SOON, Supported by Leading Influencers, Targets 650k TPS on Ethereum with Solana Foundation

The Solana Optimistic Network (SOON) has successfully completed a co-builder funding round with the participation of key industry figures, according to a statement released on August 27 and reported by CryptoSlate. Among the prominent contributors were Solana leaders Lily Liu and Anatoly Yakovenko, Coinbase Ventures’ Principal Jonathan King, and Celestia Labs co-founder Mustafa Al-Bassam. The funding round also saw involvement from Amrit Kumar, co-founder of AltLayer, Prabal Banerjee, co-founder of Avail, and Robinson Burkey, co-founder of Wormhole Foundation.

The primary focus of the funding will be on advancing the development of the SOON Stack, which aims to establish an efficient and high-performance rollup for Layer 1 settlements. This technology will leverage the Solana Virtual Machine (SVM) as the execution layer. The funds raised will further support SOON’s flagship products, including SOON Stack and SOON Mainnet. SOON Stack is a modular framework that combines SVM and OP Stack to facilitate the deployment of SVM Layer 2 on various Layer 1 blockchains such as Ethereum, Bitcoin, and Cosmos.

SOON Mainnet, on the other hand, is a versatile SVM Layer 2 solution designed to settle on the Ethereum blockchain through the utilization of SOON Stack. Once operational, SOON aims to significantly enhance Ethereum’s transaction capacity by processing up to 650,000 transactions per second (TPS) using the SVM. Additionally, SOON intends to integrate a data availability layer to improve interoperability with CelestiaDA, EigenDA, and Avail.

The successful funding round is expected to position SOON as the leading throughput rollup stack with minimal fees, offering scalability and efficiency for decentralized applications (dApps) across various Layer 1 blockchains. Joanna Zeng, CEO of SOON, highlighted the platform’s goal to merge Solana’s robust SVM engine with Layer 1 user bases. She emphasized that this strategy could establish SVM as the standard for all Layer 1 ecosystems, attracting developers to the platform.

Zeng further stated that with SOON, they aim to be the most efficient rollup solution, reducing costs and boosting performance by 100 times in every ecosystem compared to the highest-performing EVM, while fostering a culture that embraces non-Solana blue chips.