Eclipse Layer 2 Successfully Raises $50 Million

The Layer-2 platform developed on Solana, Eclipse, has recently successfully raised $50 million from various prominent investors in the market.

Azcnews Breaking

Eclipse Labs, the developer of Eclipse Layer 2, has recently announced a successful Series A funding round, raising $50 million and bringing the total raised capital to $65 million.

Leading this investment round are Placeholder and Hack VC, with other participating funds including Polychain Capital, Delphi Digital, Maven 11, DBA, Fenbushi Capital, Flow Traders, GSR, Apollo Global Management, and OKX Ventures.

According to the announcement, this new funding is earmarked for the development of Layer 2 solutions for the Ethereum network, utilizing the Solana Virtual Machine (SVM).

With the goal of integrating SVM into Ethereum, Eclipse Labs aims to provide an advanced Layer 2 solution that connects the two largest ecosystems today: Ethereum and Solana. Neel Somani, the founder of Eclipse Labs, shared in a statement:

Eclipse combines high-performance SVM with deep liquidity on Ethereum, while eliminating verification constraints

Ethereum needs a Layer 2 that is interoperable, scalable, and unique, capable of handling up to 99% of use cases

Related: Guide to Claiming 40 OUIX Tokens (Free)

About Eclipse

Eclipse Mainnet is Ethereum’s fastest Layer 2, powered by the Solana Virtual Machine (SVM).

1eclipse Svm Mainnet

Eclipse Mainnet combines the best pieces of the modular stack:

  • Settlement: Ethereum – Eclipse will settle to Ethereum (i.e., the enshrined validating bridge will be on Ethereum) and use ETH as its gas token.
  • Execution: Solana Virtual Machine (SVM) – Eclipse will run the highly performant SVM as its execution environment.
  • Data Availability: Celestia – Eclipse will post its data to Celestia for scalable data availability (DA).
  • Proving: RISC Zero – Eclipse will use RISC Zero for ZK proofs of fraud (without intermediate state serialization!)

It is anticipated that the development team will launch the final mainnet version in the second quarter of this year.



Leave a Reply

Your email address will not be published. Required fields are marked *


Bingx Announces Listing Of Swarm Markets (smt)

Altcoin | Editor Choice

BingX Announces Listing of Swarm Markets (SMT)

BingX exchange announces the listing of Swarm Markets (SMT) - a DeFi platform licensed by the Germany's Federal Financial Supervisory Authority (BaFin).

Azcnews Nigeria Confirm

News | Editor Choice | Policy & Regulations

Central Bank of Nigeria Confirms Not Blocking Crypto Users

The Central Bank of Nigeria (CBN) has officially confirmed reports of their freezing of user accounts on platforms such as Bybit, OKX, Kucoin, and Binance as fraudulent.

Azcnews President Joe Biden Proposes Highest Tax Rate In History

News | Editor Choice | Policy & Regulations

President Joe Biden Proposes Highest Tax Rate in History

US President Joe Biden has just proposed increasing capital gains tax to 44.6%, marking the highest federal capital tax rate ever.

Bitcoin Dip 64500

News | Bitcoin | Editor Choice

Bitcoin Dips to $64,500, Yet Scarcity Remains High

Despite Bitcoin dipping slightly to $64,500 currently, most experts believe that prices will soon enter a bullish cycle.

What Is Gas Fee

Blockchain | Editor Choice | Research

What is Gas Fee? A Guide to Optimizing Gas Fees Effectively

In any blockchain environment, Gas fees play a crucial and nearly irreplaceable role. So, what is Gas fee? How can you optimize Gas fees? Let's find out!