Why SOON’s $22M NFT Sale is the Talk of the Blockchain Town! 😲💰

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In a world where fortunes are made and lost with the flick of a digital pen, SOON has triumphantly raised the staggering sum of $22 million through the sale of its “COMMing SOON” NFTs, all in anticipation of its grand mainnet launch. Ah, the sweet scent of cryptocurrency success wafts through the air! 💸

These funds, dear reader, are not merely for frivolous spending on virtual cat pictures; they are earmarked for the ambitious rollout of a Layer 2 mainnet. This marvel of modern technology is designed to enhance the speed and efficiency of Ethereum and its blockchain brethren, as revealed in a note shared with crypto.news. One can only imagine the excitement in the air! 🚀

SOON’s ingenious technology employs Solana’s Virtual Machine as its execution layer. Yes, you heard that right! It takes Solana’s (SOL) transaction processing prowess and applies it to Ethereum (ETH), effectively creating a delightful fusion of two major blockchain ecosystems. It’s like mixing fine wine with… well, more fine wine! 🍷

With a block time of just 50 milliseconds, the mainnet promises to process transactions faster than you can say “blockchain.” In contrast, Ethereum’s slower transaction speeds seem almost medieval. One can almost hear the gasps of disbelief from the Ethereum enthusiasts! ⏱️

SOON’s architecture, in its wisdom, separates execution from settlement—a method known as a decoupled SVM. This innovative approach sets it apart from existing solutions that merely tinker with Solana’s framework rather than redesigning it. So far, over 11,000 ETH have been locked into SOON’s testnet, which has processed a jaw-dropping $102 million in transactions within a mere two months. Talk about a busy little blockchain! 💥

Funding Contributions

Leading the charge in this funding round is Hack VC, with additional contributions from illustrious investors such as ABCDE, Hypersphere, and a host of others. SOON has also attracted the attention of notable figures in the blockchain realm, including Solana Labs Co-Founder Anatoly Yakovenko and Solana Foundation President Lily Liu. It’s a veritable who’s who of the crypto world! 🌟

In a bid to broaden accessibility across various networks, SOON is diligently developing additional blockchain solutions, including svmBNB and Cytonic. These initiatives aim to improve cross-chain interoperability, allowing for seamless communication between blockchains. Because who doesn’t want their blockchains to chat over coffee? ☕

Moreover, the project champions a community-first approach, allocating a generous 51% of its $SOON tokens to community members. This strategy is designed to encourage widespread adoption and foster support for projects leveraging SOON, from artificial intelligence applications to decentralized finance platforms. It’s a blockchain utopia in the making! 🌈

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2025-01-22 17:32