 2 solution that settles on the Ethereum blockchain, aiming to increase Ethereum’s transaction capacity by 650,000 transactions per second (TPS) using the SVM. Additionally, SOON plans to integrate a data availability layer, enhancing interoperability with CelestiaDA, EigenDA, and Avail.
SOON aims to position itself as the highest throughput rollup stack with low fees, offering scalability and efficiency for decentralized applications (dApps) across all Layer 1 blockchains. CEO Joanna Zeng stated that the platform will combine Solana’s powerful SVM engine with the user bases of various Layer 1 ecosystems, potentially making SVM the standard for every Layer 1 ecosystem, attracting developers. Zeng envisions SOON as the most efficient rollup, reducing costs and boosting performance by 100 times in every ecosystem compared to the highest-performing Ethereum Virtual Machine (EVM).
In conclusion, the funding received by SOON will drive the development of innovative solutions such as SOON Stack and SOON Mainnet, positioning the platform as a leader in high-throughput rollup technology. With a focus on efficiency, scalability, and interoperability, SOON aims to revolutionize the decentralized application landscape across multiple Layer 1 blockchains. By leveraging Solana’s SVM engine and creating a culture that welcomes developers, SOON is poised to make a significant impact in the blockchain industry and attract new users to the platform.
