PANews reported on January 22 that according to The Block, Ethereum Layer 2 project SOON (Solana Optimistic Network) raised $22 million through an NFT sale called "COMMing SOON" before the mainnet launch. SOON uses the Solana Virtual Machine (SVM) as the core execution layer, and uses a parallel processing model to improve transaction settlement efficiency, forming a differentiated competitive advantage over the traditional Ethereum Virtual Machine (EVM) sequential processing mode.
The financing was led by Hack VC, with participation from multiple institutions including ABCDE, Hypersphere, and SNZ Capital, and endorsed by well-known figures in the Solana ecosystem. SOON also plans to expand to other blockchains beyond Ethereum through its "decoupled SVM architecture" and allocate 51% of network tokens to the community to promote ecological development. So far, its test bridge has locked more than 11,000 ETH (about 36 million US dollars).
