- SOON raises $5M to democratize access to blockchain technology.
- Backed by Jump and Amber, SOON targets fast, low-fee trading.
- Amber Group to embed AI tools in SOON’s copy-trading system.
Solana Optimistic Network (SOON), a blockchain project built on Solana’s Virtual Machine, has secured $5 million in new funding. The investment is by Jump Crypto, Amber Group, and a number of angel investors. This investment is aimed at bringing more high-tech blockchain instruments closer to ordinary users.
SOON Uses Solana VM for Fast, Low-Fee Transactions
In the past, SOON sold $22 million worth of NFTs before its mainnet launch. This most recent investment round is a sign of increasing faith in the project. Through this backing, SOON is setting out to introduce institutional-grade trading instruments to general users worldwide.
Some of the angel investors are crypto-renowned names. These are Nana Murugesan of zkSync, Mark Hull of Kamino Finance, Chris Hermida of Switchboard, and Tori Cohen of Wormhole. Their involvement is an indication of great confidence in the SOON mission and potential.
Moreover, SOON is an Ethereum Layer 2, which is based on the Solana Virtual Machine (SVM). This novel design enables SOON to achieve high-speed and low-fee transactions as well as advanced trading functionalities. Following this, it is likely to contribute to the enhancement of the general blockchain experience of numerous users.
Among the most important innovations is the decoupled SVM stack of SOON. This implies that SOON isolates execution and core network, a factor that enhances speed and efficiency. As Saurabh Sharma, the Head of Investments at Jump Crypto, noted, this arrangement will assist in introducing improved performance in areas where it is most required by the users. He said he was excited to be able to assist in SOON vision and development.
Additionally, another huge investor, Amber Group, celebrated the high-performance structure and socially friendly design of SOON. Amber Group is particularly attracted to how SOON integrates artificial intelligence and trading. The company considers that such tools can open up new tactics and offer an opportunity to access real-life assets to numerous users.
Amber Backs SOON to Empower Next-Gen On-Chain Traders
Amber Group plans to integrate its AI models into SOON’s copy-trading platform. The step will enable users to track and replicate the transactions of professional investors. More to the point, it will provide individuals with access to AI-based smart trading tools, even when they are rather inexperienced.
Jerry Zhou, the Asset Management Director at Amber Group, stated that SOON is contributing to defining the future of on-chain trading. He added that the work of SOON resonates with a new generation of users who desire tools that are easy and powerful. Further, he mentioned that Amber Group is happy to extend its institutional-level support to this developing project.
Meanwhile, SOON remains true to its mission statement: providing blockchain and trading tools to the masses. SOON aims to cover more users around the world by integrating rapid technology, skilled partners, and convenient platforms.
To sum up, this 5 million dollar investment is a significant milestone in SOON. It not only comes with financial reinforcement but also valuable partnerships and expertise. As it evolves further, SOON will introduce high-tech access to blockchain to millions of individuals worldwide.
The post Solana-Based SOON Raises $5M to Expand Blockchain Access appeared first on Live Bitcoin News.